When you start your own business, it is very common to think this will mean a better work-life balance as well as financial freedom. So why is it that after years, most business owners are still working 90 hrs a week and not achieving their original goals? Clearly they aren’t working Smart!
I recently read an article published in Costco’s Magazine The Connection, “Running to stand still: How to grow your business by working smarter not harder” by Rosalinde Gray. She discusses how a hard working business owner can transition into owning a smart business. You can work less and enjoy your life more while your company is thriving; you can stop working a job you own, and start being a business owner. The Key? Move from worrying about the short term day to day tasks and start thinking about the long term goals and initiatives. By delegating the troubleshooting, support, and administration, you can truly begin to build your business.
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Gray recognizes that most owners view their business as their “babies.” It is very difficult for them to make the change from being the sole worker to being a manager. She gives a great example of 2 companies who are identical in revenue and nature except that the owner of “Company A” works 60 hrs a week and is ingrained in the day to day functions and the owner of “Company B” works only 30 hrs a week and takes on a role of manager. “Company B” is worth more because it is sustainable and viable, whereas “Company A” is dependent on the owner and therefore not worth as much. She believes that if you change the way that you view your business, you can start running it instead of letting it run you. For more information visit: http://www.costcoconnection.com/connection/201209#pg21