How to Set Up Your Business for Freedom

One of the biggest challenges when starting a business is not having enough freedom.

As a business owner, you are probably working crazy hours and working overtime because you are the center of your business. Often, business owners get sidetracked by chasing and solving problems and end up being the servant instead of the master of their company.

One of the most important tips to set yourself up for freedom when you start a business is your exit plan. This means you need to begin with the end in mind.

When creating your exit plan, you should have these questions in mind:

  • Would you like to sell off your business to the employees that work for you?
  • Would you like to be acquired by a much larger company?
  • Would you like your competitor to buy you out?

No matter what strategies you want to employ, make sure you have a plan.

I was recently on the phone with a client and we were discussing an issue about his business. He is the center of the universe inside of his business and that is a huge problem. This is a common problem with business owners because they get caught up as being the person with all the answers.

The solution to this issues is to make yourself UNNECESSARY.

As a business owner, you need to become an employee so if you don’t show up for work, the business would still run and operate smoothly.

In order for your business to run smoothly without your presence, you need to build:

  • Strong systems
  • Accountable team members
  • A descriptive organizational chart

Your job, if necessary, is to put out fires and make sure that everything stays in motion.

If you want more freedom for your business, begin with the end in mind and make sure you have an exit strategy in place and you will be on your way to freedom.

Do me a favor in the comment section below say the word “Freedom” if you are ready to build an exit strategy.

If you like this video and you want to see more videos like it, then do me a favor and head over to Facebook.com/businessrefuel or youtube.com/businessrefuel.

Have an awesome week!

Comments