Business Owner today and Entrepreneur Tomorrow
“Nothing is so successful that it can’t be mismanaged. If you lose sight of what you are doing, it could be here today and gone tomorrow.”- Jim Pohlad (Owner of the Minnesota Twins)
Often, when business owners started their business they new they were doing it to build a better life, have more time, make a difference, etc. But, along the way they became not only the owner but the CEO, CFO, COO, manager, supervisor, and sometimes even the hourly wage worker. The ideals of a better life get swallowed with working harder and surviving and paying the bills. Without much thought, just like that, you can lose sight of what you got in this for in the first place. Same thing with being a Parent, a coach, or a teacher.Since I can’t speak to everything in a short blog, here is an overly simplified model to entrepreneurial success:
- Solve the $ Step – If you don’t plan and save to get far enough ahead to invest in others and better systems you will be left spending everyday and hour (every dinner with your spouse) not thinking about anything, except, how can I make more $ so I don’t go out of business. Some people stay at step one their entire life- this is very sad to me as a coach.
- Solve the time step – Use the money you saved or set aside in step 1 to buy yourself more time. Hire, delegate, create, and build new time saving systems.
- Use the time you bought for yourself to find inspiration, new ideas, better ways of doing things, and creative energy to build your life and/or your business to new heights.
Where are you stuck? Which step is next? How are you going to get to the next step?