I recently started working with a new client, who first called me because in his words:
“I realized I had given myself a job, not built myself a business”.
It all started when he considered the option of semi-retirement. And he realized that the most valuable – maybe the only truly valuable – thing in his business, was him.
Meaning that his business had no value of its own.
To build a business that truly has value, build a business that still works when you step away from it.
A business, not a job
Your business is more than just a product.
It is also more than just the day-to-day work that goes into it.
The business you built is:
A mission and guiding principles
Your mission statement is the first part of making you unique. There may be plenty of other businesses that do what you do, but your mission statement explains why you do it and how you want to change the world.
Your guiding principles describe who you are as a business and what clients you want to work with.
Together, these elements define why this business could only be this business.
A set of systems and procedures
You know what your business has to do to be successful.
To be successful, you designed an organizational chart and specific expectations and success criteria for each department.
These are so simple to understand and follow, that anybody can take over and keep the business running, easily.
A value proposition
You understand your clients.
They don’t just need the widget you sell, they need a solution to a problem. There’s a specific way they want to work, and they want a specific result.
Your business offers a solution that matches all those clients needs: the solution, the method, and the relationship that they need. When you want to sell your business, you’ll find a buyer who works that way too.
Make it valuable
A house is not priced based on the cumulative value of its wood, nails, and other construction materials. A house needs to function, not just be a collection of stuff.
Your business is more than its widget.
Make it a fully functioning organism that anyone can step into and run.
How long would your business resist not having you at the helm? Schedule a 30-minute discovery call to discuss ways to make that longer.