Stop Working IN Your Company, Start Working ON It.

Most people start a company because they are good at something. They are good at building things. They are good at fixing things. They are good at improving things. So they start a company so that they can do that thing and bring in all the profit for themselves.

This all sounds great and easy until one day you wake up and you actually have a company that needs you to lead it and not just do the thing you are good at.

We have a friend who is a really good electrician. He worked for a large company for a number of years. After a while he was promoted to run a crew. He looked around and decided that he could run the company better than his boss, so he quit to start his own company.

At first it was pretty easy. He got work and was able to handle things on his own. Within a few months he had too much work and decided to hire someone, two months later a second employee. Now he had employees, had to deal with payroll, scheduling, sales, estimates and actually do the thing he loved - working on jobs.

It only took 2 years before he was drowning under the company. He had 3 crews, 4 trucks, 8 employees and was staying up at night worried about money. Once he decided to stop working on jobs and actually focus on his company, he was able to breathe.

He has been in business for over 4 years now. He doesn’t actually do electrical work anymore or spend his days doing the skill he worked so hard to learn. Now, he runs his company and manages his team. His time is spent on managing and growing his business.

Could your business benefit from stepping out to work ON it, instead of IN it? Here are some ways you can do that:

• Outsource or delegate any tasks you’re still doing that can be completed by a member of your team.

• Work with a fractional CFO to make a long term financial plan for your business, so you can focus on growth.

• Work on being proactive, not reactive by bringing in a bookkeeper to maintain your books so you can oversee the cash flow of your company.

The transition from skilled worker to skilled business owner doesn’t start when your business opens. It starts when you step back to oversee and think long term (financially and structurally). This is when you’ll see true growth and take your business to the next level!

Need some more advice on how to change the trajectory of your business? Contact us for a consultation!