How To Create A Self-Running Business
Let’s talk about why you started your own business.
I suspect words like “financial freedom” feature a lot as well as the desire to spend more time with your family, being able to travel and see the world, or find that elusive work-life balance. You would think that being your own boss would allow you to organise your time so that you can dial in the right amount of work-life balance wouldn’t you?
Well, how’s that working out for you?
If you are like most small business owners, as you started your business, you would have been caught up in the hundred tiny things you had to work on, especially at the start when resources were too short to hire staff. Then, as the business grew, and you did hire staff, you seem to be spending more and more time “managing” people. As processes became more complicated, the call on your time increased, not decreased. Your new hires had to be shown how to do things, and they couldn’t quite make decisions so you got involved. Then, when things seemd to have settled down somebody resigned and it started all over again!
Do I need to go on?
Well, there is a way you can design the business that runs itself.
It’s not an overnight process, obviously, but you can take 6 concrete steps that, over time, will set up your business so that it can run itself. I have written an eBook outlining these 6 steps that you can download for free.
The key to the process is to hold and articulate a very clear vision, and then, in a number of deliberate steps, systemise everything that you do.
The vision is the flag on the hill that you set to strive for. If properly explained, it also becomes the ideal that all your people should want to work towards. Having a clear vision answers 100 different detailed questions that they would otherwise ask you, like, “Out of these two candidates with equal skills, which one should I make an offer to?” Answer: whichever one will subscribe to our vision and help us work towards it. Or questions like “As accountants, should we expand our services to business into the personal tax area?” Answer: which market segment will help us get to our vision and provide the services we want to provide?
The value of having tools like organisation charts, position descriptions, policies and procedures is the creation of a system. A systemised business will allow people to make their own decisions, follow set procedures, and obtain consistent quality and results in whatever they do. System create value in your business because it becomes a turnkey business that anyone can run.
So to summarise, the 6 steps are:
- Articulate a compelling and motivational vision, full of benefits for everyone;
- Set some short term goals that will help you get closer to the vision and make sure you achieve them for short term wins, then show the benefits;
- Build the culture in the business that will help everyone work for the vision;
- Organise your team so that everyone is clear about their roles and responsibilities;
- Support the culture by creating firm policies and procedures and provide training and support with rewards; and
- Continue making improvements.
These 6 steps are explained in more detail in the free eBook that you can download here.
I also offer an online training program for small business owners called Creating Your Self-Running Business that will start you from scratch and build all the systems, policies, procedures and processes to ensure that you can create a business you can take a vacation from! Get over to teikoh.com and click on the Products page to find out more about Creating Your Self-Running Business.
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