Whether you want to sell your business one day or you just want to enjoy running it, making it less reliant on you is how to make this happen.
We choose to be entrepreneurs because we want to live a certain way. We want to make impact and money on our own terms. We want the freedom to do whatever we want, whenever we want. Paradoxically, this often means we work longer hours than if we were employed, with a more rigid routine and fewer days away from our laptops. But that doesn’t matter. What matters is that it’s our choice.
In order to have the choice, you need to know that your business won’t come crashing down without you there. But how can you be sure? Booking a trip and crossing your fingers is one way. The other is to intentionally make your business need you less.
I implemented these four steps in the social media agency I sold in 2021. Not only did it mean that running the agency was enjoyable and allowed me to travel for one month in every four, but it also meant that when I sold the business I wasn’t required for an earnout, I was free to leave within a fortnight.
Here are my four ways to make your business less reliant on you.
This post is for subscribers only
Sign up now to read the post and get access to the full library of posts for subscribers only.