We’re fast approaching Independence Day here in the States and it’s got me thinking about business and why we start companies in the first place. In the beginning everyone imagines that their business is going to give them freedom – financial freedom, but also the ability to choose how to spend your time, both at and away from the office.
The reality, however, is often far from this utopia. Many of us business owners get through the start-up phase doing anything and everything that needs to be done, from answering the phones to taking out the trash. And, truthfully, some of us never stop being that person – that “start up hero”.
But at some point we have to consciously make a shift away from the place where we are the core of all that happens in our business. This can be difficult for some people to do (after all, the business is our baby). But, if we don’t grow these businesses in a smart way, putting systems for our business in place, AND empowering our employees to make decisions, we’ll never achieve that freedom that we so badly want.
In fact, we’ll end up with the opposite effect – our business will start to feel like a prison. Even worse, when a business relies so strongly on a single person to function properly, this means that systems are not properly in place. And, in many cases, it also means that the business has little cash value if the owner should ever wish to step away.
Creating a business without systems, and without a way for your team to make key decisions, means that you’re designing a hamster wheel that you can never step off of. Company founders and CEO’s feel important when they’re required to sign off on everyday tasks, and oversee operations. But, isn’t it a better testament to a company’s health and value when nobody even notices when the CEO is out of the office for a week? When things run smoothly and established policies and systems do what they’re supposed to do?
When that happens you know that you’ve built something good. Something of value that will not only provide freedom to those on the top, but which will be a sustainable and scalable company that’s in it for the long haul. And that, my friends, is when you get to experience true independence.
Elin Barton is the President of White Knight Productions and the host of the podcast, Ready, Set, Grit. Her first book, Ready, Set, Grit: How to Turn Your Daydream Into a Phenomenal Success, will be released in the Fall of 2017.