Does anyone know your financial planning business as well as you do?
Probably not.
Is that a good thing?
Well, it depends.
Your firm needs to be able to run without you. Otherwise, it will always be reliant on you … which isn’t a good thing when it’s time for you to leave. What’s more, any potential buyers will see it as a huge red flag.
So how do you avoid the trap of building a business that’s too dependent on your vision, ideas and drive?
You need to remove yourself as much as possible from day-to-day tasks. That means:
* Hiring the right people
* Delegating wherever you can
* Outsourcing
* Creating processes and systems that are easily scaled
Remember, one day you will exit the business. And while that might not happen for a good 10 or 20 years, the day will inevitably come. So start planning for it now.
Contact me at dean.holmes@wealthnetwork.net.au to find out how my custom training can help you solve your biggest problems.
Comments