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  • Jim McManaman

Fire Yourself, Please!

Updated: Feb 24


The worst thing you can do for your business (and your financial future) is to have the business growth and profit be dependent on you.

Your ego will trick you into believing that you need to do many things yourself when in reality, the business needs to operate as independently of you as possible.

That dependency will slow the growth of the business and also kill any chance you have for a good lifestyle, one where you can take lots of time off to spend with loved ones and also recharge.

It will for sure kill your chance of getting the best price when you’re looking to sell.

Business buyers will massively discount any business that’s overly dependent on the current owner (that’s you).

That’s why it’s critical you find ways to remove yourself from the day to day operations of the business, essentially firing yourself from the business.

Am I saying you shouldn’t be around?

No.

What I am saying is that you cannot be critical to the profit or growth of the business.

This means identifying and implementing processes that others can do so that a new owner can smoothly take over when they buy it. It can't happen overnight but over time systematically adding processes and training staff will bring you closer to this goal.

Removing yourself from the business is sometimes difficult for business owners, but it’s 100% critical if the business is to grow and to be sellable at a high price.

If you’re ready to explore how to grow by removing yourself from the business so you can sell at the maximum price, then give me a call.

Removing yourself from the business is also how you can have a great life now vs. some distant future. Many companies I've worked with have successfully made the leap http://www.customhomespro.com/ is one of them.


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