Thursday 27 October 2016

To Build a Successful Restoration Business You Must Be About the Business of Business Building

Posted by at 6:43 AM in

Michael Gerber, author of The E-Myth Contractor and business guru who popularized the saying “work on your business, not in it,” has said that most business owners treat their business like a job, rather than as a business. Rather than taking a job for AZ Restoration, they take a job working for themselves. He goes on to say that most business owner’s makeup is comprised of 70% technician (they know how to do the work of the business); 20% business manager (they know little about the business of business); and 10% entrepreneur (creating a vision with the end in mind).

Since the business owner is short on keeping the end in mind most businesses drift until they reach their “crap out” day. In Gerber’s framework this is the day when the owner and the business “crap out” and simply close the doors and sell the equipment, or they eek into retirement, or simply go to work for someone else. Gerber encourages business owners to understand that to build a successful business you must be about the business of business. The owner must understand that their role is to get out of the technical aspects of the business delegating those roles to others. They must build a business mechanism that can survive and thrive without them.

He suggests that businesses should be started with the end in mind which is to sell the business for retirement, or to fund the next really big thing in life. Pause and reflect on this for a moment. Whether you are a young, middle aged, or older owner what difference would it make in your business if you began to see your primary role as a calling to work on the business and not in it, to be about the business of business building? If you look ahead to the ending of your business will you simply “crap out,” or will you have developed a business that someone else will find value in and will want to buy it from you.

Businesses should be started with the end in mind building a pathway that will ensure that preferred ending. The role of the owner must shift from technician - to manager and entrepreneur. More time should be given to working on the business and not always in it. Any role the owner plays that is an employee role should be delegated to another until the owner is no longer working in the business, but spends the bulk of his or her time managing the present and developing vision and plans for the future. Let’s be about the business of business building, can we? What changes do you need to make to create a business that someday will be bought by a person who finds value in what you have created?

Reference: 9 Month Coaching Plan – The Business Transformer – Double, Even Triple Your Business in 18 – 24 Months