Whether you’re looking at cutting back on your time, retirement, or preparing for the sale of your company to your employees or somebody else, you essentially need to pull yourself back from being the head or face of your company. That can be difficult for small business owners who are closely involved in the day-to-day workings of their companies, but it can and must be done. Here are some ideas for getting started:
1. Delegate responsibility so others can grow and you can do less. Essentially, you want your business to function without your help.
2. Change from one person, you, being the face of the company to a process or service run by your team being the face of your business.
3. Another option is to have someone else be a co-leader and begin to build that brand. People can then rely on him or her when you’re gone. This obviously works great if you’ve already found your successor.
4. Continue to focus on the business running without you. When you feel you could take a six-month vacation and the business would still be able to function, you will be in a strong position to do whatever you want.
It’s always hard to cut back and not have complete control and responsibility when your business is your baby, but it’s something you have to do if you want to shift to something else.
Dave Shepherd, Sr.
President and Founder
Retirement Financial Services
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