Do you know the story about the shoemaker’s children not having any shoes? It seems that there are a few business owners who feel like the shoemaker!
This Profit Potential Audit interview with my long-time friend and business broker, Ron Wiebe, reveals something that many business owners have discovered – there are things they know they should be doing but just aren’t setting aside the time to actually get those things done!
I asked Ron the $64,000 question: If we were having this conversation 6 months from now and everything has gone perfectly for you, what would your business look like
Ron’s answer is like many owners of small firms, he would love to do more of what he loves (i.e. networking) and less of the day-to-day (i.e. entering data into the computer).
His 2nd point is that he would love to have the peace of mind that he could leave his business, take unplugged vacations and know that his properly trained staff could take care of everything.
After completing the GROW Success Calculator for small firms, Ron and I discover that his phase of business growth is what I call Chief Everything Officer! As he mentioned above, he is still doing a lot of the daily administrative tasks. He is caught in the messy middle or the Small Firm Growth Trap!
In order to escape that Trap, we discuss the importance of having an Employee Handbook with a clearly written mission, vision, values and standard operating procedures! He notes how important a handbook like this is when business owners go to sell their business – he knows this is one of the things he ‘should’ be doing but finds his time is taken up with other things.
Ron’s one action step is to set aside time in his agenda for a weekly CEO Date with himself where he can focus on more growth-orientated tasks.
Here are 2 downloads to help you and Ron achieve more:
1. Weekly Checklist for CEOs (here)
This is your time to wear your CEO hat. Here’s a quick checklist to help you stay focused on your important CEO-level tasks.
2. Think Like a CEO (here)
This is a downloadable chapter in the book with Brian Tracy that will help you get off the hustle hamster wheel, explode your profits and enjoy your life.
CONNECT WITH Ron Wiebe:
Did you listen to Episode 75 – Profit Potential Journey? (Listen here)
This is where you’ll find the explanation of the different stages of business growth (Unknown Expert, Chief Everything Officer (Small Firm Growth Trap), Visionary Leader and Legacy Leader.