The Freedom Workshop: Finding Freedom as a Small Business Owner
Post by Apex President and Business Broker Doug Hubler, Certified M&A Professional (CM&AP)
The phrase has almost become passé among small- and medium-size business owners: “We’re too busy working IN the business to work ON the business.” Many of us are so integral to the day-to-day work that we can’t find time to focus on growing our businesses – or getting the life balance we need.
A successful owner of a local academic test prep business came to me a few years ago and asked for advice about preparing his business to sell. He was the subject matter expert for his business and was doing most of the work himself. We talked about how he could transition leadership roles to others – appointing a president and a marketing and sales person. He worked on the plan, and in a few short years, he had a very valuable business. When we sold the business, it was running so well that the new owner has been able to hold down a full-time job while serving as CEO.
By contrast, I worked with a landscaping business once, where the owner did all the bidding and design and even cleaned and sharpened the shovels. He was very profitable, and his financial statements looked great. But he wore himself out! He didn’t delegate or share responsibility, and potential buyers couldn’t imagine themselves being able to fill his role.
If you’re looking for more freedom – freedom to work ON your business, take some time off or even position your business to sell – you might be interested in a program we’re sponsoring on September 14th. Our pal Shawn Kinkade, of Aspire Business Development, is leading it.
According to Shawn: “As a business owner, you started your business because you were looking for freedom. But if you’re like most business owners over time, you’ve found a lot of days where you feel like your business owns you! That’s why we’re putting on The Freedom Workshop in September.
This half-day, hands-on event is all about helping you identify the key areas in your business that are holding you back (keeping you hostage) and how to fix them. You’re going to get a lot of great ideas, some specific information about your business and a chance to meet and learn from other business owners as well as from Chris and me. This workshop will have a big impact on your business … and will help set you free.” (Visit the event website to learn more and register.)
If you or someone you know is interested in buying or selling a business, please call us at 913-383-2671 or contact one of our Apex Business Advisors today!
