Do you have a ‘spare heir’ for your business?

Do you have a ‘spare heir’ for your business?

Much has been celebrated about the new arrival. Any birth always brings happiness and hope for the future as we feel secure (at some level) our genes have been passed down the line. There is also a lot touted in the press about Kate having produced ‘the spare’. Now Prince Harry has a replacement should something untoward happen to him. Reporting of ‘the heir and a spare’ started me thinking about owner operated businesses, and where is the ‘spare’ ? Whether you are thinking of starting your business or been operating for a while, you must consider creating systems and processes that allow you to have the business run without you at the helm, all the time. Effective systems and processes will allow you to outsource repeatable low value tasks, scale the business more easily as you can outsource discreet parcels of work. You will gain a freedom mindset, knowing that the business will not collapse without you. What would happen to your business now, if you were taken ill, get consumed by a personal situation or become engulfed in a business issue that overtakes your time? Will your business grind to a halt, as you are no longer at the helm directing and executing, or will it continue on, with effective systems and processes in place, giving you the freedom to divert your precious energy and attention? It’s often not until we are faced with an impossible pull on our time that we discover how vulnerable our business is. We have no ‘spare’. Our business is at risk of stalling. Here we some ways to get started to...
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