One of the many reasons I decided to build my business around help others to document their business was to help the business owner grow their business, but be able to step away from it too. Whether stepping away was to take a vacation, for an illness or to sell the business, it’s all the same idea.
I just started reading a book called Built To Sell by John Warrillow. John is an entrepreneur who has been building businesses since graduating college. He mentions in the beginning of this book that one of the biggest things he has learned over the years is that “it’s sometimes hard to imagine that you’ll ever want to leave the company you worked so hard to build.”
There are many reasons that you may find yourself unexpectedly thinking about this down the road.
You may want to sell your business so you can retire peacefully and wealthy.
You may find that it is time to move on and begin a new venture.
You may need the income for a personal financial matter, maybe an illness, college costs, etc.
You may want to free up some time in your day to day.
Whatever the reason, wouldn’t it be most comforting to know that you can sell your business if a need arises.
What are your thoughts? Do you ever have the thought that u might sell your business down the road? What plans do you have for your business as you get older?
I love to read. Always had it in my…since I was a child. I read books so fast, I would often run out of books. These days, I wish I could say that! I still love to read and try to read in my spare time. That’s the problem though, I don’t have as much spare time as I used to. Let’s just say between the family, job and business, I am pretty much busy most of the time.
Even though I am a pretty busy woman, I do still find some time to read. I like to read several different genres. I like to read biographies and memoirs, historical fiction, business, mystery, drama, and a few others. So you can see I am all over the place.
I do have some books that stand apart from others. In the business genre, I have to say that The EMyth Revisited, written by Michael Gerber, is one of my favorites.
In this book Gerber talks about how most small business are started by “technicians.” This is someone who is involved hands on in the how to of the business. They rarely focus on the other important aspects of the business. They also need to be the manager and entrepreneur, overseeing the business and growing the business. The technician needs to grow into the entrepreneur and hire others to be the technicians and managers. This enables the business owner to work on his business and not in his business.
The case study in the book uses a woman who is an excellent pie maker. Her goal was to open several bakeries using her recipes. However when she started her business, she was the technician. She was the baker. She could not get herself or see herself not being the one baking pies. He takes her through a transformation teaching her how to become the successful entrepreneur and eventually opening several bakery locations.
This book really opened my eyes to how important systems and processes are to a business. He talks about creating systems that will produce consistent and reliable results regardless who is working them. And this is what you want. You want to be able to hire other technicians to work in your business but produce the same results as if you were the technician. This gives you the freedom to build and grow your business.
This is just a little portion about the book. I totally would recommend this book to be on any entrepreneur’s book list.
So what is your favorite business book or what book are you reading now? Please share it with us in the comments below.