What it really takes to be in business
Ever felt like as a business owner, that your role as a leader is never over? Well, that’s because as a leader, your work really is never done. The clock never stops ticking… it doesn’t matter whether you’re on holiday or on a business trip overseas – sure, you can delegate here and there, but you can’t outsource leadership. You’ll never stop being a business owner!
That said, no one can live and breathe their business and quite frankly, it’s just not healthy to do so. In order to operate to the best of your ability and to really thrive, you need to create a reasonable amount of distance between yourself and your business. Remember, you are not your business.
So what do we mean by this? You need to be able to have the ability to pinpoint what tasks can be delegated to staff and to let them take charge and own these responsibilities. It may be even the smallest of tasks but you’d be surprised at how taking even something seemingly simple, can help to give you that little bit of extra headspace that you need as a leader.
It’s also vital to have support across a number of key areas. My suggestion is to follow through on this list:
1. Ensure you have a good external accountant who you have a good relationship with.
You should be able to pick up the phone and ask a question and get a response quickly from your accountant. This prevents you unnecessarily stressing about things that don’t fall within your expertise.
2. Have a good external lawyer
In business, you’re bound to come across situations in which you’ll need good, solid legal advice. Again, you should be able to pick up the phone and speak with your lawyer whenever necessary.
3. Make sure you have a good relationship with your bank
A business owner should always have a point of contact who you can get in touch with at the bank. Again, this means that you can easily ask the questions you need to whenever any guidance is needed or issues arise.
4. Source a good IT contractor and work on building a good relationship with them
Given the evolution of technology and our reliance on the internet and IT in general these days, you really need to find a good IT contractor who’ll be able to assist you whenever necessary. The last thing you need is to be out of action for hours or even days in business, due to technical issues.
5. Find a good insurance broker
Again, this is another specialist field and in business, you just never know when you might need someone to advise you in relation to insurance/risk management.
6. Enlist a trustworthy wealth advisor
A wealth advisor will be able to guide you towards appropriate investment options and general money management. We don’t need to reiterate the importance of cash to any business and every business owner.
Of course, having a great business coach or business mentor on-hand, is also incredibly handy. One potential issue with all of these suggestions is that each of these professionals, will only ever be able to provide you with a singular view and their professional advice. At the end of the day, as the business owner, you’re always going to be the one making the final decisions, whether they prove to be right or wrong.
Coraggio provides you with the perfect solution as we’re a monthly peer-to-peer advisory board that meets once a month. Our discussions take place in a structured and supportive environment and cover all issues pertaining to our members’ individual businesses. The real benefit of Coraggio is that you gain input and insight from 12 other experienced and highly successful business owners on a monthly basis. This is priceless.
Keen to learn more about how Coraggio works and if becoming a member can benefit you? We’ll be hosting introductory briefing meetings in both Sydney and Melbourne. This gives you the opportunity to experience the Coraggio way. Secure your spot today – places are limited.
Richard Skarzynski
