“The Most Successful Small Business in the World” is………
Ready?
It’s McDonalds.
Are you kidding me?
Nope.
The average $3M McDonalds location is essentially run by teenagers.
OK, it’s the processes.
What does that have to do with building a self-managing business that runs on EOS?
Keep reading……
A lot of Visionary Owners started with a dream and now they’re living a nightmare.
When owners tell me they want more time and money freedom from their business, I always ask a couple of questions:
- What future role(s) do you want to own in your company, if any?
- Do you think it’s possible to build a company that runs without you?
One client pondered over the last question.
He said he and his wife were just tired.
Tired of all the hours, the stress, and the people issues that go along with ownership.
The dream they started with seemed far away.
The work was no longer fun, and the entrepreneurial journey became increasingly frustrating.
Even with a newly adopted operating system called EOS, the self-managing theory seemed like a pipedream.
My client still seemed skeptical.
All these years he thought that his purpose in life was to serve his business.
“Is it possible to build my company structure and processes so that I don’t have to be involved in the day-to-day?”
In the book “The E-Myth Revisited”, Gerber challenges business owners to ask the following questions:
- How can I get my business to work, but without me?
- How can I get my people to work, but without my constant interference?
- How can I spend my time doing the work I love to do rather than the work I must do?
Do you have the answers to these questions?
My Visionary client looked at me and said, “My goal is to work 3 days a week by the end of the year”. Do you think that’s possible?
That was his definition of a self-managing company-at least for that moment in time.
Next week he told me it was to sell the business in 5 years once EBTIBA reaches 7X earnings.
Who knows, in 3 years, when they hit their growth goals, he might decide to take longer vacations?
Or maybe he starts another business because that one is running so well.
Remember, your business is not your life.
The primary purpose of your business is to serve your life.
Months later, this same client shared with me his newfound freedom from the day-to-day stress of running a business.
He’s getting closer to that self-managing business he always dreamed of.
What is your definition of a self-managing business?