Taking the First Step

If this sounds like a worthwhile exercise, the first step is to identify the aspects of your business that are dependent on you. Then start small and pick one area to tackle first. Can it be delegated? Can it be systematized? Outsourced? Maybe some additional training is needed. Maybe someone with experience in that area should be hired.

There are various advisors and tools available to help you identify how owner-centric your business is.  FPA Owners Transitions (Chuck Kedra, CFP, CEPA) offers a tool that takes less than 15 minutes to complete.

Here’s another way to get a basic idea of owner-centricity that takes only a few seconds. How much time did you spend ‘touching base’ with your company during your last vacation? If you’re not sure, I’ll bet your spouse knows.  Once you have the first one checked off, you should have more time and energy to tackle the next.  It’s a virtuous cycle.  Accomplish enough of these and not only will your company’s value increase, so will your quality of life.