As busi­ness own­ers, it is so easy to let the busi­ness become your life. So much to do, so lit­tle time. At least that is what we tell our­selves. For life to be worth­while, it needs bal­ance, and most busi­ness own­ers I meet have pre­cious lit­tle of that in their lives.

I think we have to con­tin­u­al­ly ask our­selves the ques­tion, “Do I own this busi­ness or does it own me?”

Women Run the WorldIf you own your busi­ness, you should be able to say yes to most of these 10 ques­tions:

  • Does my busi­ness have a mis­sion, vision and val­ues that are clear­ly artic­u­lat­ed and owned by every­one in the orga­ni­za­tion?
  • Does my team know and take respon­si­bil­i­ty for their roles; respon­si­bil­i­ties and account­abil­i­ties in mak­ing the busi­ness mis­sion a real­i­ty?
  • Are their report­ing sys­tems so that I can mon­i­tor depart­men­tal and indi­vid­ual results? 
  • Are the how’s of what we do clear­ly doc­u­ment­ed?
  • Is there an inno­va­tion cham­pi­on in our busi­ness that brings new ideas to the fore­front?
  • Are my team & indi­vid­ual incen­tives in align­ment with the com­pa­ny goals?
  • Do I get clear, con­cise, action­able finan­cial data so that I can mon­i­tor and man­age my invest­ment in the busi­ness?
  • Do I see myself both as an employ­ee and an investor in the busi­ness and do I con­scious­ly sep­a­rate my com­pen­sa­tion along these lines?
  • Am I con­fi­dent in my abil­i­ty to be a leader and let oth­ers be the doers?

And the lit­mus test of all lit­mus tests,

If you are like me and most own­ers, in many of these areas the answer might be yes, some­times, maybe, or work­ing on it. As the year draws to a close now is a good time to take inven­to­ry and set a con­scious path for your per­son­al growth in 2015.

What do you need to change? How do you need to grow and expand your­self? What new tal­ents do you need to acquire? To move clos­er to the goal of tru­ly own­ing your busi­ness?

There no time like the present moment to make a new choice. Enjoy.