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?”
- 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,
- Can I take a month vacation and no one notice? (Download my guide to taking a worry free vacation.)
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.