From the age of 17, all I knew how to do was work. I felt proud that I could outwork anyone, and I thought following a work ethic was all I needed to become a profitable businessman. Even as I was installing electronics in clients’ cars, I wanted more for myself. I dreamed of being my own boss.
I would only last four years working for someone else before I started my own business. At 21, with just $300 to my name, I was confident that my grand idea of outworking anyone and everyone would bring me what I wanted in life. Back then, I misunderstood the difference between being an entrepreneur and a businessman. Believe me, they are not one and the same!
Rethinking Your Business Model
When you work in your business, it owns you. You don’t own it. You are at its beck and call. You’d better not get sick or hurt, and just try to have kids and be there for them and your spouse as much as you want. Not gonna happen. I learned these lessons up close and personal twice. Once, when I hurt my back and couldn’t work for three weeks, and my income ground to a halt for that long, too, and again, when my son got very sick.
Fortunately, there was a major difference between the time I hurt my back, and when my six-month-old son needed me, which was the second time my business came to a halt.
When I hurt my back, life went on. I figured my back would heal and the money would flow again. It did, but I am so glad I made some vastly different arrangements in my second business to allow it to survive if life hit me below the knees again— as it did when my kiddo became ill.
In my second business, I still did the same things and got predictable results for a good chunk of time. But I failed to realize how to keep my business afloat and still allow myself to have a life—so it could flourish without my involvement every day.
I knew I had to delegate and get out of my own way.
What Would Happen to Your Business If…?
At the age of six months, my son got very sick with a bowel obstruction. After surgery, he stayed in the hospital a few days to recover before he could come home. For me and my wife, Jenn, it was all hands on deck. Our three young kids needed attention, and Tomas needed even more than usual.
This time, however, my income didn’t stop, and my worries didn’t compound. My team was more than capable of keeping the cogs turning and the clients happy. Money came in. Employees were paid, and I could focus on being at home with my kids, ensuring Tomas would heal well.
Have you ever asked yourself what would happen if you got sick or seriously injured? Would your business immediately stop, or could you take the time needed for yourself and your family? If your answer is, “Everything would stop.” Read on because I am about to drop some knowledge that changed my life. I want it to change yours, too.
It’s Time to Change Your Self-Limiting Beliefs
Any business you’re operating must be able to run without your daily input. But this is easier said than done, and I want to clear up some of the confusion you may feel when you’re advised to pull back in your business.
Advice is only useful if you understand it.
Instead of grinding harder and pushing your sales, or beefing up your marketing budget, slow your role. Identify your systems and processes—and I don’t mean sink a boatload of money into a fancy CRM app, either. When you are just digging into the mechanics of your business and trying to find the best way to operate, a pen and paper will suffice. So, write down what you need to and move on to the next exercise—getting clear and honest about your vision.
Creating a Vision for Your Business
These are the elements that make up your vision:
- Purpose + Mission + Core Values = Vision
Before you can begin to formulate your vision, these three components should be defined. Let me give you an example of what purpose, mission and core values represent for us at Top Class.
Purpose: Why do you do what you do?
“We bring efficiency to life.”
Your mission relates to what you do, who you do it for, and by when.
Our mission: “To install GPS tracking devices and camera systems in one million vehicles by 2025.”
Core values are the fundamental beliefs and guiding principles that dictate behavior and help people understand the difference between right and wrong. They also help companies determine if they’re on the right path and fulfilling goals by creating an unwavering guide.
Living by this vision has allowed me to have a personal life and support the people who mean the most to me. It gives me everything I need for the lifestyle I want to live. I want the same to be true for you. I hope you develop and follow your business vision to experience the benefits for yourself.
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Previously published here and reprinted with the author’s permission.
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