For many entrepreneurs, there comes a point where your business doesn’t look anything like you planned it to look. Instead of the business serving you, you’re serving the business. On today’s Black Entrepreneur Blueprint podcast episode # 431, Jay discusses and identifies the signs that your business is running you and gives you several tips on how to regain control of your business.
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BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 431
Build your business around your lifestyle, not your lifestyle around your business. Today I’m going to identify the signs of a business that’s running you (Frankenstein business) and how you can create the ideal business you had in mind when you started your business. This info is good for current entrepreneurs and prospective entrepreneurs because it will help you plan correctly.
SIGNS YOUR BUSINESS IS RUNNING YOU
- You don’t have any time off, you’re working ridiculous hours, with no family or personal time.
- There are no time boundaries between your personal time and business time (your customers)
- You don’t have processes or procedures for your business or your clients (this is my process, set expectations
- You’re starting to dislike what you created (a Frankenstein business)
- Your business is not fulfilling
- You’re feeling overwhelmed
- Your business is working against the lifestyle you want to create
You must have a plan to make this happen. You can’t just think this up in your head and expect it to work.
- Write down on a piece of paper what you want your ideal lifestyle looks like with your business: number of hours worked per week, type of work you’re doing in your business (try to outsource things you don’t like to do to others), what take home monetary amount do you want your business to generate each month, how much time you want to spend with your family or working on hobbies, block out specific times you do not want to be disturbed and stick to it
- Create a “personal schedule” first, then create your work schedule that is in line with your priorities (family, vacations, exercise, hobbies, kids AAU travel)
- Is your business making you fulfilled and if not, how can you structure it (or pivot it) to do so
- Put people, and processes in place to make sure you’re getting out of your business what you want (time, money, freedom, etc)