Business Owners, “Be Selfish!” to be kind to your business
Business owners have an independent nature otherwise they would probably work for someone else but their personal aspirations will have an impact upon their business. We must not forget that their aspirations are likely to change as the business develops and their personal circumstances change.
So why is knowing the aspirations of the owners important for a business? Let’s take a couple of examples:
For a business owner who is in their 50’s or 60’s the thought of spending more time
- with the grand children
- on the golf course or
- travelling might be appealing or
- starting a (new) hobby or
- passing the business on so there is a legacy to be remembered by, maybe what they want.
For a younger business owner who has established a business they may have a desire to:
- Make the world a better place
- Have a business that supports an enviable external lifestyle
- Make sufficient money to indulge in fun-projects
- Become a nationally known brand.
What-ever the aspiration of the owner is, there will be an impact upon the structure of the business and the way it is managed. Whilst the owners and the staff will share common values, e.g. an emphasis on work life balance, and they will share an interest in what the business does, the roles and responsibilities of the owners, and staff, is separate to their personal motivation for being there.
As the personal motivation of the owner changes the organisation structure will have to be changed to accommodate the business owners change in what the future looks like for them. The business can only realise this change if the owner tells the staff what they are thinking. Hence, all business owners must be brutally honest and surface their inner most thoughts, so the business can adapt and continue to thrive. So, business owners, there is nothing wrong with being selfish about your dreams, so long as other people in the business are made aware of your intentions and the business makes the appropriate plans to accommodate the necessary changes.
If you would like some help considering what changes need to be made in your business, so your current aspiration can be achieved, I’d be please to meet with you and see if I can help. Please request one of our free “health checks” using one of the contact methods on my web page. https://www.businessdoctors.co.uk/business-consultant/maidstone
The Institute of Chartered Accountants in England & Wales (ICAEW) publish a quarterly UK Business Confidence Monitor and Q4 2019...
Find Your Purpose Your Core Purpose should come from a mix of what you love, what you are good at,...
Three resolutions that you can make to improve your business in the New Year by Planning, Formalising, and Reviewing all...