Business Owner V Business Operator

by | May25,2017 | Category 1 | No Comments

Who Would you rather be?

Hi, it’s Glen Michaelides. Welcome to another white board blueprinting session. Now today’s video is all about having fun.

Now, I don’t know what it is, but just over the last week, I have no less than ten business owners come to me and say, Glen, the fun is gone. I’m just not enjoying this anymore, can you help me out. How do I find that fun again and how do I get that fire back into my belly and re-ignite my jet engines to want to propel this thing forward? And business owners can get beaten down. You know, day in day out they’re getting hammered and bombarded from all angles. You know with bills that needed to be paid, with staff, with interesting things that are happening in the economy can really make life quite challenging. And I tell you what, it doesn’t need to be that way. But I know exactly how you feel because I’ve certainly been in the trenches with you and run many businesses and owned many businesses myself and I can tell you what, at times it is being some of the hardest times that I’ve ever had in my life. And it certainly brought me down to my knees as strong and as smart and as willing as I am to move forward.

However, there is a way through this madness. And I want you to consider something because think about when holidays come around. Are you the person that’s packing up and heading off with the family and enjoying those great trips or are you the one staying back and working? Maybe the family is heading off on a trip and you’re having to work, doing it tough, the hard way. Are you enjoying that time off, where you’ve actually got your weekends to yourself or do you find that you’re doing paperwork or having to go into the office?

Now for a lot of business owners, this becomes an epidemic and a major problem, where they’re spending all of their time on the business and not what really matters or what really counts. And they can’t see their way out of it, because are you the business operator or the business owner? And I can tell you, there is a big difference because the business operator really is the business. They’re the person that’s working in the business and they’re doing all the business stuff and without them, the business fails to work, in fact, it just falls into a big heap.

Now how can you go and take a holiday or get leverage or momentum? In fact, you’ve got to work harder for the business to actually make more money. And that’s counter-productive, because the harder you work, the less time you’ve got. So you may get to earn the money but what’s the cost. And this is the conundrum for a lot of business owners. And I tell you what, it’s something that I get asked all the time. Glen, how do I found my way out of this madness of being a business operator? Well, it’s a different paradigm and it’s a different way of thinking because it’s about moving over to here as a business owner.

Now, what’s the difference? Well, there is a massive difference between the two, because the business owner, they own the business. They are not necessarily the business or working in the business, but they own the business. Now how do you get to be a business owner? Well, to be a business owner and to tick these boxes so that you can have holidays and you can enjoy that time and have more fun and importantly have enough money to go and do all that. Because there is no use having the time and all the right energy but no money to bloody do it. And I tell you what, for a lot of business owners it’s one or the other.

So how do we do it? How do we break through this? Well, there are a few different ways that we need to do it. There are a few things that we need to talk about. Now [?] from a business operator to a business owner you need to have the right team in place. You know, having the team is one of the most important things to do. Because there is a big difference between being your business expert, who’s the one that’s out there putting all the fires out all day, who’s solving all those problems. Now, who out there is a business expert that is the main focal point of the business and who out there thinks that there is no way that the business will run without them? Because if you do think in that way, and maybe there are challenges to moving your way out, however, if you do think that way, you’ll stay the business operator. And if you’re enjoying having that time and that fun and potentially even the money to do what you want, well I suggest that it’s time to move out of here and time to become the business owner.

Now as I mentioned putting the right team in place is the number one thing that you need to be able to start moving forward. To have the right systems is critical and you’ll be surprised, a lot of business owners simply don’t take the time to put the systems in place. It’s what I call the dashboard. Now if I ask a pilot Glen, and I say to him mate, I want you to fly me from Sydney to Melbourne but there is a catch. You’re not allowed to look at the gauges on the plane. You’re not able to see the altitude or the speed. He’ll say, Glen, you’re absolutely crazy there is no way I’m going to do that. Why would I come and risk my life? So why is it, that in your business you’re not looking at the dials or the gauges? Why is it that you’re not measuring with KPIs? Because having the right systems in place, having the right dashboard, so that you can see the gauges in your business and you can make the critical adjustments that need to be made and have the right team and have the right KPIs is one of the sure-fire ways to being able to start to move from a business operator into a business owner.

Now there are many other aspects to that, we’ve only got a certain amount of time in this video to share. I want you to think about what can you do to start putting the right team together to people that are better than you, and what you do, that fill in your weaknesses. Because let’s face this, as business owners, we’re not good at everything. We’re only good at a handful of things. And I want to say to you, that that’s okay. Find people to fill those gaps, so that you can start to transition into a business owner. But importantly, I learned a valuable lesson in this. I tried to transition without the right systems in place and without the right KPIs, just assuming that the team was going to do the right thing because I’m a good bloke and I looked after them. I tell you what, that was the biggest mistake that I ever made. So I want you to think about having the right systems in your business and the dials of your business, watch your profit and loss, watch your net profit, watch leads that are coming into your business and importantly what are your conversions.

Now is that a question that you’re going to ask or answer me right away if I was to say what’s the conversions in your business right now? Could you give me that percentage? And if you can’t, well, you’re simply not reading the dials and it’s just like the pilot flying the plane that could be heading for a crash landing.

So it’s been fantastic sharing. We’re going to start breaking down this further about how to get the right team. How to actually measure the KPIs? What are the dials and gauges in your business? What systems do you need in place to transition from a business operator to a business owner? From becoming that expert and that superman out there having to solve all those problems, to be the person that’s on holidays, while your team is running everything in place. That you’re enjoying a great quality income and time with your family or loved ones or enjoying whatever it is that you want, while the business is running better than it could be with you. Why? Because you took the time to get out of your own way and try something different.

So it’s been great sharing. I look forward to breaking this down further and sharing some more high-quality training on these whiteboard blueprinting sessions.

It’s been fantastic and I look forward to catching up soon.

Bye-Bye.

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