The Trap of a Busy Business that Nobody is Talking About

Over the past few weeks I have been meeting and speaking with many business owners, only to hear the same story repeated over and over again.????

This morning was no different.?I was at a networking event and I sat next to a lovely guy who has a digital marketing business who's name is Graham.?When I asked how business is going he proceeded to tell me that business is 'busting at the seems' and they are booked out for the next four months!?

Graham went on to say that they are working hard to continue to deliver the exceptional service level, despite staff shortages and huge price increases with his materials.?

?When I asked him about business growth, Graham quickly shuck his head and said he isn't looking to take on any more staff because he is happy managing what he has and he is in a great position where he can select the work he wants and turn away the rest.??

?Wonderful you might be thinking.??Isn't this the place we want to be??Where there is more work than we can handle and we don't need to worry about paying the staff and bills.

?I agree it's a favourable position to be in with abundant work flowing in every direction.?However, times like this are typically a double-edged sword for the majority of business owners.?Business demand is high BUT this is coupled with the owners feeling trapped and the majority of their time is spent working IN the business and almost none of their time working ON it.

?So many business owners get burnt out quickly when starting out because they think they must do it all themselves. Months, even years into their business life, they still feel compelled to do everything themselves. Worst yet, they don’t give themselves time to work on their business growth, create planning strategies or focus on future opportunities.

?In Graham's situation his business will experience pressure in the short term with his time and team, as well as errors and disorganisation around admin/finance/HR functions.???He will mitigate this with frequent 'firefighting' of each issue as it arrives, he will work harder, push through and take a tidy sum home at the end of each week which keeps a smile on the face.

?With no deviation from this path, the long term picture is somewhat grim and dismal.?Graham has been so busy working?IN is business, he hasn't spent time on a plan or putting goals in place.?He has no idea where he wants it to be in five years or what his exit strategy looks like further down the track.??If the market or the economy changes he hasn't considered how his business will adapt.?

On top of this, his financial commitments are high because he was riding the 'busy business wave' and committed to purchases that have been a reflection of the good times.?It doesn't help that he is also exhausted, there is no end sight and each day he feels like a hamster on a wheel.?

Here are some probabilities in this very familiar scenario -

• ?The business will hit it's glass ceiling of growth, plateau for a number of years
• The business viability will be 'at risk' somewhere along the line with lack of direction, planning and leadership
• Burnout is likely to occur with the owner and long standing team members
• Health (physical and mental) will suffer
• Relationships are likely to be affected

?The business might sell down the line once the owner has had a gutful, but for a fraction of the cost compared to effort that has been put in for the blood, sweat and tears.?Why? Because the business IS the owner.?The is business isn't an entity in it's own right because it hasn't evolved past the owner.

?How do you break the cycle? How do you as a business owner, give yourself time to develop your business beyond the daily grind????

?The Solution

?If this story rings alarm bells for you, use the opportunity of the 'busy business wave' to your advantage!??Invest in your business by finding the right people to work IN it and use your time to start working ON it.?Your business doesn't exist to just create a job for you and earn the same as you would being employed by someone else.??It exists to create freedom.??It exists to support the life you want to live and having abundant?time, money and health to do everything your heart desires.

?Top tips to get started

• ?Change your mindset about your business - it is here to support your life and dreams
• Start learning about business, read, listen to podcasts and surround yourself with the right people
• Get business advice and support - mentors, coaches, business owner friends
• Create a plan for your business and put it into actionable steps
• Schedule time every week to work on your business - 20% as a minimum is recommended

?Ultimately, you must let go of all the control. Consider that?“66% of businesses make it to the 2-year mark and just 30% make it to the 10-year mark. One of the main reasons for this is because very few owners spend the required 20% of time working on their business and this contributes to businesses failing?(gamechanger, 2019).

?Michael E. Gerber, an author and business expert once said, “If your business depends on you, you don’t own a business – you have a job.?

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