Seeing Life Fantastic!

SEEING LIFE FANTASTIC.jpg

Business Series Installment 4

A good business that can be much more. The owner wants to stop some of the dirty hard work and start having some fun. And, at the same time, move the business forward even more.

In the prior three installments of this “Business Series”, we established that:

  • Seeing the opportunity is the first big challenge. The business owner is too close. Too busy doing what he does. He has to step back, to break through.

  • The business has grown, but hasn’t grown up. It hasn’t evolved. I listed five material opportunities to increase profitability, equity value, and quality of life. In the actual review, we found 14 more!

  • Motivation to change is the key. Even with all of this staring the business owner in the face, something even more is needed to compel him to action. Namely, getting clear on the life he wants to create. Once he’s excited about that, he’ll break from status quo.

What do you want your life to be now? For the next five years, 10 years, and beyond. What is your “second half” supposed to be?

What do you want your life to be now? For the next five years, 10 years, and beyond. What is your “second half” supposed to be?

This business owner is tired. He works too hard and travels too much. He deals with some real frustrations and limiting factors in his business. He has just worked around them and through them for the last 10 years. But, that is getting old too. There is a lot in his business and life that can clearly be way better.

He is on a course. Pretty much the same one he has been on for the last 10 years. He can elect to stay on it. But, we can both see it’s not headed in the direction he really wants to go.

I would like to say the direction he is headed is known. But, that’s not true. It’s familiar. But, the destination is not known at all – not really. He knows he has some risks that aren’t comfortable, with almost all of his net worth tied up his business. He knows he’s getting older. He thinks the business will continue to grow, but also knows that is far from guaranteed. I think I said it fairly. The path he is on is familiar. It carries some illusion of a known destination. In reality though, the future destination of this familiar path is quite unknown.

We can agree that destination is not what he truly wants at this point in his life. So, what the heck? The guy has a pretty good thing going, but not what he really wants. He just keeps doing it anyway! How could he come to that conclusion? Well, it’s not a conclusion. He’s simply in a rut, albeit a high-quality one. If he stays in that rut he’ll spend the next 10 years having a fair amount of money and a pretty good life.

The great life – the life that feels like living in paradise every day - eludes him. At least for now. There are a few reasons.

1. He isn’t clear on what he truly wants that life to look like.

2. He’s busy doing what he does every day.

3. Therefore, he can’t commit to creating a new path forward.

The answer lies in #1. Once he gets clear and passionate about the life that makes him feel so good he can’t stand it, watch out! This is someone who built a business from scratch – from no financial wealth at all. Can that person, from this place, make changes and create this fantastic new picture? Of course. He just needs to be clear on the picture.

Through this series, we are dealing with the intersection of the business and owner/ family. Inside the business, we found all kinds of opportunities. Ways to general several million dollars of financial wealth within an already successful business. The business owner and key employees readily agree.

Inside the business owner – that is where the power lies. And, the answers. If I can help you hit pause, and paint the picture of an existence that is truly whatever it is you want it to be, now we’re getting someplace! Dream big, and do this!

Recommendation #1: Take a quiet hour or so and put everything aside. Do not give thought as to how you might get from wherever you are now to where you might want to go. I am asking you to just clear the decks and fall into your dream.

Recommendation #2: On a big pad of some sort, draw out your life that is just over the top good. “I am so excited to be living half time in Maui.” The kids and grandkids, travel, the business, purpose, mission – all the good stuff. Whatever you’d like to have different from what you have now. Less stress, less hassle, less work, more peace, fulfillment, whatever it is. Dream big.

Recommendation #3: As it soaks in, how does it feel? If you get really excited – I see grown men and women light up like little kids – you are getting somewhere! If not, go back to #2! When you get the picture of your life – the total package – that just feel right…. Now you are getting somewhere. Now you are ready for what comes next. (See blog next week.)

Business SeriesDon Scott