Introduction to the Series:
I have been thinking about you; your goals, ambitions, and challenges. I felt it was appropriate to provide several concepts related to expanding your business. I know that expansion is probably the furthest thing from your mind; it just seems to me that you have worked yourself into a corner. Expansion may be your way out of work and back into your life. I know this may seem paradoxical, but trust me.
At this point it's unfathomable for your business not to need you. You may even cringe at the thought of taking some time away from your organization; I'm sure the thoughts that follow are fairly disastrous. How would you ever stay afloat if you stopped working for a week, a month, and god forbid a year? What would your life be like if you could see life beyond your business?
One thing I have learned in my years of running multiple businesses is that we really have to find a way to let go of the concepts that may be holding us back, and at the very least challenge our assumptions.
Instead of your business needing you perhaps this is a case of you needing your business. Maybe you are in love with the meaning it contributes to your life, the financial rewards, the deep emotional satisfaction when things are going well, the feeling of triumph when you move forward in spite of challenging times. In any case I'm sure your life amounts to much more than running a profitable small business.
A Paradigm Shift
You are not meant to focus on your business in the way that you do. Your business is an instrument, not the destination. Please keep in mind that life is about fulfilling a purpose beyond fiduciary responsibilities. What is your purpose? Can you look beyond the obvious to see how your occupation can be used to elevate your life's meaning?
Welcome to You NEW Infrastructure!
Revisiting the Cashflow Quadrant:
Robert Kawasaki introduced a business concept regarding business ownership. I know that it will serve you well. On the left side you have the E (Employee) and the S (Small Business) on the right you have the B (Big Business) and the I (Investor). Following are the implications to each quadrant. Which quadrant are you in?
The Employee Quadrant:
Working for someone else will earn you a living, however you are making someone else wealthy or financially independent. You are exchanging hours for dollars, beyond your PTO if you don't show up you will not get paid.
The Small Business Quadrant
You just purchased a job. Working 70 hours a week to manage a business that couldn't survive without you. If you stop you will lose everything. You are exchanging hours for dollars, if you don't show up your customers will fire you or you will miss the opportunity to acquire more clients.
The Big Business Quadrant
This is a big business infrastructure created to sustain financial independence for the owner(s). If you decided to take the rest of your life off, you would still have a flourishing business.
The Investment Quadrant
This is a quadrant where your money is creating a passive income stream; as in the case if you were investing in good stock or real estate. Eventually all of us should be here.
Adding To Your Life
This is one area that you don't want to miss the boat in. You must understand that your business needs to add to your life, and not take it away.
I prepared a couple of quick reads for you concerning business expansion; In which I will post throughout the next several weeks
What other choices do you have?
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