Why many business owners have lost their passion?
I know you are thinking, “Why is a personal development guy talking about this?” Steve Jobs said, “Your work life is a major part of your life. Therefore, you must be passionate about your career.”
It’s really true. No matter what productivity and time hack you are using without passion it’s not going to work. For example, my friend Yabesh and I have been writing on LoveBooks for more than a year now. We definitely don’t get paid for it. Actually, we have to pay for hosting and domain to keep this running. Then, why do we do it? The answer is simple: we are passionate or obsessed with personal development.
Most small business owners start their business to follow their passion. This is really great but the problem is,
“After some time, your passion is lost and your business is the only thing that’s left.”
Why knowing your craft is not enough?
Let me explain this to you with an example: Let’s say you love choco-lava cake unconditionally, can you draw it? You love choco-lava cake but you can’t draw it unless you know how to paint. It’s the same thing with business. You might be really passionate about some things but building a business requires much more knowledge than that.
For example, I thought just like you, “I am obsessed with personal development. Let me open a company(presently blog) which helps people get better.” I definitely failed, definitely. I learned it the hard way as many small business owners do. Therefore, I don’t want to make you the same mistakes I made.
Where are the loopholes?
In a single line: Your business is maybe too dependent on you. Can you leave your business and go for a one-month-long vacation? If the answer is no (most cases), you are not running a business but you have created a job for yourself. It’s the worst job to do.
You need to replace yourself with systems. It requires hard work but is worth the effort. I am trying to do this with my freelance content writing business as well. When I tell people to automate their business. Now you may say, “I don’t want to give up my control.” It actually is not true. In fact, when setting up the systems right, you are in much more control.
You no longer are the playing piece but the artist. What do I mean by the artist? You design each part of your business. Your job is not to fight with fires but to create systems and find good people to run them so that your systems fight with fires.
What’s the solution?
The three personalities inside you.
From a business perspective, you have three personalities within you,
The entrepreneur’s job is to protect the vision and give direction to the business. The Manager’s job is to do the strategy work to keep running in the direction given by The Entrepreneur. The Technician’s work is to implement the strategies made by the technician.
Most of the small business owners start from the technician level. It’s not the problem, though. The problem is that they are unable to transition to Manager, Entrepreneur.
The organizational Chart
It’s actually one of those things that blew my mind. I understood that I was doing all wrong. Although I still don’t know completely how to correct it, I am in the right direction. This chart is about planning how you want your business to look when it’s done.
You make an organization chart (which I am making currently right now). You also make a position contract. What is it? As per Michael Gerber, author of E-Myth Revisited, it consists of four parts,
- Summary of the results to be achieved
- The work that the occupant of that position is accountable for
- A list of standards by which results are to be evaluated
- line of signature for the person to be filled
By the way, you must read E-Myth Revisited by Michael Gerber. It’s one of those books I learned the above lessons from. You can also check out E-Myth Revisited Summary.
Action Steps: Let’s Get Started
Now, I am going to discuss some actionable steps that you take now to systemize your business.
1st Step: Start Using An Project Management Software
I can fight with you for Project Management Software. I am using them right from the beginning. Actually, it is like second nature to me. It’s not like I am addicted to them but I realize their power. Presently, everything is in your head. This causes a mess! Why not transfer this mess to somebody else? Yes, you are right, transfer it to a project management software. Personally, I am a fan of Notion. If you don’t like it, there are much other good software, too
- Asana (I want to explore it sometime.)
- Trello (We use it for sales management of our freelance content business)
2nd Step: Start Documenting What’s Working.
You need to create manuals about how things are done in your business. For example, your sales operations manual may consist of,
- Scripts for outreach to clients.
- Scripts for following up with clients.
- Scripts for calling clients.
- Checklists for getting clients on board.
This documentation will help you to outsource your workload easily and build your team.
Conclusion: Work on Your Business Not in it.
My GrandFather was a small business owner. My father is a small business owner. I aspire to start a small business and convert it into a big business. Therefore, I understand it’s tough to run a business. It requires a great effort from the business owner to keep things going. I have seen it in my father’s business. This is also the reason why I wanted to do things differently.
It’s time that you start working on your business, not in your business. It will not only change your life but will also give you the freedom very few people enjoy in this world.