Transforming Your Small Business To Become Owner-independent

Transforming your small business from being dependent on you as the business owner to being owner-independent is such a critical step in taking your business to the next level.

For many business owners, leaving their business unattended for 24 hours is impossible.

But a business that needs your constant presence to operate is not a business but a job.

In this article, we will share a few tips for transforming your business to become owner-independent.

1. Create a transformation plan

Transforming your business to become owner-independent is only successful if you have a plan.

Your transformation plan should state where your business is currently; what activities the owner has to do every day – make sure to write everything down to the smallest detail.

Also, write where you want your business to be in the next 5 years, for example.

And thirdly state how each activity that makes the owner critical to day-to-day operations will be standardized through SOPs, reassigned to other employees, or even automated where necessary.

Finally, your plan should include a timeline for achieving its goals. As well as how you intend to track progress and make modifications as needed.

It is critical to understand that successful plans gradually wean off the tasks the business owner has to perform over time. This is to make the transition smooth for everyone.

2. Create a standard operating procedure

You have to provide alternatives if you don’t want your employees to rely on you for everything.

Creating standard operating procedures (SOPs) provides step-by-step instructions for common business tasks and processes.

This helps ensure consistency and quality and also allows employees to complete tasks independently, without relying on the owner.

But creating SOPs should not be limited to operational procedures. Manuals should also be created to help your employees make decisions, share resources, and perform other administrative tasks as well.

3. Empower your team

If you want to transform your small business to become owner-independent, you must empower your employees to think and make decisions independently.

This starts with hiring the right people, to ensure that they understand and buy into the goals of your business. They should also be properly equipped with the right atmosphere, tools and resources to work independently of your constant supervision or input.

4. Create a team communication channel

A business with a team that cannot clearly communicate between individuals and departments is in chaos.

Before you fully transform your business to become independent of the owner, make sure you’ve established a clear communication channel. This will foster team collaboration and smooth business operations without you.

PLUS: Whenever you’re ready, here are ways you can work with us in starting, growing and scaling your business:

1. Do you want direct advisory and mentorship and would like to work with me one-on-one? 

The Accelerator, our exclusive 12-month programme, is for entrepreneurs who are looking to increase their profitability, create more balance in their lives and are ready to become wealthy by building self-managing, owner-independent businesses. Click here to apply now

2. Buy my book, click here

3. To visit our YouTube channel, click here

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