A common sentiment among the business owners I meet is "my business drives me". What I mean by that is who or what is really in charge of your business? Are you in charge of your business or does your business drive you? This is particularly true for a business owner who started the business and now finds himself or herself in the driver's seat of a runaway bus! They have created a monster, spending their days in crisis mode constantly moving from one crisis to another.
For a business to be valued for for top dollar it needs to run better in the owner's absence than in their presence. I recently met a business owner who hadn't had a vacation in 8 years. He wore that fact like a 'badge of honor" on his chest, yet I felt sorry for him because his business was out of control.
If you feel this way as a business owner you are not alone. It is time to take charge of your business. It is time to let go of unimportant tasks and delegate. Now is the day to take control of your business and get your life back. Not only do your get your life back, you increase the value of your business as well.
Rick Krebs, CPA - Valuations Expert & Mergers and Acquisitions Professional. Creator of the MyBizValue system for business valuation and Principal at Business Sales Group. He graduated with a Master's of Science Degree and Bachelor's Degree from Utah State University. He has been valuing businesses for over 24 years.