In this blog, I’m going to explore the unique challenges I’ve recently been facing within our businesses and discuss some potential solutions.
From dealing with constant fire-fighting to reassessing the overall business model, it’s become clear that changes are needed.
I’ll outline the steps we’re taking to overcome these hurdles and build a more sustainable, efficient operation.
E-Myth Revisited
I’m currently reading E-Myth Revisited by Michael Gerber, and it’s prompting me to rethink the direction of my business.
In the book, Gerber explains how many businesses fail due to the mounting pressure on the entrepreneur.
He advocates for building a turnkey business—one that can run smoothly without requiring the owner’s constant involvement or extra effort after purchase.
Lately, I’ve found myself getting caught up in the day-to-day tasks of the business, losing sight of the bigger picture.
I’ve always sensed something was off, but it became most obvious when I struggled with the simple idea of taking a short holiday. Guilt, fear, and anxiety—emotions every business owner knows all too well—have been constant companions.
It’s a wake-up call, reminding me that working in the business instead of on it is a path to burnout, not growth.
Are You a Business Owner?
You either own a business or the business owns you.
When I buy stocks, I become a business owner, and I do not need to worry about the day-to-day running of that business. I am always concerned about the direction that the companies take, and can choose to make more efficient use of my capital.
However, I find myself constantly involved working in my businesses, and my business partner has the same issue.
We find ourselves constantly fire-fighting, and focusing on small, yet crucial details. This sometimes results in us having to step in quickly and leads to extra stress.
Moreover, as we are business owners, we have to be concerned with the bottom-line profit, and this leads to even more pressure and stress – are we going to get paid? Why are we even doing this?
Moving to a Mature Model
When you find yourself fire-fighting day by day, it is clear that one or more of these four things has happened:
- You have overexpanded – expanding quickly before putting systems and staff in place can be deadly
- You have a business model that is not scalable – if an offering is too personalised or requires too much expertise, you might find it impossible to systemise the process to the point of scalability
- You have not employed enough staff – you require more staff to fill in the roles
- Your business is not profitable enough – this puts pressure on you to fulfil customer orders, as you cannot afford to bring in the staff
It is clear that over the coming months, we will need to think carefully about how to improve on each of these points.
Understanding the Endpoint of a Business
Part of the issue is that we started these business interests organically.
What does the business look like when it is completed? What could be the market price of the business once it is completed? Why would it command such a price?
All of these questions, we thought about afterwards, rather than thinking about them initially.
The entrepreneurial mind is an idea factory, but it requires discipline and systemisation. Yet to the entrepreneur, all the other people within the business can seem like obstacles to their grand visions.
Bridging the Gap Between Vision and Execution
The gap between vision and execution often leads to frustration. Entrepreneurs, driven by creativity and ambition, can overlook the structure and systems required to transform their ideas into sustainable operations. But it’s not just about having the vision; it’s about building a framework that allows that vision to thrive.
To do this, we need to clarify the endpoint early on. If we don’t define what “finished” looks like for the business, it becomes difficult to make decisions along the way, and the business may meander without a clear path to success.
Setting Milestones for Growth
Once the endpoint is understood, the next step is to break that vision down into achievable milestones. These milestones should guide every aspect of the business, from daily operations to long-term strategy.
Systemising tasks and processes allows entrepreneurs to focus on growth and innovation without getting bogged down by operational details. Roles also need to be clearly defined (a process we have started to put to paper).
We also need to ask ourselves key questions at each stage of growth: How will the business scale? Who are the key players to make this happen? What processes must be refined, and what new systems will we need to implement?
Building a Team That Shares the Vision
For many entrepreneurs, the team can seem like a barrier to progress, but in reality, the right team is what transforms ideas into reality.
Building a team that not only understands the vision but also shares in it is essential for growth. By fostering an environment of collaboration, we can harness the talents of others to build something bigger than what we could achieve alone.
The challenge lies in letting go of control and trusting others to contribute to the business’s success. A business needs both visionaries and executors to thrive, and when these roles are balanced, the company moves forward with greater momentum.
The Value of Systemisation
Systemisation is the backbone of scaling a business. It reduces reliance on individuals and ensures that processes are repeatable and efficient. As the business grows, systems create consistency and quality, while freeing up the entrepreneur to focus on high-level strategies. Custom GPTs are particularly useful to this end.
Without solid systems, a business will struggle to handle increased demand or operational complexity. Entrepreneurs may find themselves stuck in the day-to-day, rather than steering the company toward its ultimate goal. This can be frustrating, but more importantly, it limits the business’s potential.
By thinking strategically and adopting systems early, we can turn a creative idea into a marketable, sustainable enterprise that operates independently of the founder’s constant oversight.
Conclusion
It’s become clear that to move forward, we need to shift from working in the business to working on the business.
The constant fire-fighting, lack of clear systems, and absence of a clear endpoint are all signs that our model isn’t sustainable as it stands.
By focusing on systematisation, setting clear milestones, and building a team that shares the vision, we can regain control and steer the business toward long-term growth and profitability.
The road ahead requires discipline and focus, but with the right steps, we can ensure the business thrives without being held back by day-to-day challenges.
