“Freedom” is the most common reason small business owners started their businesses.
41% of respondents to a recent poll conducted by The CFO Centre Australia identified this as their primary reason.
When I started my business in 2003 I had this desire to be master of my own destiny.
And family was always the primary motivation for this freedom. A desire to be with my young family in their formative years. To share those sporting and other important moments as my children grew up.
But in my work as a CFO working with small business owners, the dream of being independent can often be just that – a dream.
The reality for many owners is they spend most of their time fighting fires. And working longer and longer hours as the business grows. Instead of getting more time with their loved ones, the demands on their time increases and they are at home less.
Business owners are often very good at working on the tools but lack the expertise in other critical skills. Without the business acumen or financial background to know what’s best for the business, they work longer hours trying to do it all.
What do you really want your business to do for you?
Does your business provide the freedom that you expected when you first set it up?
Are you stuck in the operational space with little time left over for what you really want to be doing, both in the business and personally?
I’ve seen this time and time again with business owners that we have worked with. At The CFO Centre we help business owners see the big picture.
This 2 minute video (click the big pink play button) shows some of our clients’ stories – from where they were to where they are now.
Written by Peter Crewe-Brown – CFO at The CFO Centre – Sydney Team.