In this Treasure Tuesday, I am asking a quick but important question: Is your business giving you all the rewards you dreamt of when you started? For example, do you have the freedom you thought you would have?
Imagine if your business was like an ATM where you could walk up to the ATM and get all the rewards out of that ATM at any time you wanted. I’ve come up with a special ATM called the Brilliance ATM. It has three buttons.
- The Asset button
- The Time button
- The MIssion button
The “Mission” Button
Of course, your business is to make a difference. You want to make a difference for your clients and have as big an impact as possible. Of course, you also want to create more revenue.
The “Time” Button
So many of us start a business because we want to be in more control of our time, don’t we? You don’t want somebody else to tell us what to do, which was part of why you started your business. You wanted to have time with your family when you wanted to.
You also may desire to do some other activities. For example, I’m about to trek in Nepal – I can’t wait. This is going to be amazing. I’m going to be gone for two and a half weeks.
The “Asset” Button
Then let’s get to the asset part. I am going over the buttons of the Brilliance ATM in reverse order, but that’s okay. I did this because the “asset” button requires more thinking.
Often, a business owner will go to a financial planner and say, ”Hey, my business has a revenue of so many million” (let’s say, or it could be several hundred thousand dollars, or whatever the case may be)
“My business is my biggest asset. Of course, I have a house and a few other things, but my biggest asset is my business.”
Yet, over 70% of businesses are not sellable, if not even 80%. They can’t be sold.
Why Is It That so Many Businesses Can’t Be Sold?
Why? Because they’re not a real asset. A real asset is a business where you do not have to work in it daily. When you sell, the business has to become independent of you.
Interestingly, if you’re saying today, “Okay, eventually, my business has to become independent of me. Let’s begin that journey now,” you’ll be better off in many regards.
- You’ll be better off today, or at the very least tomorrow, and
- When you want to exit the business, you’ll be well prepared.
- In the meantime, you are taking advantage of all kinds of new opportunities for freedom, where you could do what you want outside and/or inside the business, but with higher quality tasks. Instead of putting out fires, you get to work on the next creative, innovative thing that is more interesting to you in the first place than putting out fires and fixing this and fixing that.
That’s What We Do
That’s really what we do, is we help transfer businesses from a regular business with all the regular problems:
- Can’t delegate,
- Don’t have the freedom you thought of when you started your business,
- Possibly can’t even sell it at the end, or at least only in a very painful way.
We transform businesses like that into a Brilliance ATM.
In another video, I will show you more about it; I’ve developed a Brilliance ATM Meter, which will tell you where on that journey you are today. With that meter, we have much more clarity about what it will take to get you from where you are today to where you want to be. The cool thing is that moving the needle along that Brilliance ATM Meter only takes a bit of time.
Interactive Q&A’s Are Coming Up
Please keep your eyes peeled because I have some interactive Q&A event coming up about how you can get quickly to the point where you could take two weeks off, two weeks or more even, but without things collapsing behind you. It’s all about increasing your bandwidth. Whatever you do with it, whether you go trekking in Nepal (I am about to do exactly that!) or innovate the next thing that has been sitting on the back burner for way too long.
What are your thoughts? What does this inspire you to do? Even a tiny step in the right direction is great. It builds momentum!
If you have any questions about this, please ping me. I’d love to talk with you.
P.S.: I appreciate you commenting and sharing this Treasure Tuesday with others. Thank you!