One of the hardest issues of being a business owner is dealing with quantum change.
We, as business owners and leaders, are often fighting for a goal. We want, or need, to get to a certain milestone in business.
It can take days, weeks, months or even years to get to that goal. And when we do it’s time to celebrate.
But the reality is by the time you reach a long-held goal it’s probably time for your priorities to shift.
As we age, priorities shift. As we gain experience, priorities shift. As we take on new roles, priorities shift.
And if your business is growing rapidly priorities will shift even faster.
Let’s look at the realities of getting you ready for shifting priorities if your business is growing rapidly. The lessons will also apply if you are getting your business ready for a rapid expansion (you’ll just have these tools ready for when you need them).
#1 – We Cannot Hold Onto The Static
There is a tendency to hold on the static, or fixed, states that we seek.
And in past years it used to make sense to seek a certain fixed target and work towards it. And you could work on it and it would still be there when you get there.
But in the modern era things are shifting fast. The iPhone just hit the market in 2007. Since that time the use of phones, computers and the distribution of information has been radically altered.
We can no longer focus on one goal because the target is moving. It’s moving as our life changes. And it’s moving as the external environment changes.
#2 – We Need To Allow Goals To Change
Because we are in a fluid, and not static, world we need to have the flexibility to allow our goals to change.
This means not holding on. Not holding on to outdated notions. Not holding on to dreams that aren’t available any more. Not holding on to what you once wanted but don’t really want any more.
One of the biggest mistakes I see – that holds a lot of business owners back – is that they keep holding on to old dreams when they’ve grown.
Just because you wanted it in the past doesn’t mean you want it now.
#3 – You Need To Allow Yourself Time To Re-Evaluate
The biggest part of letting go of old dreams, and bringing in new dreams, is to allow yourself time to re-evaluate your dreams. Stop. Pause. Consider why you want what you want.
Also consider whether what you are striving for is what you really want. This can be scary because we might have told our friends and family we had a goal to “spend a year in Greece working remotely” but as your parent’s health shifted you decided that spending a year working from their home town is more important right now.
It’s OK to change.
Sometimes the market will shift. Sometimes you’ll get new information. Sometimes you’ll find something new to go after that is more important than what you were going after in the past.
All of this is OK.
Stop. Regularly. Re-evaluate.
#4 – Increasing The Frequency of Re-Evaluation
As your business starts to grow rapidly a lot will change.
Odds are you – and your management team – are growing quickly as human beings if your business is growing quickly. The two go hand-in-hand.
And if you and your business are growing quickly you need to take the time – serious time – to re-evaluate where you are headed, personally and in business, regularly.
I, in fact, encourage management teams to talk about their personal goals with each other. It gives folks a deeper understanding of the person you are and it might lead to business opportunities.
For instance one of my goals is to spend time in mild climates during the summer (hey, it gets hot in Orlando, Florida and Dallas, Texas – where my offices are – in June, July and August). Expressing this goal to my business partners has led to a number of business opportunities.
#5 – Letting Go Of That That Doesn’t Serve You
Part of new priorities is that some things you have worked on, started to build, or own will no longer serve you.
You will need to let go.
At some point what used to be assets become anchors. Every asset you have has a cost to it, whether it’s keeping a book current, the time you spend checking and safekeeping your assets, or the rent on that office you no longer need.
Get rid of the things you don’t need any more.
Is something from your past truly part of your future?
If not, you know what to do!
What To Do Now
Start with a solid evaluation of your dreams.
Where do you want to go – based on how you see the future now – and what does that mean for your goals?
Build a new vision.
Don’t rush this process. It’s hard to build great goals in society. Everyone wants to influence you on what your dreams should be (usually because it serves them, not necessarily you).
You need to pause, think and unpack what you really want.
Outside help can help you set better goals and unpack what you really want, what is causing you to get misguided and what your path to the future should look like.
If you need that help there are thousands of coaches out there. Pick one based on who you trust. And you happen to think we should work together give me a call. As of the time of writing I have one coaching spot open for one business owner and leader. But expect me to vet you. I want to coach people I can really help.
LET’S DO MORE: If you are a business owner or leader let’s be in touch more. I’d love for you to read my online work and give me your honest feedback: join my mailing list, follow me on LinkedIn and jump into my Facebook Group.
NOTE: This article is a piece develop a small portion of the content of the book tentatively called The Journey: Finding Your Place From Entrepreneur to CEO being co-authored by The Our Shawn McBride and Ann Gatty. If you want updates on the book including the possibility of joining our release team or getting one of the first copies please join our mailing list here.
DISCLAIMER: This article talks about legal issues. I am a lawyer licensed in multiple US jurisdictions, but I am not your lawyer unless we have signed an engagement agreement. Please view this material as educational and general in nature (as it is). Consult counsel you have retained for advice on your specific facts and circumstances and applicable laws. Do not rely on the statements in this article as legal advice.
By: The Our Shawn McBride, is the business nerd and long-time business attorney that focuses on changes of ownership in businesses. He works with business owners that know their business is about more than themselves to get ready for their future through keynotes, training and personalized solutions. In furtherance of this he hosts The Future Done Right(TM) Show where he collects, digests and gives lessons and insights on The Future of Business. If you want regular content on the future of business subscribe to get new blog posts from us here.
You’ll quickly notice his unusual suits which he uses open the conversation of how businesses should Do Business Differently™.
The Our Shawn is based in DeLand, Florida (between Orlando, Florida and Daytona Beach, Florida) and Dallas, Texas where he keeps offices. You can also find Shawn on webinars or traveling nationally or internationally for speaking engagements.
Check me out at: www.planningdoneright.com
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