For some business owners, they created their business as an asset that would provide for them well into the future. It means they have other future desires like moving to a new location, focusing on other wealth generating strategies, or just spending more time with their family. They built their business to not be another job.
We call this: “Passing the Bus Test.” When a business owner removes themselves from their business, we need to know that the business will still be successful without their needed input, decisions, and feedback. The Bust Test uses the exaggerated concept of: If you left your business and got hit by a bus, could the business carry on functioning – and succeeding – without you?
Most business owners would answer no. The thought of this is daunting, and one that they don’t know how to execute.
Business owners being able to remove themselves from the day-to-day dependency and still have it succeed is possible, but it takes some carefully calculated steps. It means the business owner needs to systemize all of the operations within their business, and they need to both hire and lead a team that will carry the Mission forward.
When entrepreneurs first start their business, they’re usually the only ones who are performing the tasks. Everything is locked up in their head, and it’s routine things that they do every single day that they probably don’t need to think about.
When they make their first hire, it usually goes awry because that employee needs to know how to perform these tasks at a 10/10 standard, but isn’t left detailed instructions.
You can make this easier for your employees by writing out SOP’s – Standard Operating Procedures – over every task that is involved in your business.
Start by taking the most routine tasks in your day, and writing down every step of how to perform them. Pretend you’re trying to teach a 5 year old how to execute this task. Keep things super simple, and to the point.
When you present these SOP’s to your staff, any further questions are red flags that you must update your SOP. Anytime a staff member asks another question about any other task, write a new SOP to accompany that.
You can make this easier on yourself by using things like Loom to record the clicks you’re making, and it will even transcribe your voice as you talk through these steps, into text.
Establishing an organizational chart in your business is essential before you step away. This will help each of your staff members understand their role, and what the accompanying communication matrix is. This also establishes authority, and responsibility. It becomes very clear which level of your staff is responsible for the one below it, and who talks to who when problems arise.
Each of these staff members should have a clear understanding of the expectations and performance indicators they are being evaluated on. Using daily/weekly/monthly/quarterly checklists for accountability is helpful in this stage. The Staff Feedback Loop also becomes critical at this point, as now that the employees understand the expectations behind their role, they are then evaluated and given feedback on a routine basis to help them perform to standard, and grow within their role.
It goes without saying, however, that systemizing your business needs to happen first before you work on growing your team!
Locking in the SOP’s and systems to your business will help your employees perform and meet the expectations that have been set for them. When your team continues to meet their expectations, your business will continue to grow!
Our team at Perfect Day Business Mentorship can help you make sure you’ve got the roadmap to freedom of time in your schedule, away from your business. Book a FREE Strategy Call with us!