23/05/2017
News & Blog > Strategy
We speak to many business owners who are proud of the fact that they ‘run their own business.’ However there is often a lack of clarity between the definition of hours worked in the business rather than the time spent actually running it.
To build a growing company the entrepreneur needs to spend sufficient time planning and reviewing the strategic direction of the company as well as carrying out the ‘day job’. Finding this time may be challenging, but the cost of not doing so could be far greater, quite often resulting in a business that stalls and stagnates. We often speak to owners who default to working longer hours in the business to kick- start the company but this is rarely the only answer.
Implementing and developing robust systems and processes is crucial for all growing companies. These need to be documented to ensure that the company can operate efficiently without the constant involvement of the business owner and will be a significant factor in enhancing capital value.
Building a reliable second tier management team that is highly engaged with strong leadership and clear direction must be the target for the ambitious entrepreneur. Does the business work as effectively when the owner is on holiday or do they spend endless hours calling in to the office to resolve issues?
When the time comes to realise the value for the years of work and risk taking the asset becomes far more valuable if these structures are in place. Whilst there are many successful lifestyle businesses, our business model is to work with ambitious entrepreneurs to develop exciting high growth companies that share a vision and a strong desire to maximise their potential. In our experience, this only occurs if the owner is willing and able to spend the time working on the plan as well as working in the business.
Our Invested Partnership model provides capital, support and expertise, alongside entrepreneurial experience. Please refer to our case studies for further information.