When you started your business did you dream of independence and financial freedom? Then absentee ownership was your overall exit strategy you wanted whether you knew it or not! From this point on, every decision you made should have focused on accomplishing that outcome – becoming an absentee owner.
Like most business owners, you’ll probably wake up 10 or even 20 years later, still going to work in your business. This happens because you never changed your employee mindset after leaving your last job to start your business. As a result, you work your business like an employee…to earn a paycheck.
Does This Sound Familiar?
If this sound familiar, what should you do? If you said, “yes, but I need money to pay my bills.” Your answer shows you consider your business a job, and you’re thinking like an employee.
You need to start thinking like an entrepreneur and building a passive income asset, which is how absentee owners generate income. Build your business as a wealth generating asset that becomes an on-going annuity for you and your family. Isn’t this why you took the risk to start a business in the first place?
Don’t wait until something unexpected happens, or you wake up some day and don’t want to go to your job (business) anymore! Stop treating your business like a job and start building it for independence and financial freedom
I Love What I Do and Don’t Want Absentee Ownership
Maybe this is more your story. “I love what I do and don’t want to retire.” You don’t have to exit your business once it’s reached the self-sustainability stage of business growth.
At the self-sustainability stage your business is set for absentee ownership which immediately reduces your family’s risk. You never know what life holds in store for you, and I can speak to this lesson from personal experience!
If you wait until later when you decide you’ve had enough or if life makes the choice for you, you’ll get a kick in the gut and it hits hard! Frequently small business owners seek our assistance when this happens.
But you don’t have to wait. You can learn what to do now which results in more control of your life and business. You’ll grow your business faster and build an income generating asset in the process. Now you can exit your business on your own terms, whenever you want!
How to Build an Asset for Absentee Ownership
So, how do you build a self-sustaining business that generates a passive income for you? Easy, just follow the SPARC Business Growth Framework. SPARC is a process developed to create a self-sustaining business
You’ll begin by finding the current growth stage of your business. Next, review which of the 8 factors of business growth aren’t functioning optimally in your business. Then build an action plan to begin correcting each factor which results in a self-sustaining business . Now you can retire from your business whenever you choose. Do this right and you can retire in 3 – 5 years.
How You Can Get Started
As you begin thinking about your business ask yourself, “do I still want the independence and financial freedom I dreamed of when starting my business, or do I want to be an employee with a job in my business?” Be honest, because making absentee ownership a priority gives you the life you really want!
Get started by finding out your business growth stage and condition of the 8 growth factors FAST by ordering a Business Growth Assessment. Just answer the 37 yes/no questions and find out what’s missing to get to absentee ownership you want.
If you already made the transition, tell us your story. What was your “ah ha moment” when you realized you created a job and helped you begin building your business like an annuity?
