Every entrepreneur knows that setting goals is crucial to business success. If you don’t know where you’re going, how will you know when you’ve arrived? Or, more importantly, when you’re heading in the wrong direction? If you’re the owner of a small business, what is your goal? Is it to make it to the end of the month with enough money in the bank to cover the payroll? Is it to take a holiday for the first time in five years? Every small business owner should have the same goal – sooner or later, to become independent of the business.
Small businesses turn into big businesses only when they are able to operate smoothly without the owner being present. When you can stay away for a week, or a month, or a year, and return to find the business running better than before you left, you have the opportunity to do whatever you like – be it selling that business and start a new one, retire, or buy a yacht and sail around the world. True financial independence is the ability to live your life doing what YOU want to do. Do you really want to show up for work an hour early every day, leave late at night and never take a holiday, for the rest of your life? I don’t think so.