How to Survive the Journey of a Successful Family Business Owner
STOP THE FREE FALL, START THE ADVENTURE
Robert James and James Home Services:-When you started your business, it took a major leap of faith. It took a generous helping of true courage to chase your dream, and to convince yourself to start your business. As a business owner, you are in the very brave group of individuals who have done what the majority of the population is too fearful to even attempt.
If your business is actually growing and succeeding, you are in an even more elite group. Did you know that 95% of small businesses in Australia fail? That means only 1 in 20 make it to the five-year mark? If your business is succeeding you have beaten the odds. Nice one.
Starting your business probably felt like you had just jumped out of a plane and found yourself in a chaotic free fall. There’s no doubt that free fall can be exciting, but it’s not going to bring your business success in the long run. Even if you love the rush of free fall, it could be time to take control of that feeling and start to enjoy the adventure.
I see it like evolving into the professional skydiver who can do amazing moves that the novice never dreamed possible. If you want to be able to enjoy your adventure on all levels, there is a proven framework that can help you take control of your free fall.
Take time out to evaluate
Do you sometimes get so busy that when the day ends you have no idea where the time disappeared to? Monday turns into Friday and you think, where did the week go? You were very busy but not sure if the important stuff actually got done.
To have a successful business adventure it is vital for your business, your family and yourself that you start taking some ‘time out’. I’m not talking about useless going on, like checking Facebook, reading junk emails or watching videos on YouTube. I mean real downtime, to help you evaluate how you are investing your time and to help you focus on the direction in which you are heading.
‘I don’t have time, I’m too busy,’ I hear you saying. Not true. You can diarise your timeouts. Every day, give yourself at least 20 minutes to yourself, to focus on where you are investing your time and energy — make it a habit.
Before you start your work each day, find a quiet spot where you can really think. Take a fresh attitude, a notebook and a diary. You are now ready for an effective timeout to get you on the right track for the day.
I use this time to evaluate yesterday and plan the day ahead. is this before the urgent issues of the day attempt to start calling the shots.
Taking yourself and your partner away for the big picture timeout, where you can both focus on where you want to head, is both fun and inspiring as well. In the Robert James and James Home Services Group, we had an annual general meeting, a conference that was meant to reward the top franchisees and educate the group. Every year, it ended with a celebration for all.
As the leader, I used this weekend as an annual trigger for me to evaluate the year past and refocus on the year ahead.
Give yourself consistent time out to think. When you are always in reactive mode, the res that turn up in your day will eventually burn you out.
Make a plan
I don’t mean a formal business plan, although they are also very useful. I’m talking about a plan for your future, family, business, and all things that are important to you. Where is your adventure heading? What is it going to look like when you get there? Throw in every single detail that comes to mind — everything you plan to achieve on this cool, exciting adventure.
Then evaluate again. If you don’t really want that new house on the water or the Rolex, draw a line through it. The things you take off your list will help give you clarity as to what direction you don’t want to go. Don’t make it what other people think you should do or be.
This is not a ‘wish list’ but a plan for your future.
Make a definite decision
What is the difference between a definite decision and a normal decision? The definition of definite tells the story. According to the Oxford Dictionary:
Definite: Clearly stated or decided; not vague or doubtful.
It makes all the difference in the world. You may look at the menu when you go out to dinner and decide on the steak. Then, by the time the waiter gets to your table to take your order, you see the seafood platter and decide on that instead. Some decisions in your life aren’t ‘definite’ and that’s fine.
The decisions that form the foundations of your life’s work have to be de definite decisions for you to succeed.
Find your why
Ask yourself the question, ‘Why am I doing this?’ Find the spark that sets your soul on fire; the emotional drive that makes you keep going even when things don’t go to plan. What keeps you moving when you hit the wall and you can’t see a way through? This is the reason you will not give up when you are faced with huge obstacles that mere mortals have not even considered attempting to defeat.
Find the ‘why’ that will give you the courage to face your greatest fears and take them on. It is the same why that drives you to make time for the important family stuff, like shooting hoops with your 12-year-old son or jumping on the trampoline with your 9-year-old. Or, making time in your day to have lunch with your wife.
As I write this paragraph, I look up at photos of the five people who have always been my why — my awesome children. I have always done my very best to be their inspiration, to show them first-hand how to be brave enough to chase their dreams.
Your ‘why’ is your personal true north. Find it and stay true to it, especially under pressure.
Take inventory
You have assets and liabilities in your business and in your family life. Some are in both. This does sound very clinical — even contradictory — after talking about your why, but the pragmatic evaluation of the assets, weaknesses, threats and opportunities in your business and family life is key to building an effective strategy to balance both parts of your life.
This may even show you very clearly why you are out of balance. If you are married to someone you really shouldn’t be, it will make it impossible to get your balance right. You will be spending more time at work to deliberately avoid the person at home, who you don’t want to be spending your life with. A divorce is a terrible thing to go through, but staying married to someone you should have divorced is a lot more painful (believe me, I know).
If you have employees that are assets, then recognise them as such. If you have employees that are liabilities, they should be dealt with as soon as possible.
Lay down your foundations
Every great adventure requires a compelling mission. The more compelling the mission, the more exciting the adventure will be. If you chase your dream and are brave on all fronts, you will create your own luck. Fortune does favour the brave, and you do get a bigger rush this way. Your mission should have clear foundations on all fronts.
The foundation for your family mission is the first foundation to address. Create a clear picture of your personal ethic. What do you believe it means to be a true parent, spouse, friend, brother or sister, son or daughter? This is a big question. These are the foundations you will use when you make decisions.
The business foundations have to be consistent with your foundations at home. You can’t be honest, caring, loving and pragmatic at home, then become lying, selfish, hateful and back-stabbing the moment you walk into the office. The Dr Jekyll and Mr Hyde thing will blow up in your face.
I have dealt with many people who think they can play both sides of a situation and ‘play people’ to suit themselves. They will even argue they are different at work, but they are not. The businessperson who cheats at work will also cheat at home. You may think you’re smart enough to get away with it. Let me tell you, you are not. The people around you get to know you, and although they may be reluctant to call you out, eventually someone will. And the person in the mirror knows for sure.
If you deliver on your mission, you have every right to demand the same from those in your life. If you are a loving, supportive, fun, caring, honest, faithful, hardworking and giving spouse, you shouldn’t expect or accept anything less from your partner and family said Robert James and James Home Services.
Document your family and business mission based on your personal foundations — be clear, definite, and long-term focused.
Originally Posted:- http://www.robertjameshomeservices.com/how-to-survive-the-journey-of-a-successful-family-business-owner/
