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\n\t\tOpinions expressed by Entrepreneur contributors are their own.\t<\/p>\n
Most entrepreneurs start a business because they want freedom. They envision a Tuesday morning at their child\u2019s school event or a month working from a beachside resort without the constant, low-level anxiety of a standard 9-5. They trade the predictable grind of a corporate job for the promise of autonomy. They convince themselves that being the boss is the ultimate escape.<\/p>\n
The challenge is that this reality often ends up being nothing more than a bait-and-switch. Along the way to building the business, the freedom disappears. Instead of creating a business that serves them, they accidentally build a prison filled with huge amounts of responsibility, stress and pressure. Their new \u201cjob\u201d ends up demanding more of their time than any corporate boss. Instead of being the captain of the ship, they find themselves in the grimy engine room trying to keep the power on and patch every leak.<\/p>\n
Most entrepreneurs assume this chaos is a lack of effort and double down to burn themselves out even further. They believe that once the company reaches success, they will eventually earn the right to be free. Truly free entrepreneurs do the complete opposite. They design the life they want first and then build a business model that is forced to support it.<\/p>\n
In the startup world, there is an obsession with growth and revenue. While these are critical to the life and health of the business, too much focus on this metric can end up costing you your sanity. What\u2019s the point of achieving $10M in revenue if you haven\u2019t seen your family in six months? <\/p>\n
Your Champagne Moments are non-negotiable lifestyle milestones that can set the trajectory for how you build your business. These moments become your North Star to drive your ongoing business decisions.<\/p>\n
One of the biggest bottlenecks in most companies is the founder\u2019s brain. If your services require your specific expertise to be delivered, you\u2019re operating a high-paid freelance gig instead of a business. This creates a hard growth ceiling and blocks your ability to scale your time. <\/p>\n
To reclaim your freedom, you have to productize what you do by turning your expertise into a repeatable system that can be executed autonomously or by anyone else on the team. Freedom starts when you stop being the one doing the work and shift to the one who owns the machine.<\/p>\n
Entrepreneurs often fall into the trap of \u201cI\u2019ll just do it myself.\u201d This happens because they falsely believe that no one else can meet their standards. If this sounds like you, it could be a sign that you\u2019ve hired doers rather than outcome owners. The last thing you want is to hire people who just wait to be provided a checklist before taking action. This creates an environment where every tiny decision falls on your shoulders. <\/p>\n
Instead, true freedom comes from hiring people who are capable of taking responsibility and owning specific results or parts of the delivery process. It\u2019s important to have people on your team who can take expectations and turn them into actions.<\/p>\n
Not all revenue is good revenue. We\u2019ve all had those clients who pay well, but are highly demanding. These types of clients are counterproductive to creating a business that generates true freedom. When clients expect midnight email responses and constant hand-holding, they are a drain on your resources and mental load. <\/p>\n
On the other hand, clients who value your standard processes and don\u2019t expect customized solutions require significantly less stress. While firing a high-paying client can be a scary thought for any entrepreneur, it\u2019s sometimes a necessary step toward reclaiming your peace of mind.<\/p>\n
Many entrepreneurs measure their success by the size and value of their company. What they often fail to evaluate is the amount of personal effort required to get there. Making half a million dollars a year looks great on paper, but not so much if the cost is working 100 hours a week. <\/p>\n
Instead, focus on tracking and increasing your profit per founder hour. This simple measurement will force you to rethink and remove any low-value tasks that create more strain on your freedom and schedule than they\u2019re worth.<\/p>\n
You\u2019ve worked hard to build a successful business. Congrats! The challenge is that you\u2019ve probably been so busy focused on operating the business that you haven\u2019t considered what comes next. Having an exit strategy is important to building a business centered around freedom. This doesn\u2019t mean you intend to actually walk away from the business. However, having a solid exit strategy means that the business no longer needs you. That\u2019s where you find true freedom. <\/p>\n
The best way to do this is to make sure that you have a robust set of Standard Operating Procedures (or SOPs). These documented guidelines are a valuable asset to ensure that you can step away from the business at any time and nothing bad will happen. <\/p>\n
Moving from an operator to a freedom-focused architect can be a psychologically jarring experience for entrepreneurs. We want to be in control and chase success at every corner. Building a business around your desired lifestyle and freedom will require you to check your ego at the door. It will require trusting a system over your gut instincts or flying by the seat of your pants. But the world doesn\u2019t need more burnt-out founders who sacrifice their lives, family and friends for superficial \u201csuccess.\u201d Instead of building a business with the hope you\u2019ll eventually gain freedom, start by designing your business around the freedom you want.<\/p>\n<\/p><\/div>\n
Most entrepreneurs start a business because they want freedom. They envision a Tuesday morning at their child\u2019s school event or a month working from a beachside resort without the constant, low-level anxiety of a standard 9-5. They trade the predictable grind of a corporate job for the promise of autonomy. They convince themselves that being the boss is the ultimate escape.<\/p>\n
The challenge is that this reality often ends up being nothing more than a bait-and-switch. Along the way to building the business, the freedom disappears. Instead of creating a business that serves them, they accidentally build a prison filled with huge amounts of responsibility, stress and pressure. Their new \u201cjob\u201d ends up demanding more of their time than any corporate boss. Instead of being the captain of the ship, they find themselves in the grimy engine room trying to keep the power on and patch every leak.<\/p>\n
Most entrepreneurs assume this chaos is a lack of effort and double down to burn themselves out even further. They believe that once the company reaches success, they will eventually earn the right to be free. Truly free entrepreneurs do the complete opposite. They design the life they want first and then build a business model that is forced to support it.<\/p>\n<\/p><\/div>\n