by Lorraine Ball
How often have you said that? When I retire, I am going to travel more, read more, exercise or spend time with family. What are you waiting for?
Imagine, you were never going to sell your business and never going to retire? How would you change your business plan and your life? You would probably start doing a few things differently.
Business Changes:
- Delegate More – Picture this: you can spend your time on the things you truly enjoy and that add value to your business. Delegate tasks that don’t need your expertise. You might even empower your team members by training them to handle these tasks. For those services that take you away from value-added activities, consider outsourcing. This shift not only liberates you but also provides growth opportunities for your team.
- More Clarity on What You Do – Remember the early days when you took on any project to pay the bills? Now is the time to be selective. It might be tough to turn down less-than-ideal projects, but this gives you the capacity to embrace the right ones when they come along. The clearer you are about the work you want to do, the easier it is to position your business to reach the right customers.
- Employee Development – If your employees are in it for the long haul, hiring decisions become pivotal. Spend more time evaluating candidates for both skills and cultural fit. Implement a formalized orientation and feedback process. Invest in continuous education and personal development for your team. After all, they’re here to stay!
- Raise Prices – A business that lasts forever needs to be profitable. So, don’t hesitate to adjust your prices accordingly. While you might lose a few clients, those who stay will genuinely value what you do. Quality over quantity, right?
Life Changes:
- Regular Vacations – With no retirement in sight, it’s time to see the world. If your business can’t function without you, consider revamping your business model. Take those well-deserved breaks. After all, you’re in it for the long haul.
- Learn Something New – Remember all those things you planned to learn when you retired? Well, there’s no reason to wait. Sign up for that class or set aside an hour each week for self-improvement. Learning new things keeps your mind active, making you healthier and more interesting.
Start Now:
Create your list of changes, both for your business and your personal life. You may not retire, but that doesn’t mean you can’t start living your best life today. Pick one change, and whether it’s related to your business or personal life, make it happen now. As you embrace these changes, you’ll find yourself enjoying your business and life more, and that energy will naturally flow into activities that enhance both. Welcome to the world of the forever business!
