The most important thing you can do to help you and your business is to become operationally irrelevant in the day-to-day operations of your business. It’s also the most difficult thing you’re gong to do as you create an economically sustainable business.
I’ve become convinced that you aren’t going to sell your business when you’re 65. You may not even transfer ownership and control until you’re 75 or even older. If this sounds true for you, then this video is for you. Today, you’re going to learn about the four stages of transition. We’re going to start with what skills you need to become operationally irrelevant in your business.
You know, the most important thing you can do to help you and your business is to become operationally irrelevant in the day-to-day operations of your business. It’s also the most difficult thing you’re going to do as you create an economically sustainable business.
I’ve become convinced that you aren’t gonna sell your business when you’re 65. You may not even transfer ownership control till you’re 75 or even older. If this sounds true for you, then this video is absolutely for you. Tody we’re gonna learn about what the four stages of transition are, and you’re going to need to know what these four stages are as you become operationally irrelevant in your business.
So let’s jump right in with today’s video.
So to become operationally irrelevant, you’re going to need to:
- Learn how to become a delegating ninja. That means you’re gonna have to become really, really great at delegating. Not just delegating to the person who’s going to actually do the job, but delegating to the person who’s gonna manage somebody else that’s doin’ the job. So you’re actually gonna have to learn how to delegate to another delegator. This is a really difficult thing to learn. Now most of us, when we try to learn how to just delegate to somebody doing the job, we do a really bad job, and we just give up. But if you get through that, the next skill we need to learn is how to delegate to the delegators.
- Number two, you’re gonna have to systemize your business so you don’t have to tell everyone what to do all the time. If you have systems that are written down in place, people can go to those systems, look at ’em, read about it, and find out what they need to do to have excellence in their job.
- Number three, you’re going to need a great dashboard, so you can stay on top of what’s going on in your business and know that if something goes wrong you’ll know about it quickly.
Now to get there, to do those three things, you’re gonna have to go through some changes as a business owner. I think it’s important for you to understand the stages of change and what each one means. In some cases, these four stages will get smushed together. In some cases they’ll be distinct and separate.
So here are the four stages of the transition and how each one impacts your work as a private business owner.
- Number one is anticipation. This is knowing where you know you’re gonna make a change, but you haven’t done it yet. This is the mindset stage. This is where you set your mind and a point where you say, “I wanna make this change. “I wanna do this. “And I’m anticipating it happen.” Now sometimes the anticipation isn’t something that we wanna have happen. For example, during the coronavirus, we don’t have a lot of anticipation about us going out of business, but still it’s a stage that we were in. And some of us didn’t go out of business. Some of us are going out of business.
- The second stage is ending. This is where you start taking actions, where it goes from one stage to another. Now in delegating, when you’re learning how to delegate, which is what we’re really talking about as far as the stages transition today, there really isn’t much of an ending because you’re gonna have the anticipation saying, “I’m gonna learn how to delegate. “I’m gonna do it well.” And there really isn’t an ending between when you weren’t delegating and you were delegating. It’s just where we start learning how to delegate.
- Number three is what we call passage. Now passage is a really messy part of the change process, the really messy part of the transition process. This is where fail fast, fail cheap can really benefit you well, where you start doing small experiments. See if they work. If they work, you go forward, and if they don’t work you stop. You’re gonna be required to work on your new mindset and take actions that support it here ’cause you’re in the middle of passage, and you’re gonna go off this way, and you’re gonna go off this way, and before you know it you’ve actually found a way that’s getting you to where you wanna go. And a really good example of this is you’re learning how to delegate. The first time you do it, it’s gonna be a total disaster. The second time you do it, it’s still gonna be a disaster but probably not as much as it was the first time you did it. The third time you do it you’re gonna say, “You know something? “That started to work well, “and this worked well, and this didn’t work well. “And because we did it fail fast, fail cheap, “with small experiments, we’re able “to find out what works and what doesn’t work.” Now one thing I want you do be really careful about while you’re in passage is don’t try to make three, or four, or five changes at once. Make one small change at a time. See if it works. Most of the time it’s not. So you let it go, and you try something else. And if that works, you keep it.
- And then finally we get to the new normal. This is often a few years after you start in any sort of transition, to go from anticipation, through ending, and passage, and finally getting to new normal, it takes a few years to get there. When I was learning how to delegate, it actually took me five years, or six years before I went from being the worst delegator, where I didn’t delegate, I just yelled at people, to one where I was actually a pretty good delegator, where I could actually set up a system, have delegated it, have a dashboard where I’m making sure that what I’ve delegated is being done properly, but it took me six years to get there. So after you’ve learned what you need to know, and your business, you’re gonna be in a different place. You as a business owner are gonna be in a different place. My bet is, if you learn to be a good delegator, and you go through these four stages of transition, you’re gonna walk out the other side being a much, much happier person.
So there you have it. You know what you need to learn and process. You know what you need to go through. You ask yourself. Now I know that this is a process I have. It’s simple, and I’ve worked with hundreds of business answers over the years, and I’ve seen the process repeat itself where it works, and it works, and it works, but you have to go through these four stages of transition. You can’t skip it. You might try to think you can skip it. You just can’t.
So why don’t you scroll down and let me know what you think about the stages of transition and how it’ll help you move your business to a place where it becomes economically and personally sustainable.
This is Josh Patrick. You’re at The Sustainable Business. Thanks a lot for stopping by. I hope to see you back here really soon.