Can You Take Leave?
This is not a legal question or one of human resources, but aimed at you the business owner. When last did you take a considerable chunk of leave to relax and refocus and not put your cash flow of business in jeopardy?
Have a business model that allows for the owner to take time off is not something that just happens, it takes focus and effort to build a business that does not rely 100% on the owner’s time contribution or effort. Let’s unpack some of the issues that small business owners face:
1 Selling Time – The business owner sells their time as the primary source of income. This will always restrict the time the business owner can take off. Any time away from work reduces income. It is important to develop passive income streams from other staff, products or services.
2 Undocumented processes – No one else knows what to do, as all the processes reside in the head of the business owner. This results in errors of work done or just nothing been done when the owner is away. It is important to document procedures or at least train others to do certain tasks and processes up to a reliable level to ensure that the cogs of the business continue to turn whilst you are away.
3 Unreliable staff – Staff who are unable to do the job always become a liability to the business and require high maintenance from the owner or managers. Sourcing good competent staff is key to developing a business that can run without you at the helm all the time. This goes back to proper recruiting, training and management of staff at all levels.
4 Unproven business model – a business model that is not mapped out or is just made up as things go along, will always require a 100% effort to maintain any form of direction or stability. A business model with various forms of income streams, support structure, processes and reliable backups is key to growing a business to a point that when the owner is not present, things continue to function and the income continues.
Developing a sustainable model is key to not only growth but allowing you to have a holiday and still return to a functional business with cash in the bank. Our Productivity model can assist you with this is you are struggling to find focus and the idea of a holiday this year seem just a distant myth in your plans.