The objective in the next two Leap Lessons is to create a vivid picture of the life of an entrepreneur. We’ll take a look at both the best-case and worst-case scenarios. All kinds of things happen, both good and bad, when people take the entrepreneurial leap. Recognizing the contrast will help you avoid mistakes and get where you want to go faster.
Today, let’s take a look at The Dream
This scenario is possible. I help my clients achieve it every day. However, it is possible only after you take the leap and survive the start-up phase. The dream is the reward for the tough years of building your business.
For this exercise to be most effective, you need to put yourself into the following scenario…
Picture this. It is ten years from now. Your offering to the world has taken off. Your clients or customers love and appreciate it.
You have great people working for you, who are as passionate about your product or service as you are. They are as passionate about your customers as you are. They work hard and are fully engaged every day. Everyone is crystal clear on their roles and their responsibilities. They are completely accountable and do what they say they will.
You wake up every day at the best time for your unique body, which maximizes your energy. You complete your morning ritual and then head off to work.
You meet with your leadership team, the people who report directly to you, at the beginning of each week, for a full day each quarter, and once a year at an annual 2-day planning retreat. These meetings help you get a pulse on your company to make sure everything is on track. You solve problems, set priorities, determine goals, and make plans. Your team fires on all cylinders.
You spend time during the week meeting with customers, getting a pulse on their needs, solving their problems, and making sure they are receiving value.
You spend planned-out time during the week thinking about and clarifying the company vision and plans. You focus on customer needs and expectations, ideas for innovating, communicating, and delivering your offerings, and ways of staying one step ahead of your competitors.
On average, you solve six problems or make six decisions each day. That’s because solving problems and making decisions are responsibilities you will have until the day you sell your business or retire.
You get home at the hour you want, with plenty of time and energy for your family and friends.
As an active business owner, you are juggling about three to five important projects at any given time. Each project is focused on supporting and growing your business, and the process energizes you.
You pay yourself fairly—an amount equal to the value you provide. This is enough for you to afford your lifestyle and save enough to retire at the age you want. In addition, you—and your partners (if you have them)—take a quarterly profit distribution that is above average in your industry, because your company is so well run.
Your highly engaged, committed leadership team and employees receive bonuses or profit-sharing for their contribution to generating an above-average bottom line. Your business and its value continue to grow. Every year your business is worth more. Its value is such that, if you chose to sell, you would receive a large amount of money and be financially set.
During the year, you take as much time off as you choose, which keeps you recharged, balanced, and able to remain a visionary entrepreneur for your people.
Can you see yourself in this dream? That’s what can happen when you become a successful entrepreneur. All the cogs of the machine you have created are working in sync. I created Entrepreneurial Leap to help you achieve the entrepreneurial dream – and get there faster, with less heartache.
Take a few minutes and jot down how you see your ideal life as an entrepreneur ten years from now? The clearer your vision, the more likely you are to achieve it.
Stay tuned for Part Two, when we look at the entrepreneurial nightmare – and how to avoid it.