Today on the podcast, we have two fantastic in-house team members, Tracey Thompson and Lindsay Bjorklund here to talk to you about the three phases of ownership. Listen in as Tracey takes you through each one and how to ultimately arrive at the phase all of us want to arrive at the phase of being a stakeholder in your business. You’ll learn the first step necessary in order to move towards this phase and why you can’t move on without it.
In phase one of ownership, you are grinding. This phase is when you’re working the hardest. If something is going to get done, it’ll get done by you. This is the phase we often think of when starting a business. We hustle, work long hours, fail and figure things out, and we are all in to make this thing work. This phase is necessary. Without it, your dream of building a business will stay just that- a dream. All this said it is important that you don’t stay in this phase forever.
In this phase, you start to realize you can’t run a business by yourself. During this phase, you start to hire people but you’re still working hard. You’re working hard alongside other people. During this phase, you’re still working mostly in the business instead of on the business.
In order to move into phase three of ownership, you have to start to think about yourself as a stakeholder before you BECOME a stakeholder. Being a stakeholder means you create jobs for others, not jobs for yourself. It means you ask yourself how you can be more efficient instead of more effective. Efficiency takes you to a place of overseeing the work being done. So this whole mindset is about running the business, not working in the business in any way. If you feel like this phase will never come, it’s time to really ask yourself what limiting beliefs you have about why you aren’t ready to be a stakeholder. For many, it’s the fear that no one will do it like you, or that your clients won’t like you stepping away from cleaning. Using core values can be a huge help in getting clear on what is really the most important in your business, and it is a way to make decisions with trust that they are the best decisions for your business.