How To Grow Your Business By Giving Up Control
Wayne Rivers, president of The Family Business Institute and Author of The Top Nine Reasons Family Businesses Fail, talks to Louise Woodbury and William de Ora, authors of The Invisible Partnership: How To Work With Your Spouse Without Getting Divorced. Entrepreneurs must work ON their business, not IN them in order to build the infrastructure to grow their business.
In his first book, written in 1995, Wayne writes, "What Entrepreneurs love the most is control." Even though today he regrets having written this statement, it contains an element of truth. Essentially, the main reason many entrepreneurs start their own businesses is because they can't control their work environment or their own lives by working for someone else. They want to be involved in a lot of different places. Initially, a commendable trait. However, to move beyond a one million dollar venture they must move out of the way and invite a different type of infrastructure that span's beyond one person's control. A mental switch, according to Rivers, must take place in the Entrepreneur's mind for the business to thrive.