Opinion | Building a real business | Paul Siderovski

So why did you get into business? More time, more money, freedom to be your own boss. Sound familiar? Do you wish it was true? Yes of course. But you certainly found out quickly that all the reasons you started your business are not as easy as you thought.

There is ONE thing I have identified as a major block to building a real business. In short – YOU. The focus needs to be on the highest and best use of the owner as opposed to the day-to-day things a business needs the owner to do.

Think about this. You took the guts to start your own business. You had a vision. You are willing to do whatever it takes to make it work. You have a skill that you were good at that made you go into business. In simple language, you are the artist of the business with a core skill, yet inevitably you end up doing bits of everything as often cash flow is non-existent and you are trying to save costs.

How do you get to the next level? Bring into the business a manager/leader who is focused on systems, procedures and the functionality of the business to allow you to thrive in your core skill. It then becomes about the highest and best use of your time and energy.

Build a business based on trust and this key person will be the game-changer for your business and life. I know this first hand and it has allowed me to explore new opportunities and really work in the areas I am good at, furthering my core skills. Taking the step to invest in your business by putting a person into this role is the one factor I consider critical to building a real business. Don’t get me wrong, there are plenty of more things that follow this, but this is crucial. 

Is it hard to find these types of super humans that will help me build a real business? Of course! Be clear on what you are trying to build (the vision) and the right person will put their hand up. You may have to kiss a few frogs before you find the prince or princess, but that’s part of the journey.  Before you rush out and advertise for someone, here is a cheat sheet to improve your chances of first-time success:

  1. Read ‘Start with Why’, by Simon Sinek, and get clear on your Why, How and What
  2. Prepare a commercial vision for the business for the next period (say 2-5 years)
  3. Get clear on your values and how you want to be and show up
  4. Deliver it to the right candidate

Paul Siderovski is founder and managing director of SiDCOR Chartered Accountants