Author Box
Articles Categories
All Categories
Articles Resources

Create a Business That Doesn't Need You

February 28, 2012 | Comments: 0 | Views: 157

One of the workshops that I attended at the 2012 New Jersey Women's Entrepreneurship Series was about revamping your financial strategies. Although it was partly about how to prepare a business plan, the discussion about creating a business that works when you aren't there is what caught my attention.

There are many businesses out there that consist of one person and maybe some support staff. These businesses are totally dependent on the business owner being in the office and doing the work. Examples of these types of businesses are solo accountants, financial planners, architects, computer consultants, event planners, dog care businesses, and life/business/wellness coaches. These business owners can't go on vacation without taking files with them, can't earn any money if they are not doing the work, and cannot sell their businesses when they want to retire.

Most business owners don't really want this kind of business. They may not want to build an empire, and maybe they can't see their business becoming the next hot thing, but most business owners want to make money from their business without needing to be there. In order to create that type of business, you must shift your thinking. You must plan how to grow your business so that it is not entirely dependent on you. If you are in a service business, you must think in terms of how to create and sell something else that is related to your core service, something that can be sold to the public without you doing the work (typically this will be an information product that you do once and then replicate as needed). And you must strategize how to create a business brand that is not entirely driven by you. If you sold your customer list to someone else, would your customers/clients do business with that someone else (even with a recommendation from you) or would they look elsewhere? If you create a business brand for a company and not for you personally, you have a better chance of selling your business to a third party. You must look at your business and determine what aspects of it are valuable to other people, both while you own the business and when you are looking to sell the business.

It takes time and brainstorming and working on a plan to create this kind of business that doesn't need you there. This is the kind of business from which owners make the most money and have the least amount of stress.

Robin M. Gronsky, Esq. is the owner of Gronsky Law Office in Ridgewood, New Jersey. If you need a lawyer to represent you when you are starting or growing your business, buying or selling a house, or need a will, living will or durable power of attorney, contact Robin by telephone at: 201-251-8001 and by e-mail at: For more information about the different services that Gronsky Law Office provides, go to

Source: EzineArticles
Was this Helpful ?

Rate this Article

Article Tags:

Business Owner




Business Brand


Selling Business


Income Streams

In India, employment opportunities are set to grow by a good margin in the coming year, a phase which was started in the turn of the second decade of the 21st century. organisation, candidates with

By: Sarkariexam l Business > Careers Employment l April 01, 2013 lViews: 11708

Sometimes it is amazing to see that certain jobs can precipitate huge turnouts in the recruitment drives. It is as if thousands of people were waiting for the vacancy advertisements and the moment

By: Sarkariexam l Business > Careers Employment l December 30, 2012 lViews: 690

In recent times, jobs in healthcare segments have grown tremendously. It is anticipated that this growth curve will continue for the times to come. Various factors are responsible for this

By: Sarkariexam l Business > Career Advice l December 27, 2012 lViews: 448

Are you in a dilemma whether to choose web based CRM or not? If yes, don’t worry. You aren’t the sole person having this doubt.There are numerous firms trying to make out whether investing in a

By: Reneta Vasileva l Business > Customer Service l December 23, 2012 lViews: 409

If you think about it you will realize the fact that each business has its own set of risks that are involved in it.The trade secrets that you have and the information related to the business is what

By: brumbrum1 l Business > Risk Management l December 23, 2012 lViews: 263

As the time is changing, concierge management services are now growing despite the slowing economies of the world. The main reason of it is the need that is highly specific to the people who like to

By: willsmith10 l Business > Management l December 23, 2012 lViews: 334

Controlling our speech may be the most difficult discipline. To be able to control what one says in the negotiation process reveals strength and poise.

By: Rhett S Kniepl Business > Small Businessl July 12, 2012 lViews: 239

It's amazing how when things get super busy and we try to speed up, Murphy's Law or nature in general takes over with things to slow us down - whether we get sick, overwhelmed, or just mess things up

By: Sandra Martinil Business > Small Businessl July 11, 2012 lViews: 219

As a small business owner, you need to make the best of your limited resources. And your website is one of them. Are you dependent on some third party to make your updates and resolve your issues?

By: Pragati Bidkarl Business > Small Businessl July 11, 2012 lViews: 196

If you are running a mutual fund organization, it is mandatory that you understand certain regulations that the fund is subject to. SEC, the US Securities and Exchange Commission governs mutual funds

By: Sarah Johsl Business > Small Businessl July 11, 2012 lViews: 233

Sometimes waiting for an email response from the IRS is too much. You can log in and check your File Status at any time of the day or night. The steps for checking the file status are in this article.

By: Erich J Ruthl Business > Small Businessl July 09, 2012 lViews: 212

Copy B of most of the 1098, 1099, 3921, 3922 Forms must be distributed to the recipient by the end of January (31st). Sometimes the due date falls on the 1st or 2nd of February, but the end of

By: Erich J Ruthl Business > Small Businessl July 09, 2012 lViews: 202