The One Number You Need to be Free as a Business Owner
Why did you start or acquire your company?
When you peel back the layers to understand what drives successful entrepreneurs, a common theme emerges. Many value personal freedom over conforming to someone else's rules. But they may not know one number they need to be free as a business owner.
How do you attain this feeling of true freedom?
It comes from having enough wealth set aside that your work becomes a choice, not an obligation. Almost half of owners in a recent survey agree.
47% of owners define wealthy as "someone with the ability to do whatever they want, whenever they want.”
What's the fastest way to achieve wealth?
Focus on your largest asset: Your company and its value.
I want to share an eBook on this topic called The Owner's Metric: The One Number You Need to be Truly Free. It's a quick read and will give you what you need to know about what it means to build the kind of business value that allows you to work on your own terms and exit when it makes the most sense for you and you finances.
Check out page 16, where you'll learn about 8 Key Drivers of Company Value—the elements that make up the value of your company. In future blogs, we'll dive into each of the drivers in more depth.
There's no time like the present to focus on your company's value. Even if you aren't ready to sell in the near term, it can inform how you run your business today and help focus on what will grow the value to something worth selling in the future.
Julie Edge, Ph.D., is chief strategist and founder of Inside Edge Solutions LLC, a boutique strategy coaching and consulting firm serving business owners seeking less chaos and complication in their business and more thriving in their life—both personally and professionally. Connect with Julie on LinkedIn at @drjulieedge