This past weekend, my son’s soccer coach passed away to a heart attack at only 55 years old.
It was a sad day for me and all the other parents along with the entire soccer team. He leaves behind a 14 year old son and a wife.
I vividly remember meeting with him and his wife just ten days back at their place.
It was his son’s birthday and they had invited my son and a few friends to come over for the day.
While dropping off my son, he insisted my wife and I meet him and his wife for coffee and snacks.
We sat together and he excitedly shared with us stories from his recent trip from China.
No one could have imagined this healthy looking person would have an uninvited guest called “death” awaiting him so soon and so unexpectedly.
In addition to his family, he also leaves behind a 15 year Sportswear manufacturing and distributing business.
From talking to his brother, HE was the business.
No systems in place. Not a sellable business.
Many practitioners I talk to are in a similar situation. THEY are the business.
They exit out and the practice fades away in thin air.
Their practice is not an asset of any real value.
They in essence have a job and not a good one because they work an insane number of hours and carry all the stress and responsibilities of a practice owner.
But sadly, there is NO business to write home about.
There are 3 ways to avoid this:
- Make it less dependent on you. A practice that is dependent on you is on weak ground. Get out of the day-to-day doing and running of your practice.
- Systems. Create a “how we do it here” operations manual.
- Learn to work “ON” your practice. Become very comfortable and adept at looking at your practice as a whole and scheduling time to work on the integral parts that makes a stronger whole.
If your practice is heavily dependent on you, you will want to attend my upcoming SuperConference in Dallas. And if you claim you don’t ‘have time’ to attend, then it’s even more vital to be there.
It takes place from June 3-5, 2016. Go here for more info: www.CPAliveEvent.com.