When we start a business, we do so because we want freedom. Then we become slaves to that business, and unless we grow by using scale to grow our business, we are not going to enjoy the freedom we want.
Jim Mills, Financial Advisor with Merit Planning Hills, discusses this dilemma that faces most business owners.
If you don't scale, if you don't build your resources and your processes around bringing in good people, then you end up with much more stress. We don't think that anyone will ever be as good as ourselves, but when we accept that and get over it and start building our businesses with the appropriate systems and processes in place, that's freedom.
If a business owner or founder is the only revenue raiser, when they do come to a point of selling, there is nothing to sell. This is because when you take them out of the business there is nothing left. That's a situation you want to avoid. And that's why you have to have a plan and you have to scale your business.
Jim Mills is the Principle Advisor and Managing Director of Merit Planning Hills Pty Ltd, established in 2008. The Merit Planning team are financial strategy and wealth advisors, with a focus on working with small to medium business owners. They are passionate about ensuring Australian business owners see the benefit of their hard work in the form of significant personal wealth accumulation. In this ever changing economic and legislative landscape it is important to have a partner with a focus on active strategies that align with your strategic goals - both from a business and personal perspective.
Jim is well known across the financial service industry with over 25 years experience, previously holding executive positions in large financial institutions. He is backed by a team of qualified advisors and outstanding service personnel focused on seeing Australian businesses thrive.
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