Most of us dream of building our business from scratch. We want to eliminate the redundant 9 to 5 routine and be our boss. We want flexibility and more time for our family and personal growth.
Pete Mohr joins Matt DiFrancesco in the Your Business, Your Life podcast. Pete is a Certified Business Coach, Entrepreneurial Speaker, and host of the Simplifying Entrepreneurship podcast. They discuss why it’s crucial to keep an eye on your vision which is the primary job of the business owner.
Markets are volatile, and the media exaggerates the risks and rewards. But, with the assistance of an expert adviser, you can cut through the hype and steer your business in the right direction. Schedule a free 20-minute conversation with Matt DiFrancesco to discuss your current situation and multi-generational plan for your automotive industry.
About Our Guest
As a lifelong entrepreneur, Pete Mohr has owned and operated service, trade, and retail businesses. He has also used franchise and independent businesses and understands both systems. While owning multiple businesses, Pete enjoys a good life and has excellent relationships with his family and friends.
He believes that entrepreneurs can set up their businesses in a way that will allow them to achieve their goals. For Pete, entrepreneurism is his life, and he loves talking about it through coaching and podcasts. He considers this a big part of his actions and who he is.
Narrow Down Your Role
Business owners should live the life that they want. Instead of spending the majority of time working in their business, they need to be on working on the business. It would be best if you learned how to chunk out strategic times that can be well-spent on operations or decisions that will have a significant impact.
Every business has landmines. How do you structure around them so they don’t blow as heavily as they could? This is something every leader should be mindful of. For instance, in an auto body shop, we forget our long-term vision. Due to this, we ignore or sometimes cannot see them because we are so invested in our daily activities.
So, to work on the business and turn it into a multi-generational legacy, you must be aware of your role and identity. You can quickly analyze the situation by understanding that you are the one who owns the business or is the business owning you.
Turn Your Frustrations Into Freedom
We often get into business with the idea that we will have a better life if we own the business. And what happens is that a lot of people lose track. They lose track of why they want to become an entrepreneur. That’s because they get mired down in the frustrations and the overwhelm.
Suddenly all these problems become bigger and bigger. This is not freedom! The core of the problem is that most entrepreneurs don’t relinquish control. They need somebody to give them power or guide them through the process.
Moreover, you can bring synergy between different departments or operations. When you streamline your processes, you can have some control over the business. Ultimately, this gives you the freedom that you desire.
Revisit Your Big Goal
Look at the bigger picture. Take some time off. Always schedule renewal time. This is when you can revisit your plans and think about where you are heading and where you should be.
It doesn’t necessarily mean that you wait till a proper vacation. Just get out of your typical environment and routine. Surround yourself with positive energy. Then, ponder on the situation that you are in. Keep your long-term goal in front of yourself. Start analyzing whether you have the right plans, such as transition, succession, retirement, and most importantly, financial plans. Then comes the team and processes.
If you require more information on renewal time, read our blog post.
Contact HighLift Financial Today!
There are a few different ways that a business can provide flexibility and freedom to the business owner. First, it allows them to work remotely and have all the time for their family and other life goals. In other words, it gives the business owner a lot of leeway in how they run their business, such as setting their hours or working from a home office.
Though personal business such as an auto body shop or a repair shop is attractive in many ways, it brings its own challenges. If you are planning to start a business or have one and are looking for ways to expand it, you can schedule a free 20-minute conversation with Matt DiFrancesco.
In addition, you can check out the services that HighLift Financial provides. Since a business has vast operations, an owner can need assistance in different areas. Check out our blog posts or the podcast, “Your Business, Your Life,” to know more about them.
Disclaimer
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.