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Key Takeaways Leading with your personal planning will make you a stronger business owner.
For entrepreneurs who struggle with self-doubt, knowing your personal mission can build confidence in everyday business decisions.
Personal planning can increase the value of your business.
My first business — before I owned the Exit Planning Institute® (EPI) — was a landscaping and snow removal business. It was the kind of work where, if you were willing to grind, there was the potential for success. Revenue, sales, hiring/firing, even jumping in a plow myself — my name was on the side of the truck, so it felt like the business deserved my 24/7/365 focus.
Not surprisingly, that eventually led to burnout.
When I went to sell my business, I realized I had created a business that became my personal purpose, rather than a vehicle for it. Instead of relying on my business to bring me fulfillment, freedom and financial gain, it simply brought me cash flow.
When potential buyers looked at my business, they didn’t see a path to a better life. They saw a job. And no buyer wants to buy a job.
This time around, I’m doing things better and smarter, building a more significant company as a result. What changed? I started with myself: reflecting on my personal purpose and how to leverage it for professional impact. My personal purpose is to create unique experiences for the people around me. Understanding that has reinvented not only my personal life, but also my professional life. Now, I live my personal purpose by focusing on my company’s culture, creating a business where people want to stay and thrive.
Entrepreneurs should prioritize a personal plan for three key reasons:
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