December 18, 2019
30 episodes. Thousands of unique downloads. Dozens of interesting guests. Listeners in upwards of 30 different countries. It’s been an amazing first year for Distribution Talk. I’m genuinely grateful for your support and your continued interest. Thank you!
As for this installment, I’ve opted to go solo with a question: do you own a business or a job?
As the year, the decade, draws to a close, there’s no better time to see how you score. So, what’s the difference between the two?
A job requires you to be there (physically as well as mentally) in order for the operation to run smoothly -- or at all. You’re the engine that drives every aspect of the day-to-day, from sales to administration. If you were to take a few weeks off to travel the world, your company would flounder or worse.
A business, on the other hand, is set up to run efficiently and effectively should you step away for a month on a well-earned sabbatical. If the latter sounds impossible, hear me out. Not only does adopting a business mindset allow you to enjoy what you’ve built but doing so also prepares your company for a profitable sale (if or when that time comes).
Distribution Talk is produced by The Distribution Team, a consulting services firm dedicated to helping wholesale distribution clients remove barriers to profitability, generate wealth and achieve personal goals.
This episode was edited & mixed by The Creative Impostor Studios.
Experience has shown me that the litmus test for business vs job holds true whether we’re talking about small family companies or organizations operating in the millions of dollars range.
And the essential element for both is the same: build a great team.
If there’s one piece of advice I’ve heard over and over again from DT guests it’s surround yourself with knowledgeable people. Ask yourself if you’re merely filling a vacancy or recruiting talent for your company’s future. Recruiting talent is an ongoing process, one that’s conducted even when there’s no position to fill...yet. If you’ve recruited the talent but still find yourself with a job, ask yourself if you’re training them with an eye toward the future or directing them into stagnation and complacency.
Critically assess your style. Path-centric micromanaging exhausts your attention and is a poor use of employee resources. Adopting a more goal-focused approach and ceding absolute control allows your team to grow in confidence and skill, ultimately creating the sustainability that supports time away and attracts interested buyers.
So how and where do you start? If you’ve listened for a while, you’ve come to rely on this podcast as a genuine resource for practical ideas; 30 episodes worth of conversations with thought leaders, consultants, and distribution business owners just like you.
If you need guidance, I hope you consider reaching out to me. Assisting distribution clients get there is both my profession and my passion.
Here’s to a bright, self-sustainable 2020! Have a wonderful holiday.