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I've been as guilty as anyone about using the term "Self-Managing Business".
There's no such thing - a business cannot run itself - so we need to get out terminology correct:
Owner-Managed Business;
Manager-Managed Business.
They are your choices.
If you go sailing for three months and return to a Manager-Managed Business, my expectation is that the Manager(s) will welcome you back and explain that everything has just been ticking along while you were away, and the problems caused by people (clinicians, team and patients) have all been sorted.
"There were 100 decisions to make, we made 94 of them and don't need to tell you, we made 5 decisions that we should tell you about - and we have 1 decision that we need you to make, because it's your business."
Imagine that?
The Manager-Managed Business has become a reality for a very small number of clients I have worked with over the last 31 years, but as has been mentioned in recent despatches, with the slow-down in corporate acquisitions, it is becoming the "Golden Goose" option that clients are now asking about more often.
The beauty of a Manager-Managed Business is that, whilst you own it, your stress levels reduce massively and, when the market cycle has turned and practices are being sold again, it will just be that much easier for you to sell and walk away.
You cannot abandon ship - but you can train a good crew.
Want a Manager-Managed Business?
It will be a focus of The Extreme Business 100 in 2025.
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