Stop Thinking of the Business as You: Think of it as a Separate Entity [RR 910]

[carmcapriotto]

Maryann Croce discusses the importance of separating personal identity from business identity. Maryann, a coach and shop owner, emphasizes the need to recognize and embrace different roles in life, such as being a leader, family member, or partner. She suggests that separating these identities can lead to growth, team collaboration, and the ability to assess the business objectively. Viewing the business as a separate entity can lead to better delegation, clearer focus, and improved work-life balance. Maryann, Small Biz Vantage. Maryann’s previous episodes HERE.

Show Notes

• Separating Your Identity (00:02:59) Discussion on the importance of separating one's identity and roles in different aspects of life, such as being a business owner, family member, and leader.
• Shifting Roles and Uniforms (00:04:17) Exploration of how changing clothes and uniforms can help shift one's mindset and separate different roles, using examples like first responders and military personnel.
• Advantages of Separating Business and Personal Identity (00:08:41) Explanation of the benefits of viewing the business as a separate entity from oneself, including the ability to receive constructive feedback, assess business growth objectively, and avoid taking negative reviews personally.
• The importance of separating identity from business (00:10:43) Discussion on how separating one's identity from their business can lead to reduced stress and increased clarity.
• Using role shifting to manage different aspects of the business (00:12:57) Exploration of how shifting roles can help business owners focus on different areas, such as marketing and financials, and achieve a separate entity mindset.
• Understanding Your Financials (00:22:05) The importance of owners understanding their business's financials and knowing where to focus on improvements.
• Building Relationships (00:23:25) The significance of owners building and nurturing relationships with their team, vendors, suppliers, and associations.
• Separating Yourself from the Business (00:24:23) The benefits of viewing the business as a separate entity, allowing owners to delegate tasks, step away for extended periods, and make the business sellable.
• The importance of separating business from personal identity (00:31:15) Discusses a story of a business owner who almost lost his business due to a car accident and emphasizes the need to separate one's identity from their business.
• Stop thinking of the business as you (00:32:01) Highlights the importance of delegating tasks and responsibilities, having job descriptions, processes, and systems in place, and working with a team instead of trying to do everything alone.
• The impact of not separating business from personal life (00:34:13) Talks about the consequences of not separating business and personal life, such as feeling burdened, missing out on important moments, and the need to prioritize different roles in life.

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