I refer to the owner as the ‘leader’.

The key objective of business leaders is to create an asset of value, which will sustain them while they are working in their businesses and beyond. Leaders, therefore, have the most profound effect on a business and, of course, the other touch-points as previously discussed.

Leaders, either as a sole person or in a partnership, stand to lose the most should the business fail, and they should stand to gain the most if it succeeds. Risk should be rewarded.

As a leader, the most important duty is to separate your personal goals from those of the business. An old, but important saying is, ‘work on the business’. That does not mean that owners must divorce themselves from working in the business. A business owner must be part of the leadership team to set clear goals for the business and initiate plans to achieve those goals. When working in the business, treat yourself as an employee and pay yourself your worth. More importantly, put systems in place to measure and achieve those goals so that the business is sustainable in the absence of you, the leader.

Quentin G McCullough