THINKING BUSINESS
a blog by Chris Barrow

Relentless

Running your own business. Relentless.

That’s why, when young dentists approach me at conferences and courses and ask “I’ve been thinking about opening/buying my own practice – what do you think?”

My answer is always – “don’t do it!”

Why?

Because those of us who do run our own businesses didn’t ask the question.

We had an internal burning desire to do it.

I recently checked how many hours a week I work (after 46 years at work) – the result was an average 65-hour week.

Here’s the tough truth – I have been consolidating and planning this year and if I divide my anticipated gross sales by the REAL hours I will work in the year – I reckon I’m generating about £102.00 per hour of revenue into the business.

That sounds terrible.

This is not a complaint – I love my work, I love the people I work with and I love the hours I do (and have plenty of time for my other stuff).

It simply indicates that if I add the hours I’m not with clients to the hours I am with clients, it has the effect of reducing my effective hourly rate by over 50%.

I wonder what your productivity would look like under that scrutiny?

My work is one of the primary ways in which I define myself.

If I won the lottery, I would maintain the hours and change the focus – that’s all.

I have no plans to ever stop working.

I’m immune to complaints from others about hours worked – we all ultimately have the choice.

I get frustrated listening to people tell me that they dislike the thing they do and/or the people they do it with.

Cue cliche – life is too short.

Am I going to double my prices?

Not a chance.

Am I going to reduce my hours?

Nope.

I’m going to accept the reality of running my own business.

Will I be financially successful at what I do?

Will you?

Toss a coin.

That’s how predictable financial success is.

Performance coaching in business is about increasing the odds of success but, more importantly, ensuring that the (relentless) journey is a pleasure.

Whatever the end result, the craic of ownership is priceless.

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