A friend of mine founded an online entertainment marketing agency that helps growing companies attract great customers.
For the last ten years, his business has grown to become a leading Premier Google Partner agency. And was ranked high as the fastest-growing company in British Columbia.
Eventually, he decided to remove himself from the office and become a remote business owner. He moved from the Squamish, British Columbia, to Vancouver Island, and two years later to Costa Rica.
While not a traditional move for most business owners, there was a method to the madness.
Becoming a remote business owner, and focusing on lifestyle is important because it enables leaders to stay hungry and motivated. Business owner burnout is one of the biggest reasons companies become stale, lose momentum, and eventually die.
Here are our top tips for becoming a successful remote business owner:
Build a loyal and trusted team that understands the business goals and company ethos.
Give them the power to make smart decisions, but also give them the comfort that you are there for them.
Reward the team when things go well, and support the team when things go south.
I don t recommend packing your bags and leaving on a six-month off-the-grid trip right off the bat. Start small, and implement things that need to happen when you are not there. A good example would be to start by not working weekends. Then take a Monday to Friday vacation — turn your cell off, and do not check your e-mails. Upon return, write a list of things that went wrong, needed your input or simply stalled until you returned. This is your action list to work through by eliminating these tasks or delegating them to your team. Give it a few weeks, and do it again.
Keep taking short breaks until you get to the point that upon your return there is no action list. Cutting ties with day-to-day operations is the biggest win for any business owner wanting freedom, as well as financial growth.
Just because there is a geographical distance between you and your team, it doesn't mean you should go completely off the grid. With communication tools like Slack, Whatsapp, Google Meet, email, and phone shocker, it is possible to be available when your senior team needs you. Remote contractors found that once they were out of the office, and away from the office distractions, they were more available when my team needed them.
Pay Attention To The Numbers:
Set up key performance indicators on everything: sales, client's success, client retention, leads, cash flow, balance sheets. Aim on getting to the point that you can read your company by the numbers. This gives you direct insight into every element of the business.
Most importantly, we support all remote workers with flexible hours, so they can find the balance of a healthy lifestyle and work. We encourage others to do the same.