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

Published: Dec. 15, 2023, 5:15 a.m.

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\\n\\nMaryann 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.\\n\\nMaryann,\\xa0Small Biz Vantage. Maryann\\u2019s previous episodes\\xa0HERE.\\n\\n
\\nShow Notes\\n
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  • Separating Your Identity (00:02:59)\\xa0Discussion 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.
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  • Shifting Roles and Uniforms (00:04:17)\\xa0Exploration of how changing clothes and uniforms can help shift one\'s mindset and separate different roles, using examples like first responders and military personnel.
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  • Advantages of Separating Business and Personal Identity (00:08:41)\\xa0Explanation 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.
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  • The importance of separating identity from business (00:10:43)\\xa0Discussion on how separating one\'s identity from their business can lead to reduced stress and increased clarity.
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  • Using role shifting to manage different aspects of the business (00:12:57)\\xa0Exploration of how shifting roles can help business owners focus on different areas, such as marketing and financials, and achieve a separate entity mindset.
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  • Understanding Your Financials (00:22:05)\\xa0The importance of owners understanding their business\'s financials and knowing where to focus on improvements.
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  • Building Relationships (00:23:25)\\xa0The significance of owners building and nurturing relationships with their team, vendors, suppliers, and associations.
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  • Separating Yourself from the Business (00:24:23)\\xa0The benefits of viewing the business as a separate entity, allowing owners to delegate tasks, step away for extended periods, and make the business sellable.
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  • The importance of separating business from personal identity (00:31:15)\\xa0Discusses 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.
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  • Stop thinking of the business as you (00:32:01)\\xa0Highlights 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.
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  • The impact of not separating business from personal life (00:34:13)\\xa0Talks 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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