Most entrepreneurs start their own businesses because they want freedom.
Freedom is typically defined as the power to determine our actions without restraints.
But let’s be honest with ourselves for a moment: While many of us have chosen this life of calling the shots, being our own boss, and owning the company, how many of you actually feel free?
In the legal profession alone, 50 percent of practicing attorneys are experiencing symptoms of depression and anxiety, while another 50 percent have screened positive for high risk drinking, and 20 percent are contemplating leaving the legal profession altogether due to mental health problems, burnout, or stress.
Is this the so-called freedom that you were after?
It certainly doesn’t feel free.
Why do we often feel like slaves to our businesses, rather than the free entrepreneurs we set out to be?
The reality of it comes down to how much our organizations depend on us — to grow, to run, to operate day to day.
The real value of your organization is inversely proportional to its dependency on you.
If you were to one day decide to sell your law firm, or you decide you want someone to invest in it, the number one indicator they’ll look at is how dependent the firm is on you.
What if something happened to you? What if you got hit by bus? What if something happened in your personal life preventing you from being at the office?
At the end of the day, if your firm is solely reliant on you, the owner, then it’s not a very valuable business — and you’re not really free.