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

carmcapriotto · December 15, 2023

Maryann 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. Maryann, Small Biz Vantage. Maryann’s previous episodes HERE.

Show Notes

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