• Sun. Oct 1st, 2023

    The Art of Downsizing: Finding Peace in Your Business

    ByJames Forsyth

    Sep 19, 2023
    The Art of Downsizing: Finding Peace in Your Business

    Summary: Many entrepreneurs find themselves with a bloated team and a business that no longer brings them joy. Instead of focusing on reducing the number of employees, it is essential to take a step back and reassess the true nature of your business. Are you in the business of curated creation or pure production? Once you determine this, you can start aligning your team with your vision and values. Identify the qualities that matter most to you and see if your current employees embody them. Encourage them to share their vision for how they want to contribute to the firm’s overarching quality. Those who do not align with your vision may need to be let go. Ultimately, finding peace in your business requires embracing your own uniqueness and being unreasonable in your pursuit of your artistic vision.

    In the chaotic Covid era, it’s easy to succumb to the pressure of growing your team to manage the influx of work. However, this can lead to a business that you no longer enjoy, with too many employees to effectively manage and a constant stream of meetings that eat up your time. To find peace and restore joy in your firm, it’s important to take a different approach.

    Rather than focusing solely on downsizing, you need to redefine your business and determine whether you are in the business of curated creation or pure production. If you have been hiring to manage the flow of work without considering the alignment with your artistic vision, you have essentially turned your business into a factory.

    Appreciating the talents of your team members is not enough. You must ask yourself if they truly do the work that you care about, embody the culture you desire, effectively communicate with clients, and treat you like a client. It’s crucial to create a team that shares your vision and values.

    To achieve this, engage in an exercise where you identify the most important quality that you embody. Ask your team members who resonate with that quality to express their vision for how they can bring that quality to life in your firm. This can be done through writing, recording, filming, or drawing.

    For those team members who do not wish to align with the desired quality, consult with your accountant and financial advisors to determine the best course of action for severance. Let go of the work that does not shine given the chosen quality.

    While traditional business structures may suggest volume and staffing solutions or hiring a COO to manage the meetings and tasks, it is important to consider whether you want someone who may not fully understand or embrace your artistic vision to be in charge.

    Embrace your uniqueness and incorporate it into your business. Be unreasonable in pursuing your artistic vision. By doing so, you will find the peace and fulfillment you seek.

    Source: Sean Low, The Business of Being Creative