Building a Business You Can Step Away From: Mark Hartmann on the One Starfish Podcast
I recently joined Angela Bradford on the One Starfish podcast to discuss the demands of entrepreneurship, learning to let others lead, and preparing for an eventual exit.
A growing company can provide a good income while leaving its owner little time to enjoy it. Building more freedom into the business starts with reconsidering how much of its daily work needs to run through you.
I recently joined Angela Bradford on the One Starfish podcast to discuss the demands of entrepreneurship, learning to let others lead, and preparing for an eventual exit. Having built and sold my own company, I know how hard it can be to change the habits that made the business successful.
Watch or Listen to the Conversation
Being Available Can Become Being Essential
In a single year, I spent almost 200 nights in Marriott hotels while traveling for business. I met clients and prospects during the day, then completed the work at night.
That level of involvement can become difficult to change. Customers expect to reach you. Employees bring questions to you. Eventually, even an afternoon away means taking calls.
I experienced that on a golf course with a friend whose much larger company operated without interrupting him. Mine couldn’t. He pointed out that I had set it up that way.
For an owner, those interruptions consume time. For a prospective buyer, they raise a question: how much of the company’s performance depends on someone who intends to leave?
Give People the Responsibility You Hired Them to Take
Hiring capable employees won’t free your time if they still need your approval for every meaningful decision.
One of the hardest lessons I learned was to hire people better than me in parts of the business and give them room to lead. That requires accepting that someone may approach the work differently while still doing it well.
As the company grows, your role deserves a deliberate choice. You might want to focus on sales, technical work, or executive leadership. Trying to own all of them can limit both your team and your ability to step away.
Decide What You Want Ownership to Look Like
Some owners want to build a large organization. Others love practicing their craft or value the independence of working for themselves.
There isn’t one right answer. In my conversation with Angela, I emphasized the importance of knowing why you chose your path and recognizing that you can change it.
The schedule you accepted while getting started may no longer suit the life you want. Consider what you would like a normal working week to look like now, rather than assuming the early years must set the pattern until retirement.
Preparing for an eventual exit makes that question practical. It encourages you to plan for the future while you still have time to make changes.
You only sell your business once. Make it count.
If you’re thinking about your next chapter, contact HartmannRhodes for a confidential conversation about your business and your plans.
Common Questions About Stepping Back From Your Business:Can I reduce my daily involvement without retiring? Yes. Stepping back can mean concentrating on the work you want to do while others take responsibility for the remaining functions. Selling or retiring doesn’t have to be the immediate goal. How can I tell where the business relies too heavily on me? I use the “Kidnap Test” from Sweat Equity Payday. Imagine being unavailable without phone or internet access. What stops working after a week, a month, or longer? Those answers reveal where your absence would create problems. Why is delegating difficult even with good employees? You may be accustomed to making the decisions and confident that your approach works. Giving someone else responsibility means letting them use their judgment instead of requiring them to follow your lead at every step. How does my daily involvement affect a future sale? A buyer needs to understand how your responsibilities will transfer. If you personally drive sales and operations, the buyer must decide who will fill those roles after you leave. When should I start discussing an eventual exit? I encourage owners considering a sale in roughly three years to begin the conversation now. Identifying dependencies early gives you time to address them before a buyer starts asking questions. Who should help me prepare for a sale? I recommend an M&A advisor or business broker, a transaction-experienced attorney, an accountant, and a wealth manager. They bring different perspectives to the transaction and to what the outcome will mean for your next chapter. |
Mark Hartmann is a former business owner turned M&A advisor—and the author of Sweat Equity Payday—who knows firsthand what it takes to build, grow, and sell a successful company. A three-time Inc. 5000 CEO honoree, he led his own eight-figure sale and now helps business owners sell companies worth $1M to $25M. Mark understands that selling a business is personal, not just financial. That’s why he works closely with owners to maximize value, protect their legacy, and transition on their terms.
He holds an MBA from Eastern University and a master's degree in organizational change management from St. Elizabeth University, as well as Certified M&A Professional (CM&AP), Certified Business Intermediary (CBI), Certified Exit Planning Advisor (CEPA), and Certified Value Builder (CVB) credentials.
44 Washington Street, Unit #1080
Morristown, NJ 07960
(855) 652-7577
HartmannRhodes advises owners of companies typically valued between $1–$25 million. If you’d like a structured pre-sale valuation review and a readiness roadmap, we can walk you through the process and tailor it to your timeline and goals. Contact us today!
Blog: Building a Business You Can Step Away From: Mark Hartmann on the One Starfish Podcast