Imagine walking to your mailbox to find a wooden box waiting to be opened by the recipient. Once you get inside, you open the box to find a piece of string. You learn that a piece of string represents the exact length of your life. Not only that, but every person worldwide has received a box. The strings are of different lengths.

The premise above is from the 2022 book, The Measure, by Nikki Erlick. I have not read it, but nearly 43,000 readers have left reviews, a lofty total.

As I was skimming the Amazon sales page on this book and reading a handful of reader reviews, my mind shifted to a different premise. What if every business owner on the planet received a similar box, and the piece of string represented the business’s life? How would that alter the business owner’s decision-making?

Your Business Will Last 35 Years

Sally is a process-driven entrepreneur who has been brilliant at building a small management team to run her eCommerce business focused on soccer balls and related apparel. Her first two years were bumpy, but thanks to patient angel investment, she weathered the storm, and now her business predictably generates about $3 million in operating cash flow annually.

Earlier this morning, Sally opened her wooden box to find a piece of string. In time, she learned her business would last 35 years. She launched her enterprise eight years ago, so there are 27 years to go. Now what?

Let’s stop here because I want you to answer some questions:

What if your length of string was the same as Sally’s? What are you thinking and feeling?
Who will you tell? Your spouse? Kids? Friends? Staff?
Will you work harder? Smarter? What will you be doing in year number 34 of the business?

Gaining Perspective

I am not an overtly religious person. But I do know the writings in the New Testament. This length-of-life theme reminds me of two profound statements found in the New Testament:

For where your treasure is, there your heart will be also.
Matthew 6:21

For what shall it profit a man, if he shall gain the whole world, and lose his own soul?
Mark 8:36

If I’m Sally after opening a box, I’m probably heading to the nearest therapist that I can find. If I’m lucky, I will find the person who says, “Sally, it’s going to be okay.” And, “Your life is not your business; it’s merely a tool for your livelihood and those who work with you.”

After gaining these insights from the therapist, she further learns that she is not a slave to her business. The business is a slave to her and her team. Accordingly, the trauma of learning about her company’s longevity becomes less of a concern. Perspective is king.

Sorry for getting a bit philosophical, but job number one for me would be to get perspective first, and then start mapping a path with a clear head.

Yes, it’s a ludicrous story, but I still find the concept intriguing. Personally, the idea reminds me that business and profits should not be the center of my life. Besides, just because the business only lasts 35 years doesn’t mean:

I can start a new business, or
I move on to focus on charities or my own foundation (Clay Mathile is a great example).

Quality of Life vs. Quantity of Life

Sally’s string only addresses the length of time. Quality is never addressed. Sally’s unfinished story could be that she builds a brand that generates nearly $30 million in operating cash flow by year 34, only to be courted by a bigger business that wants to pay her seven times her operating cash flow.

If I’m Sally, with an already strong business model and a great team, I can focus all my energy on activities that will make the business even better. In short, I’m going to prioritize the majors, not the minors. There will also be no cutting corners. If a major investment is needed in year 33, I’m making it because I’m focused on quality of life, not quantity. If you disagree, that’s fine. That’s the purpose of this exercise: what would you do?

Let’s also assume Sally’s business is a family affair. A daughter and son work in the business, but neither wants to build their careers there. How would you address succession in a family business even when you know the business will end?

What about your staff? What’s your game plan when the business hits year 30? If you are focused on quality of life vs. quantity of life, does it make a difference?

Is This Really Such a Crazy Story After All?

I have read a statistic indicating that only 35% of businesses survive their 10-year anniversary. Such words of encouragement.

I don’t believe in a failure mindset, but I do agree in knowing and understanding all risks associated with any entrepreneurial activity. One of the first sections I read in any 10-K is the paragraphs on risk factors. Many strategies in larger organizations are designed to either avoid or mitigate these risks, which they believe are real and possible.

Sally’s business will only last 35 years. Is that a risk, or is this revelation a springboard to greater opportunities ahead? How would you respond?

I do have one more crazy question to ponder. Let’s assume Sally’s business is always struggling to meet payroll. She has difficulty keeping key managers. She spends more time at the office than at home, and she misses many school events her younger kids are involved in. Many days, Sally thinks about giving up. Yet, her string reveals there are 27 years to go.

If you are Sally’s mentor, what do you tell her?

A Final Homework Assignment

I’ve been a fan of Dan Sullivan for years. After hearing Gary Boomer talk about him during a 2003 Kansas City workshop, I read and listened to everything I could get my hands on until I attended Strategic Coach for three years (I highly recommend it).

After that workshop, I found a CD series called Pure Genius by Dan. I loved it so much that I had all of my kids go through the content. I gave copies to my clients. Several got copies for their kids.

That series has a dozen or more mental thinking tools that Dan created. One is called The Lifetime Extender™. When I think about Sally’s story and her string, I’m reminded of Dan’s lifetime mental construct. If you have time, get the series and then follow the extender exercise. I think it applies to the life of a business exercise.

Alternatively, here are two additional resources:

On the surface, Dan may appear to be focusing on the endpoint or quantity. Dan hits the ‘quality’ theme smartly and cleverly in this thinking tool. I see similarities between his concept and Sally’s new revelation about the longevity of her business.