Control is often a good thing.

Someone who is in control of their life, financial affairs and emotions is admirable. Similarly, when driving a vehicle or operating heavy machinery, control is critically important.

However, it’s not a compliment to be described as controlling or a control freak. The need to be in control all the time is often detrimental to a person’s health, relationships and happiness.

Therein lies the problem with control.

Too much of a good thing can be hazardous.

For self-employed entrepreneurs, control is clearly important. They give up the ‘security’ of a job and take on the risk of business failure and financial loss for the opportunity to be their own boss, increase their earnings potential and build an asset of significant capital value.

Business owners also cite the freedom and flexibility to choose their hours and terms as a major attraction.

As a strategic capital partner to professional advisory firms, we regularly meet business owners who want to grow, corporatise their business and solve their succession issues.

They have done a fantastic job of establishing their business and getting it to a certain point but are struggling to take it to the next level. They recognise they need additional capital and expertise to achieve their goals, yet many baulk at introducing a strategic partner for fear of losing control.

They talk about the importance of controlling their own destiny and maintaining balance.