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The Business Indulgence That Could Be Holding You Back

There’s a trap many business owners fall into — and it’s surprisingly seductive. It’s when you’re doing something that feels good but doesn’t actually add value. That, my friends, is an indulgence.

And indulgences, left unchecked, can quietly sabotage your long-term success.

This thought struck me while reading an article in the Australian Financial Review about how the English Premier League (EPL) is struggling to create financial value. Despite its global popularity, the business of football is notoriously hard to make profitable — and football club ownership often becomes the ultimate vanity project. We’ve seen similar patterns in Australia with entrepreneurs buying soccer or rugby league clubs, only to find them an expensive distraction.  Think Nathan Tinkler and the Newcastle Knights (NRL) and Newcastle Jets (A-League),

So how do you know if something in your business is an indulgence?

I use what I call the Benson Rule, named after my friend Adam Benson:

“If it feels good, but it’s not adding value — it’s an indulgence.”

In the SME world, indulgences come in many forms: luxury cars, boats, over-the-top marketing campaigns or race car sponsorships, or even hiring family members who aren’t up to the job. These things might stroke your ego or create the illusion of success, but they don’t build equity, improve operations, or drive growth.

There’s nothing wrong with enjoying the rewards of your hard work — but if your “treat” is consuming time, money, or focus without a return, it’s worth a second look.

Running a business demands ruthless clarity. So this week, ask yourself:

What am I doing that feels good… but doesn’t actually move the business forward?

That’s your indulgence. And it might be time to let it go.

That’s my hot take. Let me know what you think.