Are you finding it difficult to manage your business as its growing. Not having enough time, working extra hours to manage the growth?
As business’s grow, owners find themselves still wanting to do and be involved in everything to do with the business. Most of the processes and rules etc aren’t written down but in the owners’ head. Now that may fine while there are only a handful of staff. Being in control is what got you to this point so far.
As businesses grow more and more staff are there, more business decisions need to be made on a daily base and as the business owner – you become the bottleneck and probably begin to inhibit growth. The need to be involved in everything and having the final say may also turn staff off.
Steve Jobs, founder of Apple famously said:
“It doesn’t make sense to hire smart people and then tell them what to do. We hire smart people so they can tell us what to do”.
So, what are 4 things that allows you to delegate your decisions:
- Ensure you have policies and procedures documented. That way staff know what and how things are done.
- Have a Levels of Authority Matrix – which shows who can do things such as hire staff, spend company money, said marketing material out etc
- Move away from needing to know everything that goes on. Its amazing how much time it will free up.
- Lastly, develop an environment that if they make a mistake – they know that the boss will work with them to learn from it and others will see it as a learning experience.
Remember, you have others outside of the business that may want to spend time with you. Don’t let a growing successful business take you away from your family and friends.
If you need some assistance with your Growth don’t hesitate to give me a call or drop an email.
First published on LinkedIn (opens in a new window)
