Entrepreneurs launch companies not only to create greater wealth, freedom and happiness, but also exert more control over their destinies. They dream of achieving professional, financial and personal independence and in doing so travel, relax, give back and enjoy their lives as much as possible.
For many business owners, however, the dream remains just that because they lack the mindset, people and processes to make it a reality. Key factors make it difficult for a business to run effectively without the constant, hands-on presence of the owner. Understanding these circumstances and making the necessary adjustments will position you to achieve your dreams.
The owner micro manages and fears giving up control. If you believe no one can run your business the way you do, you’re right. You’re unique, and so is your overall perspective of your business. But that doesn’t preclude the possibility there are individuals who could do an excellent, if not better, job than you. Relinquishing control appropriately can be learned and is made easier once trust, competent team members and effective delegation are in place.
The owner is the only team member who can handle all aspects of the business. If you’ve created a situation in which you’re the only one who can effectively run your business, you’re tied by necessity to the daily operations. Your success here lies in hiring individuals with positive attitudes, who care and are competent. Then provide them with high-quality professional development so they can excel.
Managers aren’t competent enough to run the business. A powerful component of delegation is that it allows the business owner to discover who’s capable of taking on the job and who isn’t. If you already have a manager or managers in place and through planned and effective delegation and careful observation discover they’re not capable of running the day-to-day operations effectively, you have two choices: develop them or replace them.
The owner hasn’t built a team to effectively run the business in his or her absence. The fear associated with releasing day-to-day operations can be overcome by building a team that can actually run the business — and run it well — without the owner’s constant presence. When the success of your business depends solely upon you, you trap yourself into a “job.” Conversely, when you build a competent team and spread out through a team approach the responsibility for the success of the business, everyone benefits, including the owner.
The owner hasn’t mastered the art of delegation or fails to understand the value of empowering the team. Learning to delegate tasks and projects to your team members is liberating for you and empowering to them. There are crucial components to effective delegation at which one must become proficient, though. Every business owner I coach is amazed at the freedom they gain, the ownership their team members take on and how much smoother the business runs once strategic delegation is implemented.
The business lacks structure, processes and a system of practical procedures. To achieve your goals and create the freedom you desire, it’s imperative to put into place a system of simple and effective processes and operational procedures to deal with the situations that will inevitably arise. The greater success of your company depends on it. Business owners are often surprised and always delighted to discover how easy these are to create as well as how appreciated and liberating they are to everyone involved.
While there’s a lot to consider in developing successful hands-off leadership, qualified business coaching and training can put the thriving business of your dreams within your reach. As you adopt a more powerful mindset, hire potential leaders, offer quality professional development to team members willing to excel and let go of those who aren’t, your dreams of greater freedom, happiness and success will come true.
Countless businesses thrive under the day-to-day leadership of their managers while the owners provide general oversight, direction and new ideas. This can be your reality, too, as you release your fears and assemble a powerful team that can handle daily operations.