Letting Go to Grow: A Strategy for Success
One the most difficult challenges when you’re growing your business is morphing from a fledgling start-up to a more established, mature organization. Many entrepreneurs who want to grow their firms stumble because they can't adjust their business operations appropriately.
I think it’s a lot like going through puberty. It can be awkward, confusing, and frustrating, but it's all part of growing up.
Letting Go to Grow
If you’re like most business owners, you feel as though no one in your organization can do a job as well as you can. I admit I have a tendency to think that way myself. As my company grew, it was difficult to step aside and let others run with a project.
But if you micromanage, you get bogged down in too much minutia to execute the strategic vision you have for your business. Instead of a leader, you’re more like a hamster on a wheel -- running, running, running, and getting nowhere.
Your time gets eaten away. The business is driving you, instead of you driving your business. To get to the next level you must let go to grow.
The ability to delegate responsibility is one of the most important skills you need to succeed as a business owner. You don’t have to do everything yourself. Keep in mind, if the business is all about you then it never really becomes a business -- it’s a job. A business is something that becomes bigger than you and is sustainable without your daily involvement.
To build a solid business, you need a crackerjack team of individuals, and you need to get out of their way so they can do their thing.
Knowing When to Delegate
It's equally important to be able to wisely choose which responsibilities to delegate. Take a look at your current work flow and decide which responsibilities to give and which to retain. Sometimes an outside consultant or executive coach can help you make your selections, because they can see things more objectively.
Personally, I believe in giving people the opportunity to fail. That may sound odd, but think of it this way: If someone can't fail, then can they really succeed?
When someone understands the impact of their decisions and actions, they take them more seriously. I hate hearing employees shrug their shoulders and say, "It's not my job." Well, make it their job and allow them to rise to the occasion.
The bottom line: Spend your time and energy on things that will drive your company forward. Use your time wisely and stay focused on your vision. Let go to grow.
