Running your own business means that you have both a personal role as well as a professional role. Because you are vested in ensuring your company’s success, there’s the natural tendency to put yourself in the center of all the action. While it’s important that you’re involved and engaged, as the business grows, this can become overbearing.
At some point, whether it’s for your own need to live a more balanced life, or to ensure your business continues to grow, you’ll need to recognize that you, as an individual, cannot continue to micro-manage every task and decision. You need the business to run with others taking on agreed-upon tasks. This is often difficult for an owner to recognize and execute. In some cases, it’s understandable if you haven’t hired the right people and established the right expectations. However, I often deal with owners who have those people or could hire those people, yet they still find themselves working around the clock.
This is usually a sign that there’s something deeper happening – a sense that they’re not ready to let go. Most often this is because they feel a sense of accomplishment if they are the one that comes to the rescue and solves a problem or puts out a fire, despite the toll that it is taking on their personal life.
Handling the tactical side of the business is something they’ve always done; relinquishing control seems to be an admission that they’re less involved and productive. However, nothing could be more wrong.
You need to remember that as a true entrepreneur, you need to work on the strategic side of the business. You need to redirect your time and energies in a direction that will allow others to handle the tactical side as you focus on new and better ways to ensure your business grows.
I am not suggesting that you go cold turkey. Make it a gradual transition and as you do, you’re likely to find yourself enjoying some of your new responsibilities as you watch others succeed in helping you make your vision a reality.
Want to discuss practical ways to begin this process? Reach out!