Are you the main entertainer or strategically steering your business?
Revenue multiple millions but still you make every decision, pull every string, remove every problem?
Are you feeling like chief puppeteer in a game of whack-a-mole? And some days this leaves you wondering if you may be the mole, whacked repeatedly?
The show is bigger, you want the team to handle it, but you land being the centre of attention, making most decisions, whacking issues.
Congratulations! You’ve reached a fantastic milestone – achieved product-market fit, a repeatable sales model, and business is flowing more naturally and profitably. You are growing!
Do you want major success? Expansion?
Then you need to be less trapped and exhausted by the demands of the business. Stop being a bottleneck. Enjoy the fruits of your labour.
If cracks are emerging – higher employee turnover, cash flow problems, maybe quality and customer dissatisfaction – you have the danger signals.
This business stage is frustrating and dangerous. The solution is a shift in mindset and skills.
You made it through start-up or a phase of business renewal. Now there is too much going on, one person cannot have personal knowledge of everything or make all good decisions.
The business needs systems, processes, and teams to handle the growing demands and expectations of this new stage.
The danger is, if you fail to adapt to the new needs and expectations of the market, customers, employees, and investors you will stifle success or even force the business into decline or liquidation.
When you successfully innovate:
- Delegate, create systems, and standardize the business operations well.
- Inject a new culture of innovation, experimentation, and collaboration that fits this stage.
- Perhaps also add capital, talent, or technology
The sky will be the limit.
Take a step back. Stop pulling strings for a moment. Consider this:
- Do you have good managers? Empower them – delegate appropriately and trust them.
- Have you got consistent processes for the core business tasks?Document them, train everyone, use them consistently
Can you limit your involvement to what is important for YOU to do?
Can you appreciate less frenzy and the success (financial and operational) that comes with consistent growth?
No more moles to whack:
- Problems won’t keep popping up because business activity follows a consistent process.
- You won’t have to pull all of the strings: managers will handle daily tasks, give you the highlights and tell you when needed.
- You can go on vacation, or focus on important customers, new products, business success in the area where your individual talents, or genius, lies.
Business will thrive. People will excel.
