Know when to take a step back...
As a small business owner, it’s easy to fall into the habit of trying to do everything yourself. As your business starts to grow, however, it’s important to know when to take a step back. For any business owner, taking the time to stand back and review your business, not only from a delegation perspective but also taking the time to review your finances, processes, procedures and your employees to make sure they are working as hard as you are is essential. Even if it’s for a day, an afternoon or even an hour.
Business owners who try to maintain control of the day to day running of their business as it grows, and struggle to take a step back will struggle. Fact. Unless they begin to delegate certain responsibilities and spend their time focussing on the long-term strategic thinking that is needed, their turnover will plateau and their business will cease to grow. It’s surprising how one person’s preference for control can half an entire business’ growth, but it does.
Finally, it’s worth remembering that all businesses face challenges at one time or another. Businesses will inevitably struggle with managing and influencing the people that they work with at some stage in their life cycle.
This where coaching, whether its regular or in a Mastermind or in a workshop can make the difference. What they do is help people understand themselves, their colleagues and their organisation better so they’re able to focus in and work on the areas that are currently blocking them from being the best version of themselves. And in turn, help them achieve the best version of their business.