PROFIT Magazine asked the CEOs of Canada’s fastest-growing business for their best advice; among several who warn about maintaining a stranglehold on control is this simple suggestion: “Delegate. Your job as a business owner is to grow it, not to run it.” One of the hardest aspects for SME owners is letting go of what they have worked so hard to create, but one of the first things we look at when working with a client is their overall management structure. And is it an obstacle in the way of their progress?
Owners of startups do have to be on top of every aspect of their business, but as the business grows, some forget to step back. It becomes clear in our initial talks with businesses if an owner is trying to do everything themselves. One person can’t do it all; initially, this level of control is important; but after the start-up and development stages, they are in a position where they will need help.
Henry Demone of Highliner Foods says,
“Everybody should have five or six people to talk to – people you really respect. It’s sometimes called the kitchen cabinet. You bounce things off them. If you talk to all five and they say quit worrying, you stop. Or if they say to put a plan in place, you do it.”
If clients do have a management structure in place, we look at how it is functioning:
- What results is your managerial structure producing?
- Is it producing these results consistently?
- What problems do you have?
- Do these problems recur consistently?
In answering these questions, we always focus on the client’s desired outcome. How do we do something right now to help that outcome be realized?
Implementing some of the ideas mentioned here can be challenging. If you would like to discuss them in the context of your own specific business please contact us. We’d be glad to help.