Leah Oliver CA
CEO & Founder
Minnik Integrated Financial Solutions
Are you one of those “business owners” who feels they have to control everything even though you have hired capable resources to manage these things?
If you answered “Yes” to the above question, then you are not alone. The business owner who is not able to release themselves from the business, this baby that they have built up over the years, and “get off the tools” – is a very common scenario. A scenario which holds the business in a position of stagnation for a prolonged period of time, until recognised and rectified.
The reality is, one person cannot succeed all alone. And succeed faster they will with an excellent support team. The trick is being able to trust your support team to take the reins. True leadership is about inspiring your team to achieve great things. It has never been about “doing their job for them”!
No one likes to be micro-managed, and if you feel you have to do this in your business, then you need to change your hiring style. Your team performs at its best when individuals alone and together feel a sense of fun, happiness, and freedom at work.
Many business owners struggle to effectively delegate. They own the business, quite literally, to the point that they can’t “think” freely about anything else!
It is at this point that you need to “FIRE YOURSELF”. And when you take this momentous leap of faith, the world around you starts to change for the better.
There are some stages to the process if you want to get this right:
1. Do your homework and design highly effective and efficient systems, fully documented. So the business and your team don’t rely on the knowledge in your head to understand how you have designed it to operate.
2. Choose the best of the best people to work with. This may not mean skills but more so dedication, drive, honesty, and a positive attitude and the will to learn. With trustworthy, hardworking, enthusiastic resources, your business can move mountains with you at the helm. Once you have your resources in place, put your faith in them to carry out their responsibilities. TRUST THEM to do their job and do it well.
3. Next? You need to LET GO.
Of course, you don’t step away entirely. The process takes time. Buffing up systems, training staff, and nurturing clients along the way. But everything you do, ask yourself – can this be delegated? If yes, delegate. If no, hire or outsource until it can.
When you remove yourself from the day to day running of the business, here is what starts to happen:
* You have more time to formulate and apply efficiency and growth strategies to your business
* You start to treat yourself separately to the business. In doing so you learn to lead your crew – providing inspiration, encouragement and guidance – ultimately empowering them to “run the ship” when you’re not around
* You will understand your business for the thriving enterprise that it is and recognise the value in owning a “saleable asset”
* Your business will start to rely on you less – a business that doesn’t rely on its owner it is worth much more to a potential buyer
Contact Leah Oliver at Minnik Integrated Financial Solutions www.minnik.com.au
to learn how to transform your venture into a self-sufficient and saleable asset.