Get Out Of Your Own Way
Taking Your Business To The Next Level
How many household names started out as a simple idea just a few years ago? Facebook, Apple, Microsoft, and Google are just a few recent examples. However, big Ideas alone aren’t enough, some capital investment (be it money or time), along with a lot of blood sweat and tears are often required. Without big thinkers, America wouldn’t be the economic super power it is today, most of those entrepreneurs would have failed without the ability to see that idea through.
Since our nations beginning, big thinkers have changed the economic landscape- from land owners who traded goods for money to Henry Ford to current technology leaders- someone had an idea and ran with it. They created a successful venture that impacts every aspect of our lives. However, for every successful idea or product that makes it to the market, there are so many others that fail.
The question is why?Perhaps it’s the market- maybe the idea took too long to develop and the demand for the product or service has waned. Maybe it’s marketing, not having the resources to spread the word. However, maybe the real reason is the leader…
All too often, ideas die before they ever get off the ground, it was a great idea but they didn’t have the ability or resources to carry it out. Success isn’t something that happens in your head alone, it comes from taking ideas and creating clear deliverables that become a sellable product. It is very rare that the idea and the implementation of that idea are done by one person alone.
This is where entrepreneurs can benefit from hiring someone who specializes in developing systems and processes that will support the idea and create deliverables that transform an idea into a product. This person or team of people will often hold VP titles or if the owner is brave, maybe even a C-position- CEO, CFO or COO. These are the people who will keep the company running. A new business may not have the resources to hire someone for these positions right away, but to be truly successful someone must drive the train while the leader determines exactly where they are going.
On the other end of the spectrum, you have visionaries who create a company from an idea to a successful product. Over time, they build their company to a point where they have dozens of employees and a pipeline of customers. This is where it really becomes difficult! You are now in a position where you can’t do it all, you must rely on the people you have hired. This the point where great companies transition, creating a clear organizational structure with defined roles and responsibilities. Those that don’t become stagnant, they have maxed out the founder’s ability to continue company growth.
Many leaders get stuck in the weeds while starting a companyAll too often company founders become so used to this that they are unable to continue growing with the company they have created. They become so overwhelmed that they can no longer lead, or even define the company vision. This is the trap, the rut, they feel stuck and can’t develop new products or ideas because they are too busy doing the things they don’t like to do and frankly, are usually not very good at. This leads to visible frustration that propagates throughout the company and lowers moral, as moral goes down, so does productivity. This creates a circular death spiral, more people are required to match required productivity, increasing payroll costs just to maintain current revenue. If this trend continues, revenue reaches a point that is equal to or lower than your cost of doing business, and your company folds.
How often have you heard that a good leader will get their hands dirty? If they have to sweep the floors, they get in there and do it. We strongly believe that, but there is more to it. If you, as a leader, are monitoring support requests throughout the day, every day, what message are you sending to those you hired for that task? You are telling them that you don’t trust them, that they aren’t good enough. You are also sending a clear message to the rest of your organization, that they don’t have to work hard- you will pick up the slack for them. They don’t have to put in the effort they always have, because the low performer isn’t held accountable.
Most of your team wants to help make your company successfulIf you did your due diligence while hiring, your employees are smarter than you in their specific role within the company. Trust your team, then hold them accountable for reaching the goals that you set. Mentor them, guide them, and then get rid of them as a last resort. Be willing to delegate and trust that your people will execute. Trust, but verify.
So, get out of your own way! Lead your company and hire the right people to help you get to the top…
At W3Effect, we have business consulting services that can help you get to where you want to be, no matter what part of the business lifecycle you are in. Whether it’s a software system that helps you see where you are in real time, or help figuring out how to structure your business to get the most from your employees, we are a tech services firm who also specializes in analyzing business practices to improve efficiency and build productivity and success in your business. Our leaders have 20+ years of experience in operational management. Give us a call today to find out how we can help you!