Many business owners are great at solving problems but don’t put enough trust in the team. In order to allow your company to grow to its full potential, managing people at work is essential. In this video, I go through a strategy that you can use in order to gauge your level of personal involvement in your business.
When first starting a company, there are a multitude of things that arise and need to be dealt with right away. However, it’s as the business grows that you need to learn how to step back a little bit. Too many people become addicted to the fast-paced problem solving environment and remain there instead of learning to trust the team and pass along some responsibility to their team members.
One thing you can do is to draw out a simple chart that has your position on one level and the other positions within the organization in a row underneath. Fill in each position with the names of the people who perform that function. How many areas did you write your name in? This is a good indicator of how you’re managing people at work and whether or not you’re taking on too much.
If you do realize that you’re too involved in business operations, it’s important to find a reliable resource to take over the roles that you yourself were performing. It can be a very difficult thing for a business owner to relinquish some control, so finding a highly qualified person will help ensure a smooth transition.
Ultimately, learning to trust the team will give your business a higher valuation because it won’t be reliant on one person. Work on managing people at work effectively so that your business can take flight.