You've given everything to your business, but what are you giving to it on a day-to-day basis? Even if you're working around the clock, are you working as smart as you could be? Is your business benefiting from what you do best? It's not easy to do, but it really can pay to occassionally consider your own role and think about delegating to other manages. This guide will look at:
Continually reviewing your role within the management structure and company as a whole is crucial to business success. Expansion makes it difficult, if not impossible, for one individual to oversee everything - it's simply unhealthy to remain the centre of all activity. Perhaps more importantly, an owner tied up with day-to-day minutiae won't have time to move the business forward strategically. In turn, if strategy isn't your strength it's better to recognise that and draft in those skills.
The greatest danger is that you simply take on too much. Yes, the work gets done, but if you find that you're leaving the office at 9.00 or 10.00pm, then it's time to think about delegating work to others. Consider whether your managers have sufficient space - if you've appointed a new head of sales but you're still sitting in on all the pitches, consider structural change. If you try to do everyone's job all the time it will cause morale problems.
One way to reduce your workload is to focus on what you're good at - look carefully at your own strengths and weaknesses. In the short term that can be as simple as cutting down on work that others can do better. However, a more strategic approach is to look at the management skills that the company needs to move forward. Put your own skills on the table along with those of other managers. If you find gaps, it's time to bring in new talent. Make focus your mantra.
Delegation can be tough, especially if you think you can do the job better. Let go because unless you do, you'll stop the business progressing. Let people do their jobs so you can focus elsewere. Look at bringing in specialists with track records in achieving your strategic goals so you're sharing the load and diluting the risk. Even consider if it's right to relinquish the role of MD or CEO altogether in order to focus solely on strategic rather than operational matters.
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