It’s All About You
As you step into the mindset of an entrepreneur it can start to feel very lonely. Decisions are made with great insight and research, but not always understood by those around you. Running business can require you to know a lot about the people under you but they cannot know everything about you. And if you were to share everything about your business with everyone involved it could ruin your competitive edge, not to mention the moral of your business. Being the head of your business means you take responsibility for everything and sometimes that is a very solitary position.
In small business we are often the only person the knows all the ‘moving parts’ in the business plan. With few employees we will be the one wearing the majority of the hats in our business as well. When I say it is all about you, it is nearly all you. Running a small business takes skills and talents to be able to manage and understand the significance of every position in your company.
The larger your business the more support you get, in terms of offloading work, but you will still be responsible for all the work done in your business, just not doing the work. So what is that critical point at which it is not all about you anymore? What I mean is, at what point can you give away a responsibility and be confident that work is getting done?
Micheal E. Gerber in his book, “E Myth Mastery: The Seven Essential Disciplines for Building a World Class Company” tells a story of giving away the CFO position to a competent expert and still going bankrupt. His lesson to us is that we are always responsible for what our business does, what it owes, what it creates, what it ships, and how it treats its clients and employees, and at the top of the power pyramid in your company is you, the CEO.
Think of yourself as the parent of your company. As a good parent you are responsible for the action of your child until they are actually legally liable to take the responsibility themselves. It is similar with your business. Until your business is large enough that there is enough people in the company to help police and oversee each other’s actions, you will be the one to oversee everyone. In a family, if you were to share family issues with your kids they don’t have the skills or understanding to be able to process the challenge and understand the risks or solutions. It is the similar as the leader of your business. Giving everyone in your employ the knowledge of all aspects of your business can lead to worry, anger, doubt, etc. and may not be easily tolerated by your employees.
It is a lonely seat that must watch over and guide the masses within, but it will get less lonely as you lead those underneath you to step up and be leaders in your business as well.
Until then, it is all about you, so act as the one responsible, take responsibility for the companies actions, and learn how to handle conflict without getting defensive. You will be modeling the way for future leaders to take over some of your hats, and as a result you will be increasing the value of your business.
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