Are You Managing Your Team or Your Business?
I see it all the time; company after company, most often with companies $20M and below. Founders, owners, visionaries work their butts off to create a business out of nothing. They not only invest a ton of capital into their business, but they also pour in their blood, sweat, tears and, sometimes, their relationships, all in an effort to realize their dreams. Then those companies, at various levels, begin to stall. They suffer from turnover. They wonder why it feels like they are doing everything themselves. Is it how they hire people? Is it a lack of training? A lack of support? How they are managing their team?I think it’s something else.Every business starts with a big idea - and a very small teamI have noticed every business starts with a big idea combined with a very small team. Typically you have the owner right in the center, making all of the decisions across every level of the business. And who can blame them? They are the ones who have leveraged their house, their name, and their future. Everybody else on the team can just go get a new job. Right from the start they teach everyone around them that only they can make decisions. These decisions range from what bill to pay, which vendor to select, to what kind of pizza to get as a team. Even though everyone starts with the right intent, this behavior eventually becomes a part of the company's DNA. And owners begin to question why they can’t grow their business?There are many ways not to scale your business but here is a big one; micromanagement. Micromanagement is one key area in which many owners unknowingly fail and that ultimately stunts the business’s growth.Four Ways Micromanaging Hurts Your Business
- Erodes trust in your staff
- Increases employee turnover
- Makes it nearly impossible to attract and retain superior talent
- Decreases your ability to scale your business significantly
I have observed, through the natural evolution of growing a business, that if as owner you can’t trust and let go - empowering others to both lead and think - not only will you find yourself in the middle of every minute decision, but you will teach your team not to think for themselves. All of this can have devastating long term impacts on your business and many times I have found it very difficult to change. It’s not impossible, mind you, but it is much more difficult than it needs to be.Look in the MirrorIf you aren’t scaling your business, look yourself in the mirror and ask the question: “Am I micromanaging my team?” And if your answer is yes, ask a follow up question: “What impact would it have on the business if everyone was actively solving problems rather than relying on solely on me?” If you are, get out of the way and stop micromanaging today. Take it from someone who has been there: you can avoid micromanagement, and scale your business fast. Or you can keep micromanaging, and your business won’t scale fast, if it scales at all. For more information, or if you want assistance in overcoming micromanagement, reach out to us anytime at firstname.lastname@example.org.