Business Owners need to learn how to properly delegate roles in order to create a sustainable business. We have seen instances where business owners, who have worked as an “army of 1”, leave their business or retire and the value of the business leaves as well. If you really want to make a difference in your employees lives and you want to create a lasting business long after you leave, you must learn the art of delegation!
Delegation is tough for some business owners. It is about empowering others to step up and make decisions on behalf of YOUR business and it is about you TRUSTING those employees to do so. Let me ask you a simple question: Why did you start your business? Look back to when you were a wide eyed, optimistic entrepreneur. You started your business probably because you had a passion and wanted to make a difference in some kind of capacity. You have now created a successful business, one that has value and one that employs actual people! It has been successful, however you still feel the need to make every decision on your own.
What is your company going to do when you retire? Is it going to continue to run successfully or is it going to run like a ship without a captain?
If you want it to run successfully when you are gone, you must master delegation. Stop wearing every hat in the business and find people who are capable and willing to help your business grow. Find people you can trust to make the right decisions, that work within your value system and your business’ objectives. If you fail at this your business will likely fail soon after you leave.
To learn more, contact our team at LBA Haynes Strand Capital Advisors for your no-cost consultation!