Your business can and should grow beyond you. Following my article, a few weeks back on quitting your job as the CEO of your own business I have gotten quite a few people asking me what the journey to this looks like, is it a fact, is it doable? Especially in this economy, climate, market, weather, traffic… Ok, I’m joking about the weather and the traffic but you get the point that we sometimes wonder if this can actually happen and look for reasons as to why it might not work.
I did a presentation at an Executive Entrepreneurship program a few days ago and got to define my version of leadership. I believe leadership is seen not by what happens when you are there, but what happens when you are not there. We are not good leaders and don’t really embrace the true spirit of entrepreneurship when our presence is what keeps everything together all the time. When I ask people whether they can take a few days off work, a week or a month. I get gasps and surprised looks. The truth is, if you are not intentional about starting or building a business that runs without you it will just not happen.
One of the classes I teach in the Centonomy Entrepreneur program is on vision. Of course, people have visualized what they would like their business to look like in a few years. It could be having more outlets, employees, the impact it will have had on customers, the type of culture and the list goes on. This is good. But a very important question, I always ask is; What’s in it for You?’ And this is not about what the business will achieve.
There has to be something beyond business growth and influence that is working for you at a personal level. Money is great but we have to go deeper than that. If you ask me when we actually peel the layers off it is really about freedom. People would like to spend time on what they love to do. They would like to go on a holiday for a week and not have to pick up the phone. They would like to explore other interests. They would like to have time to think, plan, strategise, learn etc. If this is you, you have to first decide that you do want a business that can run without you. Once you have made that decision there is a price to pay. The biggest cost is your ego.
Let other people shine. I remember the first time I let another trainer teach my class I thought I was going to die. I kept wanting to interrupt because I would have chosen to say what he said differently. My students loved him and he is still one of our top trainers even today. Clearly, they didn’t have a problem. I did. Rather my ego did. I am not saying be careless about letting go. Do what needs to be done before making your move. I had to train the trainer. Do what you can. Teach people how to talk to your clients, how to write those proposals, how that equipment works, how to bill, what to say over the phone, how to deal with suppliers… You can even have feedback mechanisms in your business so that you can quickly know what is working and what is not working.
These are referred to as processes and structures which are needed to support your growth. They will help you do other bigger things while the factory is still operating. This decision will impact your hiring choices. The decision on whether to employ person A or B may come down to your sense on whether somebody can work independently or if they can solve a problem. If you thrive off being a hero, you will end up choosing the person who will need you. The best ideas in your business may not come from you. At least not in everything but you have to encourage a culture that appreciates that. This decision will also impact how you manage money. I also facilitate a class on separating yourself financially from the business. Yes, you can pay yourself and the business still runs. You will not die if other key people in your company understand how money goes in and out. It will work in your favour especially with the correct accountability measures.
As you consider all this develop a bias towards action at all times with a good amount of faith. This raises your frequency. Take a class that will help you set up these structures. Read that book. List down all the things you would like to release and tick off one at a time. You will be surprised to find out that there are some that you can do immediately. As you make progress test the business with a real day or week off. Absence also allows you to discover how far you have come and what still needs to be worked on.
Registration for the Centonomy Entrepreneur Program is ongoing. Classes begin on 19th February. To register kindly email ruby@centonomy.com or call 0700801112.
Waceke is the founder of Centonomy and coaches businesses through the Entrepreneurship Program. Get in touch on waceken@centonomy.com Twitter@cekenduati