Is Being a Control Freak Good or Bad for Your Business? | The Small Business BIG IDEA Show
If you’re an entrepreneur, being a control freak usually comes with the territory. After all, you pulled off one of the hardest feats in all of business - you brought something to life that didn’t previously exist. And, in order to do this, you probably had to obsess over every detail. So, it’s natural to want to continue to do the thing that got you to where you are now.
But, we need to be aware of the various stages in the life cycle of a business. Each stage requires a different approach, and a successful entrepreneur recognizes this and adapts to what’s needed. The way you run your business during the pre-launch and launch stage is quite different from what you need to do when your business starts to really grow. It’s this transition that can be the most challenging. If you don’t let go of your desire to control everything, your business can suffer as a result.
As entrepreneurs and small business owners, we should remain in charge of the big picture and strategic direction of our companies. But, in order to achieve our long-term goals, we need to begin to share responsibility and delegate to others. This starts with forming a team of trusted employees that you can rely on to get the job done. Now, if you have a really small business, your team may consist of just you and one other person. Regardless of the size, building a team is important to making the transition from doing everything yourself to becoming a leader within an organized system.
If you fail to spread out the workload and get others involved, you can suffer the consequences of being a control freak. Some side effects are as follows:
- You may become stressed-out trying to get everything done. You may also feel overwhelmed and lose passion for your work.
- Your company’s growth could become stunted, because what you can accomplish is limited to only what a single person can do.
- Your business could grow stale from a lack of input and fresh ideas, since you haven’t included other people with a vested interest in the success of your company.
- You may be forced to pass up opportunities, because the capacity to capitalize on them isn’t present within the business.
Of course, you don’t want any of these things to happen. So, what you need to do is put the right system and infrastructure in place to ensure that you’re set up for success. 6 key aspects of this system are:
1. Hire people that buy into the company’s vision.
2. Put the right people in the right positions to leverage their strengths.
3. Ensure that there is alignment between company goals and the work that employees do on a daily basis.
4. Make sure employees have the support and resources they need to be successful, and then give them the freedom to do their jobs.
5. Hold employees accountable for results and for adhering to company standards.
6. Involve employees with goal setting, and make sure there is a mechanism in place to receive their feedback and input.
In order for any of this to work, you need to break free from the mentality that you have to do everything. Instead, you need to shift towards a teamwork mindset. Then, you can harness the power and leverage that comes from having everyone working together towards a common goal. This is how you multiply your efforts and reach your dreams that much faster.
Now, it’s time to hear from you. Have you ever suffered from feeling that you needed to control and do everything at some point in your business? If so, how did you overcome it, or what are you currently doing to overcome it?
Remember, as small business owners and entrepreneurs, one of the best ways that we learn is from each other, so please share your thoughts in the comments below.
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