Majority of the entrepreneurs of small and medium enterprises are working IN their business because they are involved full time in all its minor details. Their business’s dependency on its owner becomes too high. For example, the business owners tend to get too involved into everything like marketing, sales, operations, hiring & firing, and Research and Development etc.
They also think that what they can do IN their business will be far more effective than what their employees can do. That’s why most of the times they become too afraid to delegate. Sometimes, business owners also have personal relationships with their clients and become afraid that if they do not personally deal and interact with their client, he/she may not book with the business.
The result of this is that they end up working as firefighters IN the company. Whenever the business encounters even the most minor of the problems or setback, the owner feels compelled to resolve it on his own. Gradually, their presence in their business becomes extremely essential for it to run.
Also, because of this intensive involvement, they have no time left to work ON their business, that is, for Business Development.
To take your company to the next level, scale up and increase your income, first you have to do this: FIRE YOURSELF!
That’s right! Fire yourself and work on building the teams, systems and processes. Build a company which can work without you and that’s how you won’t have to work IN your business again. You should always be the one working ON and developing the business and leave the rest of the things like marketing, sales, hiring & firing, operations, designing your able employees. This is why you hired them!
Here are three things you must do to run your business without you:
- BUILD PERFECT TEAMS: COMMITTED & COMPITENT
To make sure they are committed, you have to first find out what their expectations and needs are. Know your people, what are they looking for and what do they need. Do not take their commitment for granted. You have to inspire this commitment by keeping them happy because they are your assets and you trusting them with your company! Understanding your team member’s long term and short term life goals will help you find the best way to motivate them into work harder for you. Make them feel like your business is their business too. This way they will commit to their work like they are working for their own company and match your level of commitment towards it!
Building a competent team after making sure that they have the required skillsets is again, your responsibility. Set clear goals and team values for them. Use the techniques of positive reinforcement rather than negative reinforcements and reward them for their endeavors and criticize their mistakes rather than personality. This way, you will end up making the sky their limit!
- CREATE COMPANY SYSTEMS: SUSTAINABLE AND EASY TO FOLLOW
Setting up systems in your business should be your priority because it will improve your productivity, reduce stress, gain you leverage, free up time, and let you focus on what you can do best — grow your business. These systems should be smart and easy to follow so that they can fit in the minutia of your company’s day-to-day operations carried out by your employees.
Create business systems for repetitive tasks in your business. The key is getting this system out of your head and on a paper. Do proper documentation and do not rely on memory to get everything done because that is how things fall apart — especially when you are very busy and your business has started to grow rapidly. Documenting will automatically ensure sustainability of these systems.
- MAKE BUSINESS STRATEGIES: PROFITABLE AND MAGNETIC
Your business strategies should make you a magnet. This means that they should attract your customers and make them come to you rather than you going to them. This will make your strategy highly profitable and there are many ways to accomplish that.
Identify your ideal customers and start attracting them even before they become your customers. Plan your communication strategy in such a way that it tells your customers how they absolutely need you to make a difference in their lives.
When they come to you, make sure that the customer experience you give them delights them beyond measure. That is how they will come back to you, spread word about you and then attract even more customers for you.
Do not try to become everything for everyone. Be genuine and true to your ideal customers. Let them know that they are exclusive to you and your services are especially tailored for them only. This will make them recognize other people like themselves and add them to your customer base without you making many efforts.