The desire to hold on to power comes pretty naturally to
most of us.
That desire, though, leads to mediocre business performance. For business owners, it also suppresses wealth.
Why is that? A great illustration is a football team. If you were a head coach and you tried to simultaneously manage each of your 11 players individually, the result would be a disaster. Why? It’s impossible for you to optimally deploy all 11 players simultaneously while also keeping the big picture of the game. The talent is not deployed to maximize productivity, so team effectiveness drops.
In your business, that translates into higher labor costs than necessary for your output, which means lower profitability and lower value. Moreover, if you are not able to demonstrate to acquirers that the business can run without you, the market value of your business is reduced.
Better: coach and train your employees to do their jobs with little input from you. By leveraging their great ideas (after all, they have experience and training that you don’t have), you increase productivity and profitability.
Want to know if you made it? When you find it hard to put in 40 hours of work because things keep getting done, you’re on the right path. If you’re an executive, don’t sweat the fewer hours – no one will complain about your organization’s awesome productivity.
Want help making yourself unimportant in daily operations? E-mail us or give us a call at (202) 640-1908 and we’ll yank you right out of those operations! OK, maybe not, but we can definitely help you like we’ve helped thousands of business owners around the world.
Ingar Grev
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