Companies transform as they grow. You need to transform too and become a new type of leader for your growing business. To listen to the episode hit the play button. To download the
Companies transform as they grow. You need to transform too and become a new type of leader for your growing business.
To listen to the episode hit the play button.
To download the episode, right click on this link and choose Save Target As. Go to the folder where you want to save the recording on your device and click Save or Enter.
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Companies transform as they grow. You need to transform too and become a new type of leader for your growing business. Entrepreneurs can fall into a trap where as they try to manage everything in their growing business, they struggle, just to keep up. Once that happens, some of the critical decisions and strategies he or she should be focusing on, get left to the backburner.
In today’s episode we’ll talk about some of the symptoms to look out for and what entrepreneurs need to do actually grow with their company.
*When a business is smaller it is all about the entrepreneur, but as it grows it moves to being all about the organization the he builds.
*At some point, a business becomes too large for an entrepreneur to manage and he must begin to build an organization that can help him effectively execute and continue to grow his business.
*Entrepreneurs can fall into this trap of not growing with their business.
*Symptoms include doing too much of the day to day tasks, micromanaging, decision bottlenecks, surprise problems, frustrated by workload and the lack of strategy and direction.
*To make a successful transition and grow into a new type of leader, entrepreneurs need to recognize that they can’t do it all and learn to delegate and develop trust in their staff.
*Creating trust to effectively delegate involves setting up staff for success with good hiring, clear communication and a clear organizational structure.
*Businesses can easily get into trouble if entrepreneurs become a decision bottleneck and aren’t making the transition to create structure with the staff responsibility and span of control.
*Businesses can stagnate if an entrepreneur is not making the transition from manager to leader.
*Entrepreneurs need to focus on long-term strategy, communicating the vision, mission and goals, challenging the status quo and inspiring and motivating the staff.
Resources and Links
Have you fallen in the trap of not growing with your business?
Set up a session with Lisa Roberts to talk about getting out of the trap to grow a healthy business. Use this link to set up a session with her by following this link.
For further reading on the subject of leadership, check out some of these books:
True North, Bill George with Peter Sims http://amzn.to/2nIJY0U
Good to Great, Jim Collins http://amzn.to/2nIH6RW
The 21 Irrefutable Laws of Leadership, John C. Maxwell http://amzn.to/2o2BvGu
Note: Links in this post may be affiliate links. Lisa Roberts is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.
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Lisa Roberts is a business operations consultant who advises growth company entrepreneurs in successfully managing growth and the challenges they face along the way. She has over 25 years of experience in operations, finance and administration and spent several years in executive roles at a high growth company. She recognizes that there is a fine line between success and failure in a growing business and that entrepreneurs need to focus on managing finances, creating a sound operation and employ good business practices to stay on track. You can find out more about her here