It’s true, the world needs entrepreneurs like you… so are you wondering how to be super successful in your business?
It may come as a surprise, but you need additional skill sets and a team of people to achieve company growth, goals, and long term success! Most likely, you already know that you have stepped into multiple layers of challenge, change and learning as you work hard to turn your vision into reality!
As scary as it can be for an entrepreneur, and as you go forward and face your fears to achieve your vision, there needs to be a willingness for you to stretch, grow and let go! That’s how you position yourself to make a difference in this world, as you provide products or services that are unique and needed.
TO BE A SUCCESSFUL ENTREPRENEUR, DO THESE SIX THINGS
Those in the tech industry are vivid examples of successful entrepreneurs who contribute to “making the world go ‘round,” well beyond what most of us will accomplish or earn, but nonetheless they did (and still do) what all entrepreneurs must. They took a chance to:
1) act on their dreams; learn, develop and grow, personally and professionally
2) allow mistakes and failures to help them seek new opportunities
3) stay in step with global change
4) create something unknown and different
5) consistently respond to the needs in the marketplace
6) trust other people; accept team/people are the all-important asset needed for success
All of that said, PEOPLE drive the functions that make any business successful!
As an entrepreneurial business coach, it is my honor to share information, coach and hone skills, as I come alongside all types of business owners as they seek to turn their vision into a profitable reality.
However, it is sometimes a humbling experience for CEOs/owners to accept that a successful business is not a solo act! (I’ll be frank. It’s a really hard truth to swallow for some entrepreneurs.)
When I introduce the team concept, it is the impetus for CEOs to personally develop executive skills in a variety of areas, so that they show up each day as an efficient, knowledgeable, confident and respected leader.
Interestingly, to best establish and utilize other people, a CEO must learn how to increase their own value by identifying what that is; they must understand the specific constraints of their role, and how to hire and develop others on their team that have expertise in areas that they do not have or should not take on. These need to be people who can be trained and trusted to make decisions and take responsibilities that free the CEO. Because—outdated, top down authority, where one person at the top tells everyone else what to do is no longer a viable option in the workplace of today.
An ongoing dynamic tension—until it isn’t!
Does this sound familiar? As an entrepreneur, you are the innovative founder at the top of the triangle; within you lies the knowledge and passion needed to build your specific type of business. You’re the spark that started it all. That said, if you’re doing it all and wearing all the hats within your company. It’s simply not sustainable.
Too often, do you feel if you drop one ball, it’s all going to fall? If so, you are on the verge of being worn out and burned out.
DEFINING THE CEOs ROLE IS VITAL
To free CEOs up, there are a variety of additional skill sets and people needed to effectively run and grow a business—tasks and functions, of which, one needs to efficiently learn to let go of, and not be responsible for any longer. In some cases, CEOs don’t even know how to do them, but perhaps have tried. It’s a transition that takes time.
To become an effective business owner and sustain for the long haul, you must cross-over from working solely as an individual, like you probably did in the beginning, and may still be doing, to relying much less on your individual effort (in lower triangle business areas) for long term success.
HIRE ‘A' PLAYERS
There are many layers to building departments and a cross-functional A+ Team, but before we can coach on how to best utilize a team of people, you have to hire the best people.
Are you hiring? Consider these key points to raise your awareness about what the best people (those A+ Players) want and need to take a job with your company.
Who should you hire? Hire people with great skills, experience, and personality that are the right fit for the job; and hire people who have the capacity for Self-Leadership, and those that have a willingness to work independently and as a team. Hire those who want to take ownership in achieving company goals.
Now, more than ever, employees will no longer stay in an unhealthy, top-down authoritative environment just because they need a job. They want to be in an environment where their contribution and work-life balance is valued, so consider the following things and openly discuss these points when you interview, invite them to respond.
Know what A+ Players” REALLY WANT in their job…
- To enjoy material and status rewards (compensation, prestige, perks and benefits)
- To grow, learn and develop in their role
- To be recognized and appreciated for their contribution
- To meaningfully contribute to achieving great results
- To commit to a greater purpose beyond themselves
- To perform within an environment that has peer-based collaborative discussions and decisions (seriously, employees will not stay in an unhealthy culture of top down authority)
Know what ‘A’ Players NEED FROM YOU, the CEO or executive leader…
- Vision, clear direction, and defined outcomes (know what they’re working towards)
- Psychological Safety (an environment free of blame, criticism and judgment)
- Other A+ Players; a developing Cross-Functional Team
- Resources (financial, people, training)
- Structure (business/systems, people/team)
- Solid Support (in word and action)
When a CEO starts to build a team, he or she must begin to “let go” of wearing all the hats. That begins a better way of doing business…
In the meantime, within your company, is there already a person working for you who demonstrates Self-Leadership and ownership of projects and outcomes? This is the person I want to see you rely on differently.