Take a look at the following list of functions that someone is doing in your business. Beside each function, put the name of the person(s) who does this for your company. (I suggest you print this list out and use it as a checklist.)
When you’re done, add up all the items on the list that have your name next to them. Is it really possible for you to continue to grow your company the way you want to if you’re responsible in whole or in part for so many different functions?
- Producing your core product or service.
- Managing the production of your core product or service.
- Customer service.
- Fulfillment.
- Purchasing.
- Admin.
- Managing of your facilities or company infrastructure.
- Lead generation.
- Lead conversion.
- Sales management.
- Creation of sales collateral.
- Sales strategy.
- Tracking of your sales and marketing efforts.
- Branding.
- Offer creation and strategic pricing decisions.
- Accounting and general bookkeeping.
- Accounts payable.
- Accounts receivable (collections).
- Budgeting.
- Cost controls.
- Cash flow management.
- Management of financing.
- Hiring.
- Orientation and onboarding of new team members.
- Training, review, and retention of team members.
- Managing employee benefits.
- Labor law compliance.
- Exit processes when you need to let a team member go.
- Strategic planning.
- Creating company culture and traditions.
- Vision casting for the company.
- Communication processes company-wide.
Looking back at this list, how many of these functions directly or indirectly fall on you?
Is this really a sustainable path to grow? If not, what are you going to do about it?
Just having this list and this awareness is a powerful place to start. Most business owners I meet are oblivious to this problem. It’s almost as if to articulate the truth would be too painful for them to accept so they keep themselves from even having the thought.
Action Time:
Pick ONE item on the above list that you’re currently doing and over the next 30 days hand it off to one of your team members. When you hand it off to them, include the structure and training they need so that you set them and your company up to succeed.
If you don’t think you can hand off the item you chose, than break off a piece of that item that you can handoff to a staff member. Building a Level Three business is made up of a series of small progressions. It’s okay to take baby steps.
If you want to learn more about successfully scaling your company, try this sample 30 page excerpt from my latest book, SCALE: How to Grow Your Company and Get Your Life Back.
Also, to help you grow your business and get your life back, we just put the finishing touches on a powerful free toolkit which includes 21 in-depth video trainings on how to intelligently scale your company. To access this free toolkit click here. Enjoy.
Originally published at www.inc.com