Every company experiences growing pains. Growing pains might look like:
-Delegating more yet constantly troubleshooting issues
-Trying to keep up with the volume
-Having unproductive meetings
You often hear that you need to delegate more, but when you do, somehow the profitability is off or your time is consumed with putting out fires. Somehow with delegating you also lost touch.
Although you’ve experienced some relief in being involved in the daily activities, you’re missing important leadership processes that drive the company.These growing pains often happen when the strategy is unclear, systems/processes aren’t in place to support the delegation, or training is missing to replicate results.
Harriet runs a multi-million dollar business. She delegates to her staff but soon discovered that office expenditures were out of control and the company experienced a dip in its profitability. She also realized that her team missed out on upselling opportunities.
As you grow, your leadership skills also need to level up. It’s not enough to delegate. It’s important to implement the systems or processes that help you to lead responsibly.
Consider these tips to set yourself up to lead powerfully:
1. Communicate and Align All Goals
As your company grows, it’s important to communicate the strategic direction and goals clearly and often. For one of my mentoring clients, we aligned the company’s goals with each of the team member’s goals. Each team member began to understand and track how their goals directly related to the company goals. They were able to see their part in the success of the company establishing greater buy in and engagement in the company’s success.
2. Set Up A Budget with Accountability
Setting up the meeting is a good task to delegate but, like Harriet, you may soon discovered outrageous food bills for the company meetings. Without a budget, her staff overspent on snacks and beverages. To get a handle on it, outline and communicate what you’re delegating so the person or persons know the parameters, like establishing a specific budget for each manager or meeting.
3. Lead with Oversight Processes
While Harriet hired a manager to train her customer service representatives, she had no training standards in place. While she trained the manager, there were no checklists or training guide to ensure the training was evaluated or implemented with the company’s strategic direction in mind.
She completely removed herself without any process in place to see if the manager she trained was training others consistent with the company’s standards. She discovered the hard way that it’s important to have systems in place when delegating. She saw her sales decline, largely because the representatives were missing out on upselling opportunities.
She then had to circle back with the manager to establish standards, develop a training manual, and create a skills checklist to ensure employees received the required training. Each person was re-trained, received monthly mini-training refreshers to keep the training in existence, and established annual recertifications. With this multi-step training process in place, she was able to ensure the upselling opportunities were top of mind and gained control over the company’s profitability.
Each of these lessons is grounded in the assumption that you’re regularly reviewing and addressing your metrics and your numbers. After all, you can’t manage what you don’t measure. Take a constructive look at your growing business and identify where you might circle back so that you can take a giant leap forward.
INVITATION TO WORK ON YOUR BUSINESS
If you are inspired to work on your business, we’re hosting the Wake Up Profitable Boot Camp on October 3-4, 2019. You’ll work through a framework to:
-Identify your human hardwiring (and how to effectively shape your team based on their wiring)
-Create a scalable organizational chart your working toward
-Systematize and monetize all areas of your business
-Create multiple review streams
-Walk out with an Excelleration Blueprint that maps out your scaled goals and objectives
We would love to have you join us at this boot camp for business owners. It’s time to align and scale your business with greater peace and ease.
Register by Friday, September 27, 2019 choosing one of these easy options:
1. Best Value Investment of Only $697
Use this scholarship code to register for only $697 (Regularly 1997) 2019earlybird10wup
REGISTER HERE FOR 1 INVESTMENT AND APPLY THE CODE 2019earlybird10wup
2. 3 easy installments of $250
REGISTER HERE FOR 3 EASY INSTALLMENTS