Some people feel they have an instinctive feel when it comes to business, which drives much of their decision-making.
Being self-driven and spontaneous can be good for SMEs and startups, however, these are not qualities that will guarantee longevity, or even survival.
Who Runs Your Business?
“When you start your business, leadership may not be something you consider, especially if you start out as a sole trader, or a partner. But if your business expands, and you want it to continue to thrive, then there are aspects of leadership you must then consider.”
One of these aspects is delegation.
“Successful business people discover that they cannot do everything themselves and that it is advantageous and strategically sound to learn to delegate responsibilities”
The classic example of when this is absent is in a business where the owner cannot risk taking a holiday because only they know how the business runs.
“Good business leadership is about knowing when to relinquish strictly control, and to build something that will run without your intimate, hands-on involvement.
For a business to plan for growth, it must be structurally scaleable. If all the vital knowledge is concentrated in one key person, this will not be the case.
“Sustainable success comes from putting processes in place and, vitally, sharing them.”
Instructions not Impulses
If delegation is one part of the equation for long-term business success, the other part is instruction.
“Processes are integral to progress in business. They are the essential structure on which you build your success, and they make delegation straightforward.”
How a business accomplishes and carries out key tasks should be a matter of clear, documented record, providing absolute clarity to all involved.
“There’s a danger that business owners simply do things their way, but don’t share what they know with people they can rely on, meaning that there are gaps in people’s knowledge, which can lead to problems sooner or later”
To a great extent, a business’s reputation rests on its administration, and its administration will only work effectively and efficiently if it has clear processes to follow.
“This covers essentials such as processing orders, paying invoices and dealing with customers. If, for example, a key supplier isn’t paid on time simply because the boss is off sick, what does this say about a business and its overall readiness to step up to meet new challenges, never mind existing ones?”
Yes, businesses need to be agile and adaptable to survive, but they need a firm grounding for their processes to anchor them, so that they have a core stability.
“Your business shouldn’t be an ego thing. It’s not about you, but about your customers or clients, and about growing something that will take on a life of its own.
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