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Decision-Making, Roadblocks to Growth
 

Being entrepreneurial means being driven, results-oriented and a confident decision-maker. While these characteristics are what got your company off the ground, they can also cause your company's growth to stall. The greatest weakness of most entrepreneurs is their inability to let go of the day-to-day decision-making. Instead of drawing on the skills and talents of key employees, entrepreneurs often fall into the minutia mode and make every decision for every employee.

However, you're time and energy is much better spent on the strategic success of your company and managing your team to their own successes. Although not an easy habit to break, below are five ways to keep you focused on running your business while empowering your team to handle the operations:

  1. Answer your employees' questions with "I don't know."
    If you feel that you're bogged down by having to think for the entire company, it's probably because you've trained your team to do so. A common trait of entrepreneurs is that they always have the answer and are quick to give direction. As a result, your employees become accustomed to coming to you every time they have a question, instead of finding the answer themselves. Next time one of your employees asks you a question, tell them, "I don't know. Why don't you look into it and let me know what you've decided to do." You'll train them to rely on their own skills and make solid decisions all day.

  2. Allow your employees to fail.
    You hired your team because you felt they were qualified professionals who had expertise to offer your company. However, many entrepreneurs don't allow their team to exercise this expertise. Instead, you insist that they run everything by you and you end up making the final decision. Or, when an employee does make an independent decision within their area of responsibility and it goes badly, the entrepreneur often scolds them so badly they'll never try to make a decision again. The solution? Handle employees' failed decisions with calmness and help them come up with a resolution. This trains them how to make better decisions while building loyalty to you and the company.

  3. Play second fiddle to your employees.
    Although it is the natural reaction of most entrepreneurs to be the answer person during meetings with outside vendors and partners, keep in mind that you are positioning yourself as the contact person for follow up. In addition to creating more work for yourself, you're not utilizing the time and skill of your employees. The next time you're in a meeting with one of your employees and an outside consultant, shut up. That's right, keep your mouth shut to allow your employee to run the meeting, answer questions and give direction. Of course you should make sure the employee understands that they are running the meeting and knows your expectations in advance of the meeting.

  4. Give your employees room to breathe.
    Entrepreneurs are usually high-energy people who want to get everything done right now. That includes what you need or want from your employees. If you find yourself emailing, calling and constantly interrupting your employees' throughout the day, you're limiting their ability to be productive. Instead, set up a weekly meeting to review the status of projects and give them the freedom to do their job the rest of the week. When you do need information from them, ask if they are available for a quick question or ask them to stop by your office when they have 15 minutes.

  5. Reward for good decision-making.
    In too many companies, the entrepreneur takes the credit for every good decision made. You may be saying, "I should get the credit, I take the heat for every bad decision." If you want to be a company of one, then continue this behavior. However, if you want your employees to make more decisions, free up your time and run a better business, make your company successes the result of your team. When a new sales initiative generates great results, make sure everyone knows that your Sales Director managed the project and made the decisions that lead to that success. You'll not only make the Sales Director a better employee, you'll encourage the same type of behavior from the rest of your team.

360 Business Consulting can help with all of your sales and marketing needs. Contact us for a no-risk, no-cost consultation.

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