Danielle Levy Business Growth Strategist & Founder of The Boardroom League.
As an entrepreneur, getting caught up in doing everything yourself is easy. After all, you started your business and know it better than anyone else. However, trying to do everything yourself can be counterproductive and ultimately hinder the growth of your business.
As the CEO, your role is to lead, strategize and set goals for your business, but you can’t do that when the day-to-day operations consume you. Instead, you should prioritize tasks that drive growth and create long-term value.
Are You Running Your Business, Or Is Your Business Running You?
When you started your business, you likely focused on taking one step at a time without worrying about building a solid foundation. Now, your to-do list keeps getting longer, and you feel like your business is running you instead of the other way around. The signs might include:
• You work long hours every single day.
• You’re trying to please everyone all of the time.
• You aren’t clear on your end goal, and you’re just going through the motions trying to stay afloat.
It’s easy to get caught up in the daily grind of running a business and lose sight of the bigger picture.
Being The “Chief Everything Officer” Is Slowing Down Your Business
Here are three key indicators that you may be slowing down your business.
• Scrambling to respond to clients: Are you spending more time than necessary sifting through your inbox and trying to locate old emails? If so, it may be time to streamline your communication processes.
• Needing to hire help but not knowing where to start: Are you feeling overwhelmed with the workload and know that you need to hire additional support? Maybe you’re hesitant to do so because you don’t know how to delegate tasks effectively. Remember that delegating tasks can actually save you time in the long run, but it does require some planning and organization.
• Unable to find time for strategic planning: Are you constantly stuck in the weeds and unable to focus on the big picture? Strategic planning is critical for the long-term success of your business, but it can be difficult to find the time to do it when you’re constantly putting out fires.
Building a business is hard, and scaling a business can be even more challenging. The good news is that when you take the necessary steps, you can return to doing more of what you love, both in and outside your business. You can’t keep doing everything yourself to grow and scale past where you are now. Delegating work and trusting your team is what’s going to make that next stage possible.
When you have the right people in the right seats, everyday operations can get done faster and more effectively. Handing off allows you to get out of the day-to-day operations and start working in your zone of genius.
To delegate effectively, you must have a team to delegate tasks to. I often assist my clients in selecting the right team members because having the right person in a role that complements their skills can significantly enhance your business’s productivity.
On the other hand, hiring the wrong people, or placing the right people in unsuitable positions, can be a costly mistake. It’s not just the expense of recruitment and onboarding that’s an issue; there’s also the cost of training and integrating the new team member to work effectively.
What The CEO Should (And Should Not) Be Spending Time On
Like anybody on your team, you must also understand your job description. Touching every aspect of your business regularly might seem like a way to stay informed and in control, but it’s not sustainable.
At the core of your role as CEO is setting the overall vision and direction for the business. This includes establishing values, creating a mission statement and developing a high-level strategy that aligns with the company’s long-term objectives.
But how can you do this while still answering customer questions and troubleshooting tech issues? Unfortunately, the answer is: You can’t.
A CEO should focus on the following.
• Setting the overall vision for the business. Establishing values, the mission and the general direction.
• Developing a high-level business strategy aligned with the long-term objectives of the company.
• Determining how to balance current capacity and future growth.
• Establishing the organizational structure.
• Serving as the brand ambassador for speaking opportunities and events, strategic partnerships and business development.
A CEO should not focus on the following.
• Routine administrative tasks.
• Technology management duties, such as maintaining software, online business tools, and troubleshooting.
• Managing and facilitating communication between departments and employees.
• Fielding all incoming communications, whether via email or social media.
Your role as CEO is critical in shaping the company’s direction and creating a clear vision for the future. While it may be tempting to involve yourself in every aspect of the business, it’s not a sustainable approach. Instead, you can effectively lead your team toward success by focusing on high-level strategy and organizational structure and acting as the brand ambassador.
You must recognize what you should not be spending your time on, such as routine administrative tasks, technology management and fielding all incoming communication. By delegating these responsibilities, you will free up time to focus on strategic decisions and propel your company toward long-term growth.
Optimize Your Role, Maximize Your Impact
Claiming your role as the CEO and delegating tasks effectively is not only crucial to the success of your business but to your ability to enjoy all of the freedom and fulfillment that entrepreneurship offers.
By focusing on your core competencies and delegating tasks that others can handle, you can drive growth and create long-term value for your business. And remember, you are most valuable to your business when you can work in your zone of genius and are not burnt out.
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