Have you ever thought that if you walked away from your business, it would fall apart? Why? What is so incredibly important about you that removing you from the business even for a short while would mean it does not function?
Many Small to Medium Business (SMB) owners feel that without them the business would crumble. They are convinced that no one could do it the way they do it, and they are the key employee. Truth is no one could do “it” like they could, but in many cases that is a good thing. And, more importantly, if you are the only one then you are a prisoner of your own success.
Business growth requires someone to look at the Market and the Business from a different perspective. The founder is usually the one that drives change by setting a new direction for the team, or maybe even for the overall business. Think about adding a drive through at a fast-food restaurant, who came up with that idea? Could they have done it if they were the ones in the Kitchen cooking all the time?
Companies need many elements to succeed and grow, but that cannot come at the total sacrifice of the founder. The founder must be allowed to look for new opportunities within the existing business or figure out a new business that will take over for the old. Unfortunately, too many founders stick around and make the business “work,” and they are oftentimes the worse person to do that because their skill is not in “turning the crank” it is in inventing a new way to crank the business up.
To become the owner of a business that pays you back, you must release the business from your grip and let others run it. Many would say that this is very difficult, and it is, but if it is not done the business becomes a prison and, in many ways, gets chocked by the founder’s time limits.
One answer to that problem is to pass the business along to the next generation. However, most businesses that are handed over to the next generation fail because the business is not prepared for someone else’s management of them. Just because they are the founder’s children does not mean they have the same passion for the work or think the same way.
It is the duty of a responsible founder to figure out how to make the business run without them. This may mean sitting down and writing out all the procedures required. I know of many business coaches that do this very thing with their clients. They sit with them for several days and document everything that is done. It is brutal, but very effective! It gets it all done in one shot and then you can move on from there. What is written down is not usually pretty, but it will work. What is also true is that it becomes the foundation for the team to refine and possible re-write.
If the founder cannot or will not, take the time to write it all down, an alternative is to bring on a professional management team that will learn the business from the founder and create that documentation and structure. This is difficult as well and can take more time than just writing it down, but it can also lead to incredible strengths in the business as there will be more than one person involved in getting things done. Key to all of this is that the founder must not forget that the purpose of bringing in the “professionals” is to create the structure for the business to run without the presence of the founder. The person or persons brought into the business are not assistants to the founder. They are there to manage the business and should be given authority to do what it takes to get the job done.
Once you have done all the writing or hiring of the “right” person/people, how do you know if it worked? Leave! Not permanently but leave on an extended vacation. Make it 30 days without little contact. The likelihood of the business going under in that time is fairly low and the experience for everyone involved will be extra ordinary. Leave emergency contact information just in case but be sure to define what an emergency is!
Want to give it a try? Want to learn the steps? It is simple, just e-mail me at rick@gramatges.com and we can set up a time to talk about how to write it all down and walk away.
Gramatges Consulting 