Business owners and leaders must focus their energy, attention and time on the work only they can do in the business. Yet the rest of the work still needs to happen. Spending your time on work that needs to happen, but that drains you and interferes with accomplishing the work you need to do in the company, is counterproductive. It prevents us from having the impact we are capable of and from seeing new opportunities. All of this hurts the sustainability and profitability of our business.
There is a cap on growth without a team. Developing a strong team increases your ability to serve your customers, to serve your customers well, and potentially to serve more customers. In order to create the right team for whatever stage you are in with your business, first know where you need to be focused. What is the most important work you need to be doing in the business? Spend your time doing the work that drives profitability and hire out as many of the other things as possible.
Once you’ve built your team, learning to trust them is equally important. You have to recognize you're not good at everything and that your team members are experts in the areas you hired them for. Good people want to be empowered to do the work that they're capable of. They are serving the same purpose and mission as you. They're coming alongside you to help make it all possible.
If you build a strong team but you don’t allow them to do their thing, you’ll get nowhere. If you micromanage or undercut them, they’ll leave. The hard part, as a business owner, is recognizing that the problem is not with those people. You have to be honest with yourself and understand that the problem may be your leadership style. It may be how you manage your team.
Introducing The Inflection Point Mastermind
When you start a business, you’re wearing all the hats from administrative work to marketing and everything in between. Jeff Heyer-Jones, president of SparkEvolve, uses a plate spinning analogy that captures the struggle perfectly. You have a lot of plates spinning and that might be ok when you’re just getting started. As you grow in size and revenue and you are serving more customers, you can't keep all those plates spinning effectively. If you’re not willing to let go of some of these plates and let someone else keep them spinning, it’s holding you back from a growth perspective.
Knowing where you need to be focused in your business and where you need help can be its own challenge. As a leader, as a business owner, you need people in your corner and a place where you can be vulnerable. You need somebody to hold up the mirror and walk with you, even in the places where it's hard, whether that's a coach, a peer advisory group, or a Mastermind. Jeff and I created the Inflection Point Mastermind because we recognize that our businesses dovetail well to provide a journey that develops stronger leaders and businesses and we understand the immense value in surrounding yourself with trusted advisors.
If you’re a business owner looking for a community of collaboration and mutual learning, our Inflection Point Mastermind could be the right place for you to explore your own leadership, work through challenges and implement the necessary systems to reach your future goals. Learn more or register today!
Rhonda Peterson has been working with business executives and owners since 2010 to help them uncover and lean into their strengths and own their leadership roles. Through her executive coaching, leaders gain clarity and are equipped with the skills to build strong teams and grow profitability. Rhonda also uses her signature interactive approach to empower groups as a speaker and workshop facilitator. Participants leave with the knowledge and motivation to focus their energy, do their best work and have a greater impact in their organization and life. To ensure you don’t miss future articles and tips, sign up to have Rhonda’s monthly newsletter delivered directly to your inbox!
