Thinking Like The Owner Of A Big Business

global-team© 2014 Vinny Ribas and Tony Bodoh for LeaderBridge™

Business Growth Insight: Experts can tell you countless ‘secrets’ to effective business growth. However, the most important one may also be the most often neglected.  It is the basic fact that it is difficult, if not impossible for a business owner to grow his business employing the same level of thinking that he used to start and run the business. The evidence of this challenge is plentiful. One example is that in a small business, the leader may only have his own experience and education to rely on because he has no advisors, managers or employees. However, as the business grows, the owner must delegate more and more tasks to others. This results in having to manage numerous people who are thinking about the business from many different perspectives and at many different levels.  The wise business leader studies the keys to critical thinking, constantly upgrades his business knowledge and skills, learns how to effectively delegate tasks, continually works to improve his leadership skills and never stops working on his own personal development.

Leadership Growth Insight: In order to effectively lead a growing company, you must learn how to develop other leaders. It’s easy to slip into ‘I am the only one who can do this task’ mode. However, that simply ties up your time and energy, taking you away from more important and profitable tasks. Learning to train others to do everything that doesn’t absolutely require your hands on attention is the first key step. Then it’s vital to let go and trust that the person you trained will be able to perform the tasks successfully. You will be amazed how people will rise to the occasion when you show that you trust them.

 Personal Growth Insight: Admitting that you can find someone to replace you in some of the tasks of running a business can be humbling. But it’s important and necessary to realize that there are others out there who can take over some of your responsibilities and do an adequate job. Here is one tactic that we have used in our personal and professional lives: Isolate one particular role such as marketing.  Draw a flowchart or write a sequential list of the steps you go through.  Then, identify a sub-group of steps that would be easy for someone else to do.  As an example, if you spend time researching prospective clients and then scheduling meetings with them, why not give one or both of those tasks to an assistant.  There are plenty of “virtual assistants” who can work for you a few hours each day or week setting up your sales meetings for next week while you are leading a sales meeting this week.

Tony Bodoh and Vinny Ribas are the co-founders of LeaderBridge. Tony is the author of the soon-to-be released book, ‘The Customer Within.’ He is a Fortune 150 consultant and the founder ofTony Bodoh International and VenuPlan. Vinny is the author of ‘CEO Secrets’ and has coached over 1000 entrepreneurs. He is also the founder of Indie Connect, an entertainment management, consulting and training company. Together, they have identified thirteen critical elements that successful businesses leverage in a specific sequence throughout each of four stages of business growth. Using these elements as the foundation, LeaderBridge offers a system of in-depth business, leadership and personal development training for business owners.