Business

3 Steps to Creating a Self-Managed Company

selmanagedcompany

At first the entrepreneur does everything themselves. They wear all the hats in the company. But the next stage of growth comes when the entrepreneur learns to let go of being personally involved in every aspect of the business. When they learn to delegate everything accept for what they do best.

“When you learn to let go – you grow” Jean-Luc Boissonneault

Here is how you get there:

1. Build a team of superstars

If you want a self-managed company you need to stop doing all the things that someone else could do better than you and focus solely on your greatest skill. You can find this out by self-reflecting, by asking someone close to you or by doing tests like Strength Finder 2.0.

Once you know what your unique skill is – you need to create a team of people who are passionate and skilled in the area’s you’re not passionate about to free you to do only your best work. When you have the right people doing work they they care about, you will be able to trust them. You won’t need to micromanage them because they are doing work they re good at. Once you are free of the day to day details, you will have space to think at a higher level.

2. Work on your life balance

Once you have a team you trust doing the right work it will free up your time. You go from being too busy to accomplish anything to having all this spare time. It’s now time to work on your life balance. Becoming an effective leader is much more than the work you do at work. A true leader sets the example not in their words but in their actions. There’s 5 aspects to mastering life balance which includes health, relationship, emotion, time and finance. Work on this to allow you the freedom to create the life you’ve always dreamt of.

3. Work on innovation

It’s tempting at this point to kick back and relax but we feel our best when we are overcoming challenges and your key role as an entrepreneur is to set a vision for the company and to lead everyone towards it. With this new found freedom and autonomy over your life you will have the “mind space” to focus on innovation.

With a team of talented people taking care of the business you will have the time to do what you love including innovating, testing things that add more value to your customers, your people and your company.

The goal is to get yourself in a position where you are free to do your best work with people you love in a way that keeps your business—and life—endlessly fascinating and motivating.


Also published on Medium.



You Might Also Like