Hints & Tips Blog
Your path to growth
We are always talking about the business leader’s role, and how they can most effectively utilise their management team to develop and optimise performance. Factors contributing to this theme that we’ve discussed in the past include how best to develop an effective management team, what you can delegate to it and how, and expanding your business once this has been carried through.
We’ve found that the key ingredient to a good management team is mutual understanding between all parties, and the most effective business leader is someone who is capable of sharing their vision. You should aim to convey your goals to key team members and be capable of engaging them so they’re totally committed to this shared goal.
If you feel as a business leader that you’ve already achieved this kind of mutual engagement, you can feel pretty pleased with yourself. But this isn’t the time to relax and enjoy the fruits of your success. Ask yourself instead whether you can surpass this level and achieve more for your business.
Is your team now capable of driving your business progress without you, or at least with less direct control on your behalf? This is a scary idea and can be a bit daunting, but it’s also exciting to think that you might be able to adopt a more effective leadership role. Now is the time to devote some attention to the future of your business, and to consider how you might begin that process.
Firstly, you should collaborate with your team in order to agree on some clear-cut objectives, and set up a regular schedule to review your progress. You should ensure that these objectives contribute directly to your business vision and delegate to your team the responsibility for attaining them. Decide where you see your business going in the future and determine how this plan will help get you there.
Secondly, you need to change your position in the spectrum from working ‘in’ the business to working ‘on’ the business, as we’ve talked about elsewhere. This means taking a step back from day-to-day tasks and redirecting your energies so as to make better use of your time. You’ll only be able to achieve effective teamwork if you’re able to delegate your mutual objectives to the team. You can then be free to devote your own time to focus on growth and development.
Finally, you should look for your next big business opportunity and work out how you might achieve it. Although at first, it seems difficult to step away from your accustomed hands-on involvement, it will get easier once you’ve made the first move. At the end of the day, you’ll have taken an important mental step, one that will offer you more freedom to lead and grow your business.
At BHP Consulting we have plenty of experience in helping to develop management teams, and we specialise in mentoring business owners. Our consultancy team has is composed of business owners who’ve all successfully completed this process and achieve greater success as a result.
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