Building a business is similar to raising children. As a parent, you should remember that your children are just passing through your life on the way to their life. At some point, you must let them go.
It should be the same with your business. You should build your business with the goal of having it demand less and less of your time until the day when it no longer needs you on a day-to-day basis.
With children, if you continue to direct their lives after they leave the nest, you’ll cause all kinds of trouble. You could possibly ruin the relationship, by not allowing them to develop in their own way.
If you insist on controlling every function of your business, you will stifle the growth of your employees. They won’t be free to be creative and productive, because they will be looking over their shoulder wondering if you will approve or second-guess their every move.
“But it is my business!” you say.
Yes. It is your business, just like they’re your children. Don’t you want your children, and your employees and your business, to stand on their own and grow to their fullest potential?
If so, here are four things you need to do.
1. Create reliable procedures and processes (systems) that empower your people and your business.
2. Build a team. You need talented and responsible people, but with no single person your business can’t function without. This includes you.
3. Establish controls that let you monitor your systems and your team. This puts the business in control. Not you. It also frees you from the self-employment trap.
4. Remove unnecessary barriers and constraints, allowing your business to strategically accelerate growth.
Your business, like your your children, should flourish on its own, with just occasional visits to provide support.