It\u2019s no secret, most business owners at one time or another feel like a prisoner to their business, employees and customers. Their business and life feel\u00a0out of their control.\u00a0 They feel trapped.\u00a0 But what are the common causes of such business owner bondage?\u00a0 How do the chains get tighter and tighter?<\/p>\n
Based on the thousands of business owners, managers, and professionals The Growth Coach franchise system serves each and every year,\u00a0the five most common causes of business owner imprisonment are as follows:\u00a0 (1) busyness, (2) technical tendencies, (3) ineffective leadership and delegation, (4) inadequate or missing business systems, and (5) growing business complexities.<\/strong><\/p>\n Busyness:<\/strong> Technical Tendencies:<\/strong> Ineffective Leadership & Delegation:<\/strong> Inadequate or Missing Business Systems:<\/strong> Growing Business Complexities:<\/strong>
\n<\/strong>Many owners confuse activity with accomplishment.\u00a0 They confuse busyness with results. Hard work with smart work.\u00a0 Perspiration with purpose.\u00a0 Efficiency (doing things right) with effectiveness (doing the right things).\u00a0 Instead of working smarter, many owners hold tight to the delusion that working harder and harder is the solution.\u00a0 They keep trying to shift into higher and higher gears.\u00a0 The more the business grows, the harder they work, the more imprisoned they become.\u00a0 No matter how much energy you expend, however, wrong strategies inevitably lead to poor results \u2013 less freedom and more headaches.\u00a0 Sadly, many of these owners confuse working smarter (less hours but focused on more important matters) with laziness. As such, they would rather be busy than developing better ways to be productive.<\/p>\n
\n<\/strong>Your habits determine your destiny. Too many entrepreneurs are former technicians now masquerading as owners.\u00a0 They think they are entrepreneurs, but they don\u2019t act that way.\u00a0 As\u00a0one-time accomplished technicians and doers (i.e. painters, caregivers, etc.), they have a hard time letting go of such expertise and familiarity.\u00a0 They remain trapped in a technical comfort zone, mindset and work approach.\u00a0 While such technical expertise is sufficient for performing\u00a0a job, it is\u00a0totally insufficient for building and managing a business.\u00a0 Moreover,\u00a0such owners\u00a0fail to develop the visionary, strategic, and leadership skills necessary to run a successful business.<\/p>\n
\n<\/strong>Far too many small business owners are by default small leaders.\u00a0 Instead of leadership, they excel at doer-ship.\u00a0 They are micro-managers that like to touch and control everything.\u00a0 They trust no one but themselves.\u00a0 They believe \u201cno one does it as well as me.\u201d They seldom delegate, if at all.\u00a0 They mistake busyness for business leadership.\u00a0 Instead of thinking and leading like owners, most think and behave like employees.\u00a0 Instead of reflecting and planning, they excel at sweating and doing.\u00a0 They act like they have a job instead of own a business.\u00a0 To lead effectively, one must trust others.\u00a0 Not developing their leadership potential costs them dearly, less freedom and more headaches.<\/p>\n
\n<\/strong>A vast majority of owners don\u2019t know how to design a new business or re-engineer an existing one to be more systems-oriented and professionally equipped with plans, procedures and policies.\u00a0 As a result, entrepreneurs don\u2019t create and document the processes (specific and repeatable ways to do something), procedures and policies that allow for well organized, smoothly running, easier-to-manage companies.\u00a0 Without defining and documenting the specific work that needs to be done, owners can\u2019t delegate effectively and escape from the technical trenches.\u00a0 As a result, owners are forever feeling \u201cout of control.\u201d\u00a0 Tragically, most entrepreneurs have unknowingly, reactively and accidentally created an owner-centered and owner-dependent company.\u00a0 They are trapped!<\/p>\n
\n<\/strong>A growing business with its increasing number of customers, transactions and problems will eventually crush a business not properly designed and prepared to handle such growth.\u00a0 Without effective leadership and adequate business systems (an integrated web of processes), a growing company does not stand a chance.\u00a0 Growing pains are unavoidable.\u00a0 Producing predictable and consistent results will be nearly impossible.\u00a0 By failing to plan for growth, they are\u00a0by default planning to fail.<\/p>\n