Don’t Stress Over Control

New Entrepreneurs like to maintain control.

However, understanding and managing their sphere of “control” and not stressing out over it is crucial in growing their businesses.

When Entrepreneurs start their businesses, they prefer to have total control over everything that goes on in their organization. All decisions must be made by them and nothing can be done without their say so.

As the business grows, the Entrepreneur is reluctantly forced to give up some control and delegate tasks to others. He or she still wants to know what happened. When successful, the Entrepreneur has to transfer responsibilities to a secondary level of leadership. In that stage he or she cannot keep track of all details.

At every stage of the growth of the company, the Entrepreneur reduces his/her sphere of direct control. This is very difficult for most Entrepreneurs, especially in the first business venture.

Building a stong secondary leadership team, guiding and mentoring the team, and periodically monitoring their accomplishments towards specific objectives and the overall Mission will reduce the anxiety of the Entrepreneur. If the Entrepreneur cannot learn to reduce his/her sphere of control, it will create stress that might be detrimental.

When things fall outside your sphere of direct control (to lower levels of the organization), resist the temptation to wrest such control or stress about it. Focus on the bigger picture and Mission.

Ravi Patel

Published in: on October 10, 2017 at 4:10 am  Leave a Comment  
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Trusting Others

Entrepreneurs in the beginning like to be in “total” control. It is hard for them to acknowledge that other people can do as good, if not a better, job than they can.  They also feel that if they share their ideas with people, someone may steal them and take advantage.

It is all about trust. However, it is less about trusting other people, but more about not trusting themselves enough.

Entrepreneurs take significant risks in the business sense – that is embark on new ideas, in an uncertain environment, with a not fully developed product or service, no ready customers, lack of adequate funding and so on. They are excellent at that.

When it comes to relying on other people, their risk-taking is limited. While they may trust family members, it is difficult for starting Entrepreneurs to trust outsiders. So what is the problem?

The issue could be that Entrepreneurs do not have sufficient trust in themselves to identify, train, and coach the right people to delegate key responsibilities. Sometimes as loners, people management skills are the least ones they have developed. This often creates a situation where Entrepreneurs end up performing all key tasks and stretching themselves too thin.

Entrepreneurs need to train and then trust themselves to make appropriate people decisions so they can then trust those people to do the things right. The sooner they learn to do that the faster their growth and success.

Ravi Patel

Published in: on April 21, 2015 at 3:56 am  Leave a Comment  
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What Comes After Delegation?

Entrepreneurs cannot do everything themselves in their companies so they have to assign projects, goals, and objectives, or collectively tasks to various individuals.

Do you have a good system of tracking those tasks? If so, that is a step in the right direction. If not, you need to get a system or process that works for you.

But, more importantly, do you follow-up on the assigned tasks? Do you have a system to track the progress on the various items? Do you have a reminder system?

Assigning tasks is not enough. Monitoring the progress on the completion status of these tasks with regular follow-up is crucial. Otherwise you are sending a message to the employees that you are not going to hold them accountable.

While some employees will take the initiative to report on the progress of the assigned tasks, you need to have a system to hold all people accountable.

Follow up is critical when you delegate tasks to others. Otherwise, don’t always expect results.

Ravi Patel

Published in: on July 15, 2014 at 3:44 am  Leave a Comment  
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