When you start a business you always have an ideal in mind that you are reaching for. You think about the glorious future when you will be able to sit back with your feet up and delegate all responsibility, sitting back to manage everything and relax. Yet somehow it never quite works out that way - or at least not in the time frame you had in mind.
Five years, ten years, fifteen years after startup if you find yourself still working hard at making ends meet in your business it may be time to take a step back and reevaluate. Some people start a business in a particular field because they enjoy that industry, others because they think it will be a profitable field and still others find themselves inheriting a business in a field they know nothing about. Any of these situations can be profitable with the right attitude and plan.
The biggest mistake that many business owners make, no matter how long they have been in business, is working too hard in their business and not on their business. There may be times especially during the early phases of a startup when the owner must work hard to get the business off the ground. However, the ultimate goal and responsibility of every business owner is to be the puppet master working to keep everything going.
Without someone to manage the overall productivity, profit margins and strategies that the business puts in place, it is hard to reach the ultimate level of success. In fact, without delegating responsibility and taking time to work on your business, you may never be able to retire. That aside, your business will not be as successful as it could be without regular maintenance, and when the business owner is too busy working in the business to work on it there is no one to maintain the company.
When you have been working for so long it can be difficult to relinquish control, but it is in the best interest of your company and your sanity for you to do so. If you aren't fully ready to start delegating work to others, then think of it as a trial period. Set an amount of time that you are willing to relinquish control of daily job responsibilities to your employees so that you can focus on improving the business overall and managing everything. You may be surprised by just how much more efficient your business is.
Take a step back and really evaluate what happens when you give your employees more responsibility. When you take the time to figure out what works best for your business, it can catapult your results to the next level. Being open minded about how you do business and willing to delegate some responsibility can change your productivity, profits and your overall quality of life.