FIVE THINGS SMALL TO MID-SIZED BUSINESSES NEED TO DO TO SUCCEED: PART IV

#4)   Trust your management tools, trust yourself, trust your employees to carry out your vision!

All too often entrepreneurs continue to be micromanagers as the number of people they employ continues to grow. Understandably we, (yes we, I’ve been an entrepreneur for most of my adult life which is why I love my job: helping entrepreneurs be successful) tend to want to know what’s going on at all times, give our two cents on all decisions, and make sure that everything that goes out the door could have come from us. We need to let go of some control!!!!! We need to trust the management tools we have in place, the ones we set up or had help setting up from an advisor. If done right, these tools will give us the information we need to be on top of the most important issues in the organization. We need to trust ourselves; trust that we set up correctly and can use the tools we have in place; trust that we hired the right people for the right positions. Finally, we need to trust that the people, the most valuable assets in the company, will do what they do best, what we hired them for!

Tip: Put systems in place! For each employee or department depending on how big your organization is decide what key information you need that is not already captured in your KPIs and other management tools. It can be related to specific project updates, routine functions, anything that will help you do your job; be very specific, but don’t micromanage. Next set up a system that will deliver the information you need which can take the form of meetings, reports, conference calls; whatever works for you and the person reporting. Remember, listen and give input but don’t tell them how to do their job because you hired the right person in the beginning! Right?

Geoff Robertson, MBA, Entrepreneurial Advisor
Davis & Hodgdon Associates, CPA’s
July 2011