Companies don’t remain in stasis for long. Eventually, their circumstances change, and they have to move with the times. Countless businesses have done it in the fast. And so long as the world changes, they will continue to do so in the future.
What a lot of entrepreneurs don’t realize is that this kind of thing is a matter of necessity. Companies that don’t change their approach now and again find themselves disrupted. And that almost always means that they go out of business.
Once your enterprise reaches a certain size, it can be scary to take the next step. Employing a dozen people you know well seems easy. Hiring hundreds of people spread across dozens of locations feels like a much bigger task.
Learn To Delegate
Once a business reaches a specific size, the buck must necessarily stop somewhere before it gets to the founder. People lower down the org chart have to be able to make decisions independently, instead of running things past their superiors.
A lot of entrepreneurs, however, find taking this leap scary. The idea that somebody else could look after their baby doesn’t seem psychologically possible.
With this one, you just have to bite the bullet. Every business leader eventually has to give up some control of their company. That’s the only way to make it work over the long-term.
Inhabit A New Psychological Space
A lot of people aren’t ready for success when it arrives. They have an unconscious belief that their enterprise can only be “yea big,” and that anything beyond that is pie-in-the-sky stuff. Then, when their dreams start coming true, they don’t know what to do. It feels too big to manage, so they shut down.
When it comes to business, you either go big or go home. Thus, you have to be prepared for glory ahead of time, even if you think it’s unlikely. That means putting yourself in the mindset that says that you’re going to accept whatever success comes your way, no matter how terrifying it might seem when it eventually happens. You need to break out of your safe psychological space and allow yourself to fall into a bigger, grander one.
Why do so many companies hire an outsourced accountant? Simple – they need help.
Remember, businesses aren’t about doing everything well. Instead, they’re about adding value at the point of need. Your customers don’t give a crap who does your accounts or runs your IT system. All that matters to them is the quality of your products and services. If they’re good, they’ll continue buying them. If they’re bad, they’ll go to your competitors.
The trick here is to recognize where you can and can’t add value. If you’re better off farming off your marketing to somebody else, then do that. The same goes for your building management, fleet operations, or anything else you don’t have specific expertise. Once professionals perform those tasks, you’re free to pursue the value you offer to the fullest extent you can.