12th: Make your business not "founder dependent"
Jun 19, 2023
Let go of the urge to have total control of your business, processes, employees, finances, decisions, etc. Founder dependency can hamper the growth of your business. So, strengthen your processes in a way that your business can run without you (temporarily and maybe permanently). Here are some tips to help you-
- Build a team of highly skilled, reliable professionals who are capable of carrying on all the operations without your supervision, guidance, and advice.
- Choose a second in command and train him/her to make decisions and amendments to current processes as and when needed. Give him the authority he needs to run the business in your absence.
- Ensure that each member of your team understands his/her job description and knows what to do, when to do it, and how to do it. Delegate responsibilities and give them the freedom to do their jobs as they want but with a 100% commitment.
- Take offs occasionally and see how your team performs in your absence. Can they handle emergencies? Can they make tough decisions? If not, they need more training.
- Your team could end up making huge mistakes but don’t worry. They are just learning things. Stay calm and boost their confidence. Discuss what they could have done instead. You might create hypothetical situations and ask them to explain how they will handle such situations. Brainstorming can help prepare them better.
- Start planning your exit. Yes, it sounds like a crazy idea but it can help set up processes that can flow smoothly with or without you.
Reducing founder dependency can take time and a lot of patience. You may also have to struggle hard to find the right resources and trust them with huge responsibilities. But, remember that you will not be around every day. Sooner or later, you will have to pass on the responsibility to others. So, start today!
