Like it or not, the biggest problem your company faces may be you.
Many businesses have cash flow problems. Others can’t attract and retain "A" players. Some have trouble landing new customers or resigning existing ones. But once you exhaust all the other excuses for your company’s failure to grow, look in the mirror and recognize that you are the problem.
Many senior decision-makers unwittingly become the bottlenecks in their businesses, funneling too much day-to-day information through their personal filters. By doing so, they effectively stunt their company’s growth.
If you have too many direct reports waiting for answers to their questions about the smallest of issues within your company, you are the impediment to your company’s growth.
Unclogging the bottleneck, however, is easier than you may think. But to do so, you must be willing to set aside several tasks you think need your attention today.
First, and most important, prioritize.
As the bottleneck, to you, everything is critical. The reality is that some things are not. Determine which tasks are most important for you to handle. List only the things that no one else in the company could be responsible for – regardless of whether you have people currently in a position to handle those duties. Then, as painful as it may be, delegate the rest.
Identify existing resources that can be used differently, key personnel to whom you can assign new tasks or job duties. Be prudent. You may need to reorganize entire departments of your company.
Be methodical about your actions and bring others into the decision-making process. Your key personnel can be extremely helpful.
When you’re finished, you will unplug the bottleneck and allow the ideas that will help your business grow flow freely. At the same time, tasks that had previously taken up your time will be in the hands of those more suited to deal with them in a timely manner.
As your company begins to grow, be ready to revisit this process again as you move to the next level.
One final thought. This process requires a leap of faith – you must be willing to accept that you are the problem and trust your employees’ abilities to get the job done.
Otherwise, your company is destined to remain stagnant and your competitors will most certainly pass you by.
