Let go

William Wang
founder and CEO, VIZIO Inc.

William Wang founded VIZIO Inc. in
2002 with $600,000 — since then, the
flat-panel TV juggernaut has grown to
more than $2 billion in sales.

To effectively manage a fast-growing company, not only must you build
a strong, balanced team but you also
need to properly utilize that team.
Wang, who was featured in the June
issue, says the only way to keep your
company afloat — and your sanity
intact — in the face of tremendous
growth is to delegate as much as possible.

“I’d like to delegate everything,” he
says. “That’s my goal; my goal is to
make sure I’m irrelevant to the company. That always has to be my goal,
and I’ve been working toward that.”

Letting go of so much responsibility
can be difficult. But Wang says you
have to remember that your employees need to feel responsibility, too,
and, in some cases, they may have
better insight on a matter than you
do.

“If a certain person is really good at
something, we should have faith in
that person doing that certain task
and vice versa,” he says. “If you’re
not good at something, somebody
else has to make up your weakness.”