Ready to start your own business? Or purchasing a company and launching with a re-branding and new business model? Here are five logical steps to be the boss everyone admires and your business the niche envy of your competitors…
Be the boss everyone wants to work for.
You might have one idea of what it’s going to be like when you start a business, only to find that the reality is majorly different. Why would that be the case? Often it’s because you didn’t really have any idea of what kind of boss you wanted to be and what kind of ship you wanted to run.
How to be the boss? In this article, we’re going to look at how you can stop spinning your wheels and become the motivator, direction-setter, and awesome business leader you want to be.
Stop Working In The Business
The first and most important step you need to take is divorcing yourself from every single task. You may have pride in your abilities that helped you launch your business, and they will always be relevant. However, you will need to start transitioning to a more hands-off role.
Learn to start delegating your responsibilities, even outsourcing where and when you can, so your role is focusing more on planning and decision-making. The organization needs to have someone at the helm taking the long-term view, and that really should be you.
Give Yourself Freedom To Run It
Simply put, if you are too tied to the business, then you may not feel you have the freedom to manage it as you might want. When the business is tied too closely to you as an individual, then you might feel too responsible to take a “hands off” approach.
That said, it’s worth your consideration to take the steps to transition and form an LLC. An LLC limits your liability as the owner. When you are less personally liable for the business – legally and financially – you have more freedom to allow other managers in and to take the role of a president or CEO, instead.
Become The Leader Of Your Team
A big part of the role of any boss is the leader of a team. To that end, you need to focus on making sure that:
Are at the heart of your priorities. Gaining their feedback on:
- How they work
- Creating a productive and safe workplace
- Protecting their rights
- Creating an excellent team
You also need to take responsibility for their collective failures while still holding individuals accountable for their actions.
Setting The Direction Of The Business
If you’re leading your team, you set the direction. A good business plan can help you find your way initially, but after that, you need to regularly review how your business is going to continue growing.
One of the biggest problems with small businesses is a failure to scale as a result of poor long-term planning. Remedy that by designating your scaling plan from the beginning. Know how you’re going to grow, and prioritize running your business to support those plans.
Be The Boss … Just Do It!
Taking a position of authority in your business is essential if you want to succeed. You have the tips above to help do just that. But never forget the real driver of the ship…
One of the best “be the boss” quotes from Sam Walton to keep in mind:
There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.