YOU are the BOSS and the OWNER, …………… BUT, you go home late from work, have to lock up the office, work harder than everyone else, shoulder so many responsibilities and pay everyone their salaries ……… and then even JOKE about it with the other entrepreneurs !
This article is to remind business owners that if they experience the following five symptoms in running their businesses, then something is not quite right; your business has become a JOB for you without the freedom to get what you want in life.
DO YOU actually enjoy the benefits of being the OWNER ? Surely, there are better ways of running your business. So, let’s examine the patient………………
Symptom #1 – You regularly go home late – your loved ones complain !
It is OKAY to be late every now and then; if it happens more often than not, with you being alone in the office meeting deadlines and missing family commitments, then that is most definitely, NOT OKAY. If you occasionally stay late with your team members to complete some pending works, that is okay. If ONLY you can get it done, then that is RISKY. Have you ever thought of what would happen to your business, and your family, if something were to happen to you ?
Formulate a virtual clocking system for yourself; you work a maximum of eight hours only at your business. The staff should be given specific duties which frees the boss’ s time.
Symptom #2 – You cannot take on new projects – your staff have to approve !
Employees are usually not willing to take on more work; but if a business owner shuns new opportunities because of staff disapproval, then it is a RISKY situation. Getting employees to work harder for bigger bonuses and increments while the employer’s portion remains status quo or even shrinks, is BAD business. The bottom line depends on taking on new projects and fulfilling clients’ expectations.
Growing businesses need new orders; emphasis on marketing at every opportunity with incentives for staff so that they remain motivated. Include your staff when meeting new clients; it will convince them of the necessity.
Symptom #3 – You write the minutes – your staff expect copies !
Business owners take notes so that they can remember what was discussed; if the employees don’t, it sends a signal that they are less likely to act on the tasks on hand. The useful information from the meeting would not have been absorbed. Does it bother you that when you arrive at the next meeting, the team is unprepared and waiting for an agenda ?
Set up proper meeting standards with a consistent agenda; the team should know beforehand what to prepare. Get the team to present ideas in relevant areas of the business they are responsible for, not you having to ask for updates. Assign a secretary to take meeting notes and prepare minutes.
Symptom #4 – You cancel your vacation – your staff need a break !
YOU, the business owners have to cancel the holidays because your staff have gone on sick or have an emergency; welcome to the club. When key staff does not show up for work, someone has to fill in, and that person is YOU. This person plays truant, sending YOU, the owner straight back to work. If it happens exceptionally, that is okay, but if it happens often, t, hen it does not make sense in having this manager.
It would be good idea to train a few staff to multitask at key functions; instil in them to take responsibility rather than just be doing the duty. Staff can be encouraged to submit a vacation plan for the year ahead.
Symptom #5 – You are always ‘busy’ at your business – no personal time !
You feel indispensable because there is no one else who does it like you do ? REALLY ?; ask yourself on this one. Employees like this kind of bosses who cannot delegate his work since it just means there is less to do.
The truth is, it is not your job to ‘run’ the business; rather, you should get your staff to conduct the business operations in a profitable manner.
Being in business is about having a better life and more time for yourself and the family; get rid or at least reduce the effects. There are more, but let’s work on these symptoms of EMPLOYER-REE SYNDROME first !