Editor's Note: This article is the tenth in a series of twelve to lead you toward entrepreneurial excellence by our regular contributor George Hedley, owner of Hedley Construction and Hardhat Presentations. To read part nine, click here. To read part eleven, click here.
By now you are well on your way to implementing the first nine steps of this entrepreneurial excellence series. You are getting close to owning a business that works without your constant attention, direct supervision, controlling, micromanaging, and everyday decision-making. You have created extra time to do what business owners enjoy doing-leading your company and focusing priorities on things that really make a bottom-line difference.
What Are Your HUGE Priorities?
Ask yourself: "If you had a business that worked for you without you doing all the work, where would or should you spend your extra time to get the biggest return?"
___ Developing an inspiring vision
___ Setting clear targets and goals
___ Focusing on financial management
___ Developing customer relationships
___ Selling to new targets
___ Seeking better project opportunities
___ Training your employees
___ Looking for equity building ventures
___ Seeking wealth building opportunities
___ Motivating and inspiring employees
Notice that managing projects, supervising people and doing work aren't even on the list of what leaders do. Think of great companies, large and small. Excellent companies are lead by a leader who takes and makes time to be the leader instead of a doer. He or she is the seller of the vision and what the company offers to its employees and customers. Examples of this leadership style are evident at Microsoft, Dell or GE. When you get your company organized, systemized and making a profit, it's a lot of fun to be the owner. You work on exciting things, new opportunities and what really makes a difference. When you spend time doing all the work instead of leading, your company remains stuck at a level based on how much work you can do and control.
Do You See Yourself as a Leader?
When you hear the word "leader," do you think of a political leader, business leader, financial leader or yourself? Most small business owners and managers think of themselves as hard workers instead of leaders. Leadership has nothing to do with working hard or whether you own a company. Leadership is the indicator of your ability to get people to want to follow you. Leaders get results through people who achieve bottom-line targets. When asked, most business owners think they're a great leader. But most employees say their boss is not an excellent leader.
Where Do You Spend Your Time?
Business owners have a tough job managing customers and working with people to get the results
they want. But until they step up to leadership, they won't realize the full potential of their people or company. Most business owners spend far too much time doing the wrong things. They're great at doing work tasks. This causes them to focus on doing what they're comfortable with instead of doing what makes the most money or produces the highest return.
When I present my "Business Success Blueprint" seminar at conventions, I ask attendees: "Where do successful business owners spend their time, on the jobsite or at the country club?" (The right answer is the country club.) Successful business owners focus on building excellent companies. They do it by maximizing customer relationships and seeking better business opportunities. This can't be accomplished by doing or micromanaging work. Leaders realize that to hit their goals, they must spend the majority of their time being a leader and not the doer.
Take the Leadership Priority Test
My current time commitments and priorities are:
Doing Work ____ Hours per week
Controlling and Directing Work ____ Hour per week
Managing and Supervising People ____ Hours per week
Selling and Customer Relationships ____
