One of the most important decisions an entrepreneur needs to make to get to six figures and then to move on and create a multiple-six-figure Dream Business is to release and let go.
This mindset challenge is one that trips up far too many entrepreneurs, and it is essential that you climb and conquer this entrepreneurial mountain if you truly want to create a dream lifestyle.
In the beginning, most entrepreneurs start their businesses on day one, armed with an idea, a skill, or talent they want to bring to market and build a business. Whether you’re a dentist, lawyer, accountant, or web site developer, you have a talent that solves problems, provides value, and fills a need. That is the essence of a successful business.
But something happens between the time you get your business cards and hang out your shingle and when your growth becomes impeded because you’re not willing to release and let go.
In most cases, I think it’s fair to say that every entrepreneur initially wears many hats running a small business. In addition to your “skill” hat (whatever you do), you also wear the hat of other personnel within a typical company such as the accountant, customer service rep, delivery person, janitor, head of marketing, legal advisor, and about a hundred more!
To be clear: recognize that every big business starts small. As sales grow, so do the demands for the time and attention of the entrepreneur and business owner. The stumbling block for many entrepreneurs occurs when they hold on too long to the notion that they can do it all – the lean and mean approach.
One common expression you’ll hear around the entrepreneurial water cooler is, “I can do it faster, cheaper, and better than anyone else.”
Do these words ring true for you? Have you actually said them to someone? Or at least thought them on more than one occasion?
And every time I hire someone new, my gut twinges slightly, so I ask myself two really important questions:
- Is this new person truly essential to my company and necessary for our continued growth?
- Will this new person either free me up or free up some other key person on my team, so we can implement more and move this business forward at a faster rate of speed?