Trying to control everything in your business is never a good idea.
As a business owner, the urge to micromanage is really strong for a lot of us. You put a lot of time and energy into building your business, and as such, you may have the desire to have a hand in everything surrounding your business. But this desire to control everything and the micromanaging that follows can have some serious, long term effects on your business and your ability to be successful. So today, I want to discuss the three things that you may be sacrificing because of your inability to let go in your business.
1. Team Growth
You spent a lot of time finding and hiring good talent for your team, but the urge to micromanage their every move can really harm the relationship and leave you scrambling to find a replacement. Let's say that you hire a new marketing director, with a rock star resume. They have helped other businesses just like yours meet their goals and they are good at what they do. But a week into their employment, they find you questioning their every move. A month or two later, you may be hesitant to give them that big marketing project because you fear letting go...and six months in you find yourself going in and redoing all the creatives that they put together because you feel that you could do it better. Do you think that your marketing director feels valued in the position? No. They will not only start to doubt themselves and their abilities, but they may begin to question their place in the company and the value that they create. Which can lead to them seeking employment elsewhere.
2. Growth Potential.
If you must have a hand in all parts of your business, where does that leave your company if you have to take a leave of absence for personal or medical reasons? If the company relies on you for everything, you are more vulnerable to problems down the road. Not to mention the fact that without the help of your team and outside counsel, you are likely to grow at a much slower rate than your competition who is open to outside help.
3. Your Mental Health.
Being in control of everything in business might feel good in the short term, but in the long run it can lead to a lot of stress and anxiety. Your business revolves around you, and as such you are the one to handle all the problems and issues that arise on a daily basis and that can lead to burnout pretty quickly. You can quickly find yourself working 60, 70 or even 80 hours weeks and missing out on time with your friends and family. And overtime that leads to burnout.
Trying to control everything in your business is never a good idea. Not only will it limit your ability to grow and scale, but it will do so at the sake of your mental health. Instead, focus on hiring team members that are competent that you can trust to hand off tasks and routine projects that you can focus on the bigger picture items that can help take your business to the next level.