Do you feel like the owner of a company or do you feel like an employee? Are you at the mercy of a never ending task list and a boss (you) that is unforgiving and expects you to do everything? Do you feel like you have to manage every single task and responsibility for your business, or are you comfortable as the manager and the leader?
If you feel like an employee, it’s time to shift gears. You and your skills and knowledge are way too valuable to be wasted in this fashion. As an entrepreneur there are three basic functions that you’re required to fulfill. They are:
Planning means you spend some of your time identifying goals, objectives, methods, and resources needed to carry out responsibilities. You also decide the dates for completion of tasks and projects. Many experts recommend you spend at least 50% of your time planning your business.
Organizing means you’re allocating, leveraging, and configuring resources to accomplish your chosen goals and objectives established during your planning processes. This is where you will decide what to delegate, whom to delegate it to and you’ll create your systems. Organizing doesn’t mean that you control the situation or take over the task.
Organizing also means monitoring and adjusting resources and systems to help achieve goals. It means putting metrics in place to assess progress and to be able to adapt. In addition to organizing projects, entrepreneurs are in charge of organizing systems and goals related to financial management and legal compliance.
Leaders establish a direction and motivate their team towards that end result. Leaders need to have systems in place to evaluate progress, to re-motivate, and to make sure everyone is on track. As an entrepreneur your business vision will play a large role in not only identifying your goals and objectives, but also keeping your team motivated and inspired. Contractors can get very excited to work with companies that are dynamic and focused on providing value.
As an entrepreneur your priority is to ensure that you’re organizing, planning, and leading your company. If you’re focusing the majority of your time on the day to day details, you’re an employee of your own company.
Step back and take a look at what you want for your business and your customers. If you have big plans and dreams, then it’s time to step back into the role of entrepreneur. Delegate and automate the tasks that keep you from your role as an entrepreneur. Create systems that support you to increase your cash flow and realize the vision you have for your business.
[Tweet “Do you feel like a business owner or more like an employee of your own company?”]