When the business owner replaces himself with people who are as smart, or hopefully smarter than himself it will be just like getting an upgraded laptop--it works better, faster, and can do more things.
Austin, TX. (PRWEB) February 20, 2012
Losing a little bit of control can be a very good thing, explains the recent Absolute Wealth newsletter, and it can also be a very profitable move. Many businesses are unable to grow, reveals the recent Absolute Wealth Newsletter, because the business owner wants to control every aspect of the day to day workings of the business. This mindset, the recent newsletter says, comes from the fear of losing control by the business owner, however, the business owner must overcome this mindset for business growth.
So, the recent Absolute Wealth newsletter says the steps necessary to begin to reorganize the business for growth will involve two factors: People and task delegation. Obviously, good people are important, otherwise everything falls apart, explains the recent Absolute Wealth newsletter, so the business owner needs to replace himself at least three or four times with new and capable people in order for growth to occur. The business owner needs to distinguish crucial but minor tasks in the business from crucial and major tasks, reveals the recent Absolute Wealth newsletter.
The reason to make that distinction, the recent Absolute Wealth newsletter reveals, is that it allows clarity in terms of who the business owner needs to hire, and what the business owner is hiring them to do. For example, if the business owner is handling clients after the sale, this is wasting the business owners time and talent, reveals the recent Absolute Wealth newsletter, so hiring customer relations people, will free up the business owners time and the clients will be getting better care faster. So by determining the crucial but minor tasks, the business owner is able to identify what he needs to have done, and therefore hire the right people to do it, explains the recent Absolute Wealth newsletter.
The second part of that distinction, crucial and major tasks, takes a little more finesse and strategy, but the basic concept is the same, explains the recent newsletter. The recent Absolute Wealth newsletter suggests, to consider the business owners replacements at the executive level just as he would assess a business opportunity. The recent newsletter advises to use a cost-benefit analysis, and determine where the biggest need and biggest return would be for each of the executive functions that he currently performed in his work. Once the business owner does this, he is able to prioritize his needs, identify the necessary characteristics of potential candidates, and then begin the search for replacements advises the recent Absolute Wealth newsletter.
When the business owner replaces himself with people who are as smart, or hopefully smarter than himself it will be just like getting an upgraded laptop--it works better, faster, and can do more things, explains the newsletter, and the business owner still has control of what it actually does. Putting it in these terms, the business owner is typically much more comfortable with the concept of duplicating himself, explains the newsletter and allows the business to grow, rather than being paralyzed with fear that he would "lose" control.
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