Five Questions Every Business Owner Should Ask
Many business owners can’t imagine stepping away from their business for an entire month. It seems insane, but what if you had to?
Whether it's an unexpected illness, a family emergency or simply taking a well-earned break, it's worth asking yourself an important question: Would your business continue to thrive without you, or would everything grind to a halt?
For many business owners, the answer lies somewhere in the middle. The business might keep going, but perhaps only with constant phone calls, emails and messages seeking approval.
This is a reflection of the systems within the business themselves.
At ACTIONCOACH, one of Brad Sugars' guiding principles is that "being in business should give you more life."
Most people don't start a business to create yet another job for themselves. They start one to enjoy greater freedom, build something of value and create opportunities for themselves and others.
With the right systems, processes and people in place you can create systems that run by themselves.
Here are five questions to help you assess where your business is today.
1. How dependent is your business on your decisions?
This is answered by looking at how many calls, emails or messages do you answer each day that someone else could deal with? Does your team need your approval before making routine decisions?
Are you the bottleneck for customer issues because every decision comes back to you?
If you answered yes to these, your business may be relying on you instead of clearly defined systems.
Try this: For one week, make a note of every approval you give and then reflect on which decisions could be supported by clearer guidelines, documented processes or delegated authority?
Well-designed systems give people the confidence to make good decisions without waiting for permission.
2. What does your diary tell you?
Your calendar will give an honest picture of how your business operates. If you look back over the last four weeks and highlight meetings only you could attend, tasks that could have been delegated and operational issues you became involved in.
You might be surprised at how much time you’re spending on things that don’t require your presence or expertise.
Try this: Choose just one recurring task each month to delegate. When you handover, document the process so it becomes repeatable.
Over time, this will free up your time and create consistency.
3. Do your processes live in people's heads?
Imagine one of your key team members handed in their notice tomorrow.
Would someone else know how to handle all the tasks that team member is responsible for?
If the answer is "probably not", you've identified an opportunity to strengthen your business and your team as a whole.
Try this: Each week, choose one area of the business and ask, "If someone new joined tomorrow, could they follow a documented process?" If not, create one.
Your systems don't need to be complicated. A checklist, simple guide or short video can make knowledge easier to share, improve consistency and reduce risk.
4. Is your team confident as well as capable?
Having talented people is one thing but the confidence to make decisions on their own is entirely another.
Who could step up if you weren't there? Who comes to you because they're unsure, rather than unable? Are mistakes treated as learning opportunities or reasons to avoid taking initiative?
Strong systems help create confident teams because expectations are clear and people know how to approach different situations. Confidence in their own decision making is also imperative for successful teams.
Try this: The next time someone asks how to deal with something, ask, "What would you do?".
This encourages independent thinking, builds confidence and helps people take greater ownership of their role.
5. Could you really take a month off?
If you were completely unavailable for four weeks, would you be confident that your team could manage everything without you?
Could your team lead the weekly meetings, maintain customer relationships, oversee cash flow, deal with suppliers or make decisions when the unexpected happens?
If too many of your answers begin with "I'd have to...", you've identified where your business still depends on you.
Try taking a break where you’re totally offline as an experiment and when you return, you’ll note areas where bottlenecks occurred and these are the areas you need to focus on creating stronger systems that could make a difference.
As Brad Sugars, founder of ACTIONCOACH, says, "Being in business should give you more life." By putting the right systems, processes and people in place, you're not just building a stronger business, you're creating the freedom to enjoy the life you started it for.
Learn more in Instant Systems by Brad Sugars.
ActionCOACH Harrogate, Unit 1, The Innovation Centre, Hornbeam Park, Harrogate, HG2 8QT
01423 223 826 mikemoss@actioncoach.co.uk