Why do 80% of new businesses fail in the first five years? In large part, this is due to the business owners and entrepreneurs trying to do and control everything themselves. Matt Chiaradonna is going to teach you about how trying to do everything yourself places limits on you and your business, why it’s critical to have a plan to manage potential growth, and how to actually and responsibly let go of the reins in order to find greater success.
- Business leaders do not need to be closely involved with every single task or situation that may arise in their business. That over-involved/micro-managing leader will burn themselves out and limit the growth of their company.
- A single person only has so much capacity to learn and if they are attempting to do everything in the business, this places real limitations on their ability to grow and scale.
- Contrary to popular belief, you can find people that you can teach, trust, and delegate to. Write out criteria for the ideal candidates and which strengths they should have to complement your strengths to make the whole company more capable.
- There are four steps to avoid becoming this kind of leader: 1. Know yourself and why you got into the business; 2. Build a team based on defined criteria; 3. Follow your flow; 4. Let go of the reins and delegate.
- As you are creating your plan for the business and how it will grow, remember why you got into it in the first part and think about what you want to get out of the business and set that as a goal.
- When building your team you have to make sure that your team members want what you want. If that is the case, they don’t have to be very similar to you in other ways, it doesn’t matter what they look like, sound like, or like to do.
- In order to delegate to members of your team and find success, you have to take the time and resources to develop your team. You need to train people so they can train others so you can grow at scale.
Quote of the Show
- “If your plan is to grow, you have to start earlier giving up those controls, giving up those reins, and finding people that you can lean on and delegate to in order to get that out of your hands, so you can grow to a larger size.” - Matt Chiaradonna
- Outwitting the Devil by Napoleon Hill
- LinkedIn: https://www.linkedin.com/in/matt-chiaradonna-883a95230/
- Email: firstname.lastname@example.org
- Company Facebook: https://www.facebook.com/jcfencenorthshore
- Company Instagram: https://www.instagram.com/jcfencenorthshore/?hl=en
- Company Website: https://www.jcfencenorthshore.com/
Ways to Tune In:
- Apple Podcast - https://podcasts.apple.com/us/podcast/leadership-in-action/id1585042233
- Spotify - https://open.spotify.com/show/2t4Ksk4TwmZ6MSfAHXGkJI
- Stitcher - https://www.stitcher.com/show/leadership-in-action
- Google Play - https://podcasts.google.com/feed/aHR0cHM6Ly93d3cubGVhZGVyc2hpcGluYWN0aW9uLmxpdmUvZmVlZC54bWw
- Amazon Music - https://music.amazon.com/podcasts/4263fd02-8c9b-495e-bd31-2e5aef21ff6b/leadership-in-action
- YouTube - https://youtu.be/VCPQ2z9k0yg