Every great company begins with the bold steps of a visionary leader. They elevate their companies to the top based on their knowledge, experience, and talents. However, sometimes, they limit their success to their own abilities. What do you think is the biggest obstacle for bosses who want to institutionalize their companies and make them sustainable?
Bosses are often so confident in their own abilities and knowledge that they find it difficult to delegate authority to others. They fear risking their businesses or relinquishing power and control. As their companies grow, they remain too busy dealing with everything themselves, neglecting their personal lives and gradually inching towards burnout while trying to keep up with everything.
On the other hand, employees hesitate to take almost any step without the boss's approval. They believe they should be involved in every decision the boss makes. Consequently, when business decisions are made by the boss, all responsibility falls on their shoulders. This inhibits the development of employees and lowers their self-confidence and motivation, thus leading to decreased job performance. The boss then wonders why things aren’t running smoothly without them, and why their employees aren’t taking responsibility. This is a vicious circle that is difficult to break out of.
Does this scenario sound familiar to you? If so, it's time to think about how to overcome this situation.
There is a way to transcend this familiar scenario. As the company grows, the boss must delegate some of their tasks to professional managers. They must empower employees by taking some reasonable risks, in other words, they must delegate. Because without giving authority and decision-making power, you can't hold anyone accountable for a job, and you also don't allow them to develop their skills. Steve Jobs emphasizes this crucial point by saying, "Delegation is not just about getting things done; it's also about developing people." Bosses who delegate tasks to their employees, helping them maximize their skills and potential, make the best investment they can for their companies. This contributes to turning their companies into sustainable corporate structures and furthermore, leading them to greater successes. Success lies not in holding onto control but in transferring it to the right people.
The bosses I've worked with on delegation have found the opportunity to focus on more strategic projects, business development, or new ventures to grow their companies while also being able to spend more time with themselves and their loved ones. They now admire what their employees can achieve when given authority.
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