Why the leadership mindset must change to support the next stage of growth
Your business is successful. Congratulations! That’s a milestone not every business achieves. But now that you’ve made it… what comes next?
Now’s the time to start thinking about what it will take to position your business for sustainable and ongoing growth. What got you to this initial success won’t carry you forever.
One often-overlooked aspect of this strategic transition is the leadership’s mindset. Many businesses hit a plateau in growth because their leadership doesn’t evolve with the business; sustainable growth requires not just a smarter strategy, but a shift in mindset.
Recognizing the transition point
First things first: how do you know when it’s time to realign your leadership mindset? Now’s the time to check for friction points, bottlenecks, and burnout.
- Are key decisions piling up on your desk? Or that of another person?
- Are there frequent miscommunication issues or cause for rework?
- Are your high performers not performing, or is there an increased rate of turnover?
These are just a few red flags that it might be time for some adjustments.
Redefining the leadership mindset
Once you’ve identified the red flags, what do you do about it? And does your leadership really play that big of a role in these issues?
- Break the Bottleneck: Empower your leaders with clarity, enabling them to make informed decisions and drive the business forward.
- Over-communicate: Make sure your teams know the vision, key performance indicators, and friction points so that they know their roles and what they’re working toward.
- Re-engage: Make sure your teams know their health and wellness are the priority. Support healthy boundaries and rest – people can’t pour from an empty cup.
Remember, your people are looking to you! It is up to you to model the changes you wish to see in your organization.
Build a leadership team that scales
You may be the top boss, but it’s a good idea for you to not be the only leader. Surround yourself with a reliable team that can help handle details and get you out of the weeds.
- Hire for Capability: Identify your strengths and weaknesses, and find people who can support those areas.
- Clarify Roles and Expectations: Your people need to know what they’re responsible for and what needs to be reported on.
- Develop Your People: Some of the best hires may be people you already have. Invest in their growth and identify your standouts.
Once you’ve got your team, resist the urge to micromanage – you should not be the go-to person for solving every problem. Empower your team to take ownership – and lead!
Turn vision into structure
You’ve got the people in place, now it’s time to get the house in order.
- Use Frameworks for Focus: Make your metrics visible. KPI dashboards, for example, are a great and easy way to track and monitor how processes are working.
- Turn Vision into Process: Identify where in your business your operations are influenced directly by your vision. Is it time to make some cultural changes? Add more manufacturing lines? What will it take to make your vision real?
- Review and Refine: What systems work now won’t always. Your business is a growing thing – your systems need to grow too.
Your time is best served focusing on the forest – let your team focus on the trees.
It’s ok to let go
Some business owners equate having a business to having a child; and just like having a child, it can be hard to step back and not do everything for them.
- Redefine Your Role: Who are you if not the go-to problem solver? Now’s the time to figure out what it is you need to focus on to keep your business growing to new milestones.
- Celebrate Wins: Your teams’ successes are your successes!
- Stay Connected, Not Controlling: Yes, let your people handle what they need to handle – but it’s ok to stay informed and aware. Let them check in with you for alignment, but not approval.
Whether it’s your child or your business, don’t be afraid to let them stumble and figure out how to get back up.
Lead the next chapter of growth
Growth doesn’t just require more from your business – it requires more from you. Good enough won’t cut it – now’s the time to buckle down, identify areas of opportunity, and get out of the weeds.
