While there are many skills for an Owner of a business to develop, in this article we will go into the top 6 that when applied will enhance all other skills.
The top 6 skills are:
- Letting go
1. Mindset for growth, expansion, and scaling
Our universe is entropic. This simply means if you’re not growing, you’re shrinking. If you’re not expanding, you’re contracting. In an environment where it is all too easy to fall into the trap of shrinking or contracting oneself a trained owner always finds a way to grow, expand and scale him/herself and their business organization.
2. Planning for the future
A business without a plan is like a ship without a rudder… an Owner that doesn’t plan, plans to fail – it’s as simple as that. In our company, we call planning “future design.” In the future design process, we take an in-depth look at three types of planning: big picture planning, next-level planning, and ground-level focus planning.
Listening is a skill that is a lifelong practice. We often say in our company “An owner, is a beginner practicing the basics forever.” Listening is one of those basics. When you practice something it is an acknowledgment you can improve it forever – and never reach a pinnacle. There is always the next level – and the level thereafter. Listening is a skill that compounds year over year and increases an Owner’s ability to tune into themselves, their team, and their market to be able to provide what’s needed and wanted.
4. Hiring exceptionally well
The business works when it’s an organization. It is not about self-employment. It’s about a system that provides what’s needed and wanted. Hiring well for that organization is essential. In today’s “contactless” environment, the outdated hiring methodologies of the “revolving door” are no longer sufficient. In our group, we are partnered with a company that provides a world-class hiring technology that is the most accurate we have ever used. We provide access to this technology to all of our clients as a way to troubleshoot employment problems, positioning people correctly, promoting within the company, and effectively hiring the best talent available in the marketplace.
Being a leader means you are sharing the company vision and the future it speaks of in a compelling way to those within and outside of your organization. As a structure, an Owner requires a company design with 6 core components: a vision, external mission, internal mission, core values, definitions, and culture codes.
6. Letting go
The final and most vital skill of an owner is being able to let go and move on from jobs in their own company. A trained owner gets, in an operational sense, that their “job” is not to hold onto any job within his or her organization. In fact, the longer an owner stays in a job the more they become a liability to the company and will inevitably stifle business growth. In our company, we say an Owner’s ultimate skill is the rate at which they let go of jobs, and effectively replace themselves through a system. That’s who a trained Owner is. They build the organizational structure and give it to other people to fulfill upon the work within it.
We trust this list helps you on your journey. If you’re someone who is up to playing the game of being a True Owner of your business, contact us. We will effectively guide you in the right direction.