INSIGHT

At some point, you might need to take a step back

There's something you should know, by Colin Glass

Colin Glass is an accountant, funding specialist and dyed-in-the wool Yorkshireman. He’s been nurturing thriving small businesses forever (well, almost). And he has a few home truths for the founders among us. One in particular in fact.

Good management teams are hard to come by. And getting that right one often involves some tricky jiggery-pokery.

 
 

“You need to have a good management team to take your business forward and that may mean making some hard decisions,” says Colin. “You might need to consider changing the roles of people already within the business, even those of the founders.”

He points out that this is particularly important in growing businesses and that everyone must engage in a little self-criticism, as well as some frank and open discussions about what’s going well, and what the best way forward might be. “There needs to be honesty from the founders about how far they believe they can take the business, either on their own, or with their existing team.”

It might be that the founders need to step back from some elements of their roles. For instance, Colin says: “If someone has been a jack of all trades so far but their strength is really in marketing, there might reach a point where you all decide to bring someone in to support on the operational side.” 

He adds: “Have a long look at your own skills and always employ people who are better than you. Really good entrepreneurs build strong management teams that they can confidently delegate to – then they can choose at what level they want to get involved.”

Have you got something we should know? Why not drop us a tweet and tell us? @vmbusiness

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