As a business owner wearing many hats, you may be failing your company at any one of your roles. Unfortunately for you, all those hats are essential to the success of your entreprise.
If you were employed and you were failing in your job, your boss would have three options.
Option One: Ignore your inadequacies, hoping for a better outcome next month (next year?) but all the while knowing your performance could adversely affect the company's success. And, knowing that somewhere down the line it will have to be addressed.
Option Two: Fire you and put someone competent in your job.
Option Three: Look for ways to help you improve. Could you use training, coursework, mentors, or an advisory team that helps you transition from sorry to super in your role?
The answer is probably obvious. The last option is probably the best option. Unfortunately, for many self employed professionals, we opt out for solution number one.
Part of being your own boss means making yourself accountable for all the roles you must tackle in the day to day grind. If you don't do it well, it's unproductive to stick your head in the sand and hope for a better tomorrow. Take an active role in making yourself a better "employee" of your own company.
How would accomplish such an exercise? Here's a step by step plan.
1. Make a list. Start by making a list of all the tasks and responsibilties that fall to your plate. Be as detailed as possibile. You may want to have several tiers: the first one addressing executive tasks, the second one managerial, the third tier support, and so on as it relates to your business. Pull from your business plan to include your entire scope of operations.
2. Evaluate performance. Create an evaluation grid that looks at the tasks, the skills needed to perform the tasks, and how well you perform them. Be honest. Rather than using pass or fail – good or bad verbiage, consider using detailed critiques, such as skills demonstrated, technical accuracy, initiative, follow-through, subject expertise, and the like.
3. Do your homework. Explore the different job titles associated with your performance grid. What types of experience, education, or training would a person need to be hired for the position? What associations serve those roles in your industry? What types of continuing education and training are available? What contacts and colleagues could you call on for help?
4. Draft a plan. You can really see the big picture by now. Identify what areas are a top priority for you to work on and what resources you can use to improve. Whether you enroll in an actual class or take a more informal approach, set a course schedule for each area you want to improve. Establish a timeline, deadlines, and a way to hold yourself accountable as well as celebrate your achievements.
5. Give yourself a raise. Now that you've improved your skill set, you are even more valuable to your company. Reward yourself for the effort. You may want to choose something personal like a vacation or an increase in draw. Or you might purchase an item for the company, like that iPad or business card scanner you've been dreaming of.
Be sure to keep track of the process so you can look back on accomplishments with a sense of empowerment and progress. You will find that as you improve, your company's bottom line improves. And that's the best measure of a job well done.
