Being a boss is a tough job, especially if you are an entrepreneur. So many things need to go right so that you can build the business of your dreams.

We have talked about the importance of building a team and tips to level up your leadership. Today, it is all about becoming aware of the five unpleasant truths that can make or break your business.

1. Gut Is More Important Than CV

While helping business owners to develop their people, I came across many graduates from Ivy League schools who were hired mainly based on their CVs and not because of their killer business instincts, superb productivity, or mind-blowing creativity. Such hires very often lead to management disasters and make the boss wonder “What was I thinking?” Thus, when you hire, think less and trust your instincts more. Ask yourself: “Is this person a team player? Can I expect loyalty and integrity? What is their biggest strength?”

2. Systems Reduce Suffering

How many times can you or other people in your company explain the following to new hires:

• How to do things

• What are the values here

• What is accepted and what is not accepted in interpersonal relationships

• What are the standards of communication within the company

• What is the process of dealing with existing and prospective clients

• How to deal with rejection

• What is the line of reporting

• Who is responsible for what, etc.

The more you grow your business, the more you will run into the “human management nightmare” without the right systems. A business needs systems. If you start creating those systems early, you will be able to grow your team and your business much faster and with fewer headaches.

3. Set The Standards And Empower

Accountability and responsibility are what sets high-performance teams apart from the rest. I have heard from many business owners that their people “are not performing to high expectations” or they “are too shy to make bold moves in business” or they “do not want to make decisions on their own”. My answer to all of these issues is a standard one. Your people are a reflection of you. You are the leader and it is you who has created this monster. Now it is your job to transform them into a highly productive and profitable dragon! How? By letting your people know very clearly who is responsible and accountable for what. Once you assign their responsibilities, be smart and allow them to own it. As a boss, you are not here to babysit your employees. You want them to live up to the expectations of being competent, productive, mature, respectable, and outstanding business players.

4. Delegate … And Breathe

The ability to delegate and let go of personal control over certain business matters seems to be one of the hardest things to do for the majority of entrepreneurs. You are the one who came up with the idea, pushed through hard times, invested your own money, and put your name on it. I get it. But the truth is, if you do not learn how to delegate as much as you possibly can, “your business will be restricted by your own vision and energy level”, as this week’s YanaTV guest Mukul Deva shared with us. One of the easiest ways to come to terms with delegating is to accept in advance that your people will make mistakes. All that you can do is take a deep breath, give them constructive feedback, and allow them to try again and again until they get it.

5. People In, People Out

Life shows that sometimes we come across situations when people “just don’t get it”, no matter how many times you explain and how many times they try. It could be a personality misfit or may be just “not their kind of job”. In those times, as a boss, you have to make tough choices. It is always difficult to let people go, but if their presence in your company is harming overall productivity, or leads to unreasonable increases in costs, or sabotages team spirit, it is time for them to look for another opportunity somewhere else. All that you can do is wish them well and immediately look for their replacement. And, if you trust your gut, I am sure you will find the right hire!

Stay focused on your vision. Surround yourself with the right people. Success will follow!

You’re gonna rock it!

P.S. Do check out my “People Power” website as I share 8 tips you can use to network and connect with high-power people.

_{This post was first published on Yana Fry blog and has been reposted on Executive Lifestyle with the permission of the author.
Edited by Nedda Chaplin
Image credit: hispanic woman at work as fashion designer and tailor from Shutterstock}

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