5 Vital Roles of Business Owners

Leaders are not the ones who get things done, they’re ones who get things done through other people. - Warren Buffet

As the size and complexity of your organization grows, you’ll become more and more reliant on your team to get things done. That’s as it should be, but without proper leadership your team is as good as a ship at sea. Minus the captain.

Without the implementation of these five things, your team will suffer and be lost at sea. On the flip side, if you focus on them, they’ll be excited and empowered to bring their best headspace and expertise to your business. The more excited and empowered they are, the better the overall health of your organization will be and the more likely you will be able to overpower competition and grow in exponential ways.

1. Set the Guiding Vision

A leader’s first role is to define reality. Once this is done, you can set the direction of where your team is going and how you’re going to get there. If you can communicate this as a leader to your team, your team’s confidence in you, in the business and in themselves shoots through the roof.

Something to keep in mind, however, is that vision leaks. This is why it’s not a matter of if you’ll have to remind your team, but when and how often. In his book, The Advantage, Patrick Lencioni talks about the need to create and continually reinforce the clarity you’ve set for your organization and how it creates a unique competitive advancement that is far greater than any technological innovation over the lifetime of your company.

2. Allocate Resources

How do you direct both your finances and human capital?  If you allocate properly, people will feel fulfilled and you’ll be enabled to get your most vital objectives accomplished.

What decisions are you making on where to spend money? Where are you investing your marketing dollars? How are you managing your team’s best creative time and energy? What you invest your time and energy into will either waste or replenish itself. There isn’t much room between success and failure.

Neglect the stewardship of your team’s creative energy and you’ll significantly hinder your team’s creative impact. Most people have between 3-4 hours of peak creative energy per day. It’s up to you whether that time is wasted on needless meetings and dealing with tasks that are not within your team members’ unique abilities. Manage interruptions that disrupt their state of flow. For each interruption, it takes 13 minutes to get refocused on what you working on. 

Imagine a day of ceaseless interruption and task-switching.  Sound fulfilling?  Will you be able to crank out the best work of your life if you’re constantly bouncing between tasks, meetings, texts, emails, phone calls and more?  No.  You’ll be getting home feeling drained, fried, frustrated and your team will too.

Create expectations and freedom for focusing on truly extraordinary work. Not many leaders or business owners are happy with half-ass work when excellence can be had.

3. Build and Develop Exponential Relationships

Have you ever noticed how big brands reinforce each other?  Such as how McDonald’s promotes Coca Cola and vice versa?

Key relationships are a game changer for any business. They can elevate, sidetrack or expand. In today’s market of encouraged networking, partnership opportunities, marketing opportunities and sales opportunities are more than great ideas, they’re necessary ones.

The smartest people in business will tell you that it’s not what you do, but who you know.  Business leaders who are looking for opportunities to grow their business exponentially find incalculable value in creating key relationships and partnerships.

If you are spending quality time with people who are 10X ahead of you, how can you not grow and learn from them? High level events with quality people are expensive, but the missed opportunity for transformation costs more than you can imagine.

4. Recruit and Hire A-Players

If you recruit good players, you create an environment of team growth, which causes your team to thrive, and as a result, makes it easier to attract top notch people. Your team and organization will be enhanced dramatically by having A players.

The people on your team want to be fulfilled and stretched. They’ll become frustrated and bored if they’re forced to be surrounded by non-performers. Make it a goal of yours to bring A players on. They will require better pay and they’ll deserve it, because they have the ability to grow your organization exponentially. 

The law of attraction is in full force with A players.  They are discouraged by working with C players.  But they are drawn by A players.  They feed off each other and the power of synergy kicks into full force.  Then it becomes easier and easier to attract A players because they desire to be around other people who are striving for the extraordinary. 

At the minimum, hire B players who can become A players with the right training and environment.  There are a lot of talented people in the workforce who are looking for direction, guidance and visionary leadership. 

5. Build and Enhance Organizational Health

It’s unnerving how much of a competitive advantage you can have if your team is more in sync than other teams around you.

This is evident in sports all the time. For instance, when Phil Jackson came to the Bulls and Michael Jordan, the basketball team had played eight seasons without even getting to the Finals. Jackson changed the fate of their team by developing vibrant relational health and morale within the organization. By believing in them and strengthening a disheartened group into a team that was greater together, he pulled better plays and better games out of them. 

Financial and organizational health are just as important as the operational health of your company.  You get to be responsible for guiding your company towards that. You get to be the captain of your ship. With that power comes an even greater responsibility.

10twelve was born from owning, operating, growing and selling companies of our own. We learned from our successes and failures and take that knowledge to continue to operate our own brands and help our clients. Contact us today to talk more about how we can help guide your business to further success.