Last week I update the learning objectives for an end-of-year strategic planning retreat workshop I conducted several years back. Something struck me that could hold the answer to why small business owners struggle in executing their strategic plan.
First what struck me as odd is that most small business owners are very good at achieving objectives. So, why do the struggle when it comes to executing on something more strategic in nature?
To some extent, this may go back to a post I wrote some time back titled Lack of 2 Diverse Skills Hinder Owner Success. In this article, I discuss a small business owner’s ability to think strategically and execute tactically as skills that can impact small business growth. While these are factors, they can be overcome and definitely are not the only ones.
Two other factors that have a huge impact on execution are resource planning and delegation. By resources planning, I mean the ability to create a plan based on the resources at your disposal.
Too often I hear all the “negative-speak” of I don’t have enough _______ to accomplish my plan. I say non-sense! You may not have enough money to do it the way that you want to do it, but if you asked a better question like “how can I accomplish this with the resources available to me?” I am sure you’d come up with a plan that you could execute on.
To some extent, the delegation problem is a resource issue too. It’s just a people resource issue. Unfortunately, the owner is the root cause of the problem and doesn’t even realize it! Let me show you what I mean.
As I began looking at my realization I asked, “What is the resistance that I usually hear when there is a delegation problem in a company?” It usually falls into 1 or more of 4 areas:
- Nobody knows how to do it or to do it as well as I do.
- I don’t have anyone that is capable of doing this job.
- Employees don’t care or won’t put forth the effort.
- It’s my baby and nobody will take care of it like me.
In all cases the owner has complete control as he/she is in charge. The problem is they either don’t see the problem; don’t know how to fix the problem; or are unwilling to do what is necessary to fix the situation.
Correcting the first 2 problems, not recognizing the problem or not knowing how, are easily corrected with training and coaching. Fixing the last one, the unwillingness to address the situation is a little harder to influence. This requires real psychological work and can be a very tenuous situation. But, there is a way to address it.
I am interested to get your perspective here. Is my supposition correct? Do you think if the leader of the business will address his or her personal issues the business gets stronger too or not?
In the coming weeks I will explore some information that provides a very strong case for the impact improved self-awareness can have on the growth of a business. In the meantime, share your experience in how improved self-awareness helped you grow your business. Let’s get a dialogue going here that can help those that may be in a rut to get out or at least let them know where to turn their focus!
I agree. Just like the success of a small business can be attributed solely to the entrepreneur who built it, the lack of continued growth can be attributed solely to him or her. Many entrepreneurs are very good at setting the vision and starting a new business, but they are not very good at carrying out a long term corporate growth initiative. Once the original problem is solved and work becomes routine or lacks the luster of a startup, growth stagnates.
The issue is not as much an issue of delegation, time, or human resources, but rather motivation. Entrepreneurs are often driven by intrinsic thrills in tactical problem solving where strategic plans become too broad and as such a burden. Often management style change is required to achieve a new level in growth.
[…] week’s post The Major Barrier to Executing Your Strategic Plan, talked about self-awareness as a key to moving your business’ agenda forward. Mentioning […]
Yes absolutely it all comes down to the person who owns the business to make it work . I am the owner of a small amusement ride company and find it very difficult at times to keep things running , however to put your mind completely into what you are doing helps and to believe it is going to happen gets you through . Personnel life can get in the way at times and the fact that workers just dont want to put in the effort can be a problem. Money is the other a lot of outsgoing so budgeting is important , however the winter season is very quiet so this is where we need to be sure we have money aside for the continual outs goings.
I am always interested in input on the best solutions to running this business and well best book keeping systems.
I have been running now for 7 years , however seem to have not realy grown as much as i would like so i am still focused , however sometimes a little concerned why.
[…] The Major Barrier to Executing Your Strategic Plan — Your Small Business Growth. […]
Excellent topic and very helpful information, Dino. I’m glad I found your article as “all things small business” is a passion of mine. Your take on self awareness and its impact on business leadership is intriguing. Along the same lines, I just read Sean Covey’s 4 Disciplines of Execution and found it to be incredibly enlightening. If you haven’t read it use this coupon code and get 45% off before Friday:4DXOct19 (http://bit.ly/covey4dx). Hope you enjoy it as much as I did!