Spring Break Splendor: Ensuring Success While You're Away
Since school will be out for most students in the next 8 to 10 weeks, and Spring has arrived, making and preparing vacation plans for many families is underway. I was talking to Evan Wise, M1 Co Founder, about our own family vacation plans, and then he asked a great question about Indie Retailers. How well do their businesses run when they are out? As we talked he suggested asking the following…
Which question below best fits your current situation?
I'm comfortable going away for 3 days. Yes No
I'm comfortable going away for a week. Yes No
I'm comfortable going away for 2 weeks. Yes No
I’m comfortable going away for a month. Yes No
How you answer tells a lot about the confidence you have in your people. It might reflect a team that is in transition or it might be that you are in a new business. If you are in your first three years, then leaving for 3 days to a week probably makes sense. In the first few years, the founder is deep in the weeds building, teaching, and adapting. Time invested in the first years, if spent correctly, should create the transition of responsibilities from the founder to other team members in the business. It may take 3 years of working together to establish trust with your staff, for a longer vacation. Trust takes time to develop.
For mature companies, the answer might reveal your own state of mind. What I have found is that frequently a fear of letting go exists among owners. Especially if cash flow is an issue. If the fear of letting go is based on data, that indicates one set of challenges. It could be a hiring or teaching issue, in which case a compensation, hiring, and firing process may be needed or improved. If the fear is based on feelings, then outside coaching can be a big lift to helping you achieve some freedom from the business.
Not being able to leave even for two weeks, may also uncover other deeper seated issues. For example, your leadership role is so intertwined with your identity, it has become an extension of yourself, and leaving for any period of time provokes feelings of insecurity. This can morph into a sense of indispensability. Sometimes fostered by your own supporters.
Remember, leadership transition is rarely smooth, especially for founders. It involves emotions like anxiety, fear, grief, anger, and frustration. If your answer is going away for only 3 days to a week, then seeking external support is a timely investment. You have invested significant time and emotional energy in making your dream a reality. Success goes beyond remuneration in cash. Building and sustaining a lifestyle that meets your expectations is another component of measuring success. As children leave home and life transitions occur, founders may cling tighter to their role for a sense of purpose.
It is difficult to transition, be patient with yourself!
However, I found over the years that once a sense of financial security was established, owners became more open to hiring the right people, and the sense of pride shifted to building on the backs of others, not just themselves. Creating that financial security has always been the core purpose of Management One
Another great discovery I made is once I started to let go, my life and health both got better and my energy to the business increased significantly.
Onwards and Upwards,
Marc
