Written by: Nida Leardprasopsuk, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
Entrepreneurs are great at what they do and that usually puts them into a trap. Your advantage becomes your disadvantage. You resist delegating what you believe you can do best and you tie your self worth to the tasks you do. You become the bottleneck of your own business and this prevents you from growing and making more impact.
To get out of this trap, you need to become aware of what you should and should not be spending your time on. You also need to have a strategy to start hiring people, whether part-time, freelance, fulltime, or outsource the tasks that you are currently completing. Here are the steps you can follow to transition into your CEO role and set the path for exponential growth.
Step 1: List out everything you do
List everything business-related you do from the moment you wake up until the time you fall asleep. Don’t cheat or leave anything out!I literally mean everything. Don’t cheat! Besides every task, write down how much time you used for that activity. Do this for a week.
Step 2: Categorize it
For every single task, what impact would it have on your business if you didn’t complete those activities? For example, plan 2023 strategy. If you didn’t complete this, would you experience an immediate negative impact in your business or would it take several months to realize the impact? In this example, Another example, reply to clients’ emails and requests. If this was not completed, of course, you would experience immediate impact within a day or two. The negative impact is that your client would be frustrated and it would affect your client satisfaction. When you start your business it is very common to be the “doer” or implementer in your business. But as you grow and expand your business, you need to shift to the role of the “architect” in your business. As the architect, you are to focus on things that are more long-term rather than being involved in the day-to-day activities of the business like finding clients, sales consultation calls, or serving clients. I use the Value Builder Assessment as one of the tools to help my clients assess the value and growth areas in their business. Part of the assessment focuses on evaluating whether they are spending their limited time and energy on the general day-to-day tasks or specific CEO related tasks involved with longer-term strategies and brand asset building. You can assess the value of your business with this tool for free here on my website. It will provide you with many insights into your business.
Step 3: Time to take back control and delegate
For all the tasks that you have written down that have an immediate impact or experiences a negative consequence in the short term if not completed; you need to remove them from your task list. If you can find some else to complete instead of you, delegate immediately. For tasks that you don’t have anyone to complete yet, you need to make a plan to either hire or outsource.
Letting go of the tasks that you find joy and purpose in doing feels uncomfortable. Letting someone else complete it instead of you feels like a risk. What if they don’t do it as well as I do you keep asking yourself. But we know success lies outside of our comfort zone and shifting into a bigger role where you are truly creating a masterpiece and making the most impact is where you need to be in order to grow to the next level. I hope this article was helpful for you to embrace your CEO role. Follow me for other articles and resources on growing your legacy business.
Assess the value of your business here (for free): Value Builder Assessment
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Nida Leardprasopsuk, Executive Contributor Brainz Magazine
Nida is a top-tier business consultant, mindset coach, and former Fortune 500 executive with more than two decades of experience in marketing, business, research, consumer behavior, and human psychology. Her consulting and coaching business centers around innovation and customer centricity, a key factor in her own success. She helps forward thinking and purpose driven coaches, consultants, experts, thought leaders, and service-providers reinvent, innovate, differentiate themselves from the rest of the competition and become a category of one by: 1.) Discovering and utilizing their ultra-geniuses 2.) Creating groundbreaking solutions that solve clients’ problems in an innovative way 3.) Using a short and long-term innovative marketing strategy that magnifies their thought leadership overtime and 4.) Help entrepreneurs innovate their business and build a culture of excellence.
She is the author of the One to Millions Entrepreneur and host of the One to Millions Entrepreneur Podcast show. She also has a master’s and bachelor’s degree in Business and Marketing and is currently completing her research for a Ph.D. in Social Psychology.
Nida offers 1:1 consulting and coaching services that help forward thinking and purpose driven entrepreneurs build a world-class legacy brand and hyper-grow their businesses through innovation and out-of-the-box thinking.
