A British entrepreneur once told me that during the first 4-5 years running his business, he insisted on signing every cheque, authorizing every payment, and all the rest of it. But he was traveling so much, that he ended up being the bottleneck: he could be in America the day he needed to authorize payroll, for instance.
Imagine the reaction of his employees when they learned they’d get paid late simply because their boss couldn’t physically sign off the payroll.
One day, his deputy told him: “You’re the bottleneck in that organization, you need to delegate to be able to make payments”. His immediate reaction was "What? Giving up control of the bank account"! He freaked out because he was scared of letting go. However, the deputy told him she had prepared a 6-month transition plan to build up his confidence.
So, he reluctantly agreed. At the end of the first week, he realized she was doing it so much better than him that he handed everything to her and the bottleneck disappeared.
There's a 100% chance you will face bottlenecks. It's critical you recognize their impact will gain momentum if left unchecked.
6 Areas Bottlenecks Typically Affect
1. Your accountability:
You begin to deny responsibility for your actions, shift blame onto others (e.g. "I can’t trust my people"), and make excuses that hinder your productivity (e.g. "nobody else can do it as well as I can").
Instead of achieving meaningful outcomes, you find yourself constantly busy but not progressing. As an entrepreneur, it can indeed be challenging to find accountability when there are few individuals to hold you responsible.
However, it's crucial to find a way to remain productive because you’re the driving force behind your business. When you, as the engine, grip, the entire vehicle comes to a halt.
2. Your focus on priorities:
You become overly controlling, get entangled in day-to-day operational challenges, and neglect the essential task of reflecting on the bigger picture. This lack of reflection hampers your ability to make strategic decisions.
As an entrepreneur, it's natural to become deeply involved in the day-to-day operations of your business because of your care and dedication. After all, your company is like your "baby," and you want to ensure everything runs smoothly.
However, this behavior can be unsustainable in the long run. It can block your ability to take a step back and reflect on important questions such as: Where are we headed? Why are we going in this direction? How will we reach our goals? Are we still on the right track?
3. Your ability to let go:
You develop an attachment to doing everything by yourself, trying to fix all problems and make all decisions. This prevents you from gradually stepping back, empowering your team, and allowing them to take ownership of their work.
To build a business that extends beyond your efforts, it's essential to transition from working primarily "in" your business to working "on" your business. It entails taking a more elevated perspective. It involves developing systems, processes, and tactics that allow your business to thrive independently of your constant involvement.
4. Your clarity of direction
You lose purpose and are uncertain about the next steps for your business. External forces dictate your agenda, causing a decline in motivation and diminishing the happiness and engagement of your staff.
Returning to your "why" is crucial for maintaining clarity and alignment within your company. By connecting your business with your sense of purpose, you establish a solid foundation that guides your decisions and actions. When you are clear on your why, it becomes easier to attract the right people and customers who resonate with your mission and values.
5. Your self-confidence:
You feed self-doubt and lie to yourself. You lend more credit to that critical voice in your head and experience imposter syndrome. Feeling isolated, you may believe that no one can assist you.
Self-confidence can be cultivated through various means. One effective way is to address your bottlenecks head-on. As you overcome them, your confidence in your capabilities and decision-making will naturally grow.
6. Your health and family relations:
You prioritize work above all else. Your quality of sleep declines, appetite decreases or is forgotten, irritability increases, fatigue sets in, and relationships with loved ones fade. If things are left unchanged and you continue to neglect important aspects of your life outside of your business, several potential worst-case scenarios may arise: illnesses or accidents, burnout, relationship strain or divorce.
While your company is your sweat and tears, remember that other important aspects of your life deserve your attention as well. Define your priorities.
As an entrepreneur, you’ve got to wear many hats, acquire many skills, and make many decisions – fast. All whilst under extreme pressure to deliver quality work to your clients, take care of your employees, and maintain a healthy cash flow.
Experience has shown me that becoming the bottleneck in your business isn’t a question of whether it will happen. It’s a matter of WHEN it happens.
I can help. Schedule an Impact Assessment call with me today. During this call, we will identify and diagnose your potential bottlenecks, understand their impact, and create a practical action plan to eliminate them.
There’s no charge for this. Schedule your free call now.
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