As an entrepreneur or business owner, your company means everything to you. It’s where you pour your time, effort and money. You’ve made significant sacrifices to get your business off the ground and you’re determined to see your vision come to life. You’ve been gifted with the entrepreneurial spirit and you’re putting it to good use.
As part of that spirit, you probably also feel a significant sense of ownership over your business. That’s a natural feeling because, after all, you’re the one holding the reins. In the early days of any company, the CEO is usually the one calling the shots and writing the road map. They may consider input from other business leaders, but from an execution standpoint, it’s a one-person show.
As a result, many of the entrepreneurs I know feel like they’re jacks-of-all-trades. In addition to the CEO, a lot of business leaders consider themselves to be a marketing manager, sales executive, customer support representative and so on. While that mindset has benefits, it’s not an ideal way to operate.
If that sounds like you, it’s important to understand how the “do everything” mentality can hinder your productivity over time, and why hiring is so important to your company’s growth and success.
Spotting The Signs Of Burnout
Rarely do business owners adhere to a traditional 40-hour workweek. You’re probably working early in the morning, late into the evening and on weekends. You can forget about vacation time or sick days as well. Any entrepreneur who has a few years of business experience under their belt knows that burnout is a real threat.
If burnout hasn’t happened to you, you probably know someone else who’s experienced it. If you’re not careful, you can easily fall victim to burnout as well. As I discuss in detail in a recent article, here are some of the telltale signs of burnout that you should be aware of:
Have you been getting frustrated with your people for seemingly no reason? It’s probably a sign that you’re dealing with burnout. Feeling irritable, on edge or just generally annoyed usually means that stress is getting the best of you and is impacting your work.
Can you remember the last time you actually had a night of quality sleep? Over time, those late nights and long hours will catch up to you. Feeling overly exhausted, or like you’re operating in a mental fog, is a sign of serious burnout. When you’re tired, it’s much harder to muster up motivation, stay focused and problem solve.
Another way that exhaustion can hurt you is by making you more forgetful than usual. Maybe you recently forgot a big meeting or an important project fell off your radar. A lack of sleep and increased stress levels can leave your brain feeling distracted and unable to remember simple, everyday tasks.
Burnout happens for a variety of reasons, but most of the time, it happens when you take on too much work. That jack-of-all-trades mentality starts to backfire and it can have long-term consequences on your productivity, motivation and even your mental health. There is hope, though, because one of the steps CEOs can take to avoid burnout is to make hiring a priority.
Why Hiring Is More Important Than You Think
A lot of CEOs put off hiring until the last minute, or avoid it altogether. Some view it as an unnecessary expense, and others can’t bear the thought of giving up control to other people. But here’s the thing — hiring isn’t just an important part of avoiding burnout. Not hiring could actually stagnate your company’s growth.
At a certain point, hiring becomes necessary in order to scale your company and take it to the next level. Even if you are a CEO with experience in marketing and sales, you won’t be able to physically manage all those separate functions when your business is exploding and your customer base is expanding.
For example, maybe you have a great product or service, but you’re too busy to manage social media, and you’re missing out on potential customers on those untapped channels. Or, maybe you have tons of other great business ideas, but you can’t get them off the ground because you need an assistant to help distribute the workload.
Entrepreneurs should look at hiring as a way to improve efficiency and productivity for themselves and the business. Hiring does not mean you lack certain skills or that you don’t have the motivation to do everything yourself. Building a team will always be a smart investment, as long as you have the budget for it and enough work to keep everyone busy.
One of the biggest hurdles that many entrepreneurs face is that they tend to be too controlling. Their company is their baby, and they want full rein over their vision. As I discussed earlier, hiring is vital to the success of a company in the long run. There’s a reason you don’t see many unicorn companies being run by the CEO alone.
In order to overcome that mindset, entrepreneurs need to get comfortable trusting others to help with the business. The CEO will always create the vision and lead the charge, but hiring staff with expertise in specific areas accelerates growth and improves efficiency across the board. Remember, no one else can be the CEO, so you need to handle those responsibilities first and foremost.
Source - Read More at: www.forbes.com