Stage Six of Business Growth-Growing Out of Small Enterprise
If they choose to grow further, once again, they must unfreeze their current mind-set and discover how to once again change how they approach the management of their business. At this time, they must no longer lead from the front, but manage directly as a senior officer. They must learn how to become a leader and introduce managers to control the divisions. A small percentage of small enterprise understand that they must, through agreed key performance indicators (KPIs), further ‘let go’ of micromanagement control and become a manager rather than colleague. That is, if they want to free themselves to increase the business.
At this size, unless the entrepreneur either uses the company income to expand or gets a loan to invest in the business, the current staff continue to do all the work and development is limited. Therefore, a new mindset is required to make the transition.
Shifting from doing to Managing | Managers to Control Divisions | Current Staff doing the Work | Limited Growth