Stuck in a holding pattern? Not sure which step to take next? Bill Silverman, owner of Springboard Business Coaching, outlines five things successful owners do that you can use to grow your painting company into an efficient multimillion-dollar business that virtually runs itself.
1. They rethink their role
Multimillion-dollar company owners realize their job is no longer to do the work and to be the go-to person for everything. To enable the company to grow they
- Chart the course for their business, and
- Get things done through their managers
Think of it as going from one-man band to orchestra leader… or from a laborer to a general contractor.
2. They create a vision
Next they envision the business – and lifestyle – they really want.
Key: They share their plan with employees and make sure to show them how they are a part of it.
Think of it as building your dream house. The more clearly you can picture it, the more you will be able to map out the steps you need to take to make it happen.
3. They use a management system to keep everyone on track
Setting up good business systems and regular meetings dramatically improved growth and profit and cut hours and stress from their work week.
Think of it as teaching a kid to ride a bike: You have to hold on tight at first, but as your team members rise to the occasion you can gradually let go.
The goal: A self-sufficient team that you trust enough to run the business without you.
4. They use performance management to increase productivity
Successful leaders implement an effective performance management system so that every decision doesn’t have to run through them.
Think of it like the bumpers in bumper bowling. A good performance management system makes it hard to do the wrong thing and makes it easy for people to excel. It creates more consistent, predictable and better results.
5. They look for better ways
Successful businesspeople talk with their managers and tap their employees for ideas on how to improve efficiency and do better work.
The bottom line
Multimillion-dollar company owners have shifted their role from doing everything to truly leading their team and helping them do exceptional work.
Learn more and connect with Bill Silverman through his website, springboardbizcoaching.com.
This article was originally published in the Spring 2017 issue of the Sherwin-Williams CommercialPro newsletter. Get more business-building tips and info on products, services, discounts and project solutions on the Sherwin-Williams contractor website