Don’t Do It All On Your Own

Someone recently reminded me of a very important business concept that very often goes forgotten in small business. She is a high level manager in a multinational conglomerate and is responsible for a large staff working under her.  When I asked her what her secrets to success were in this position, she tells me that 70% of her time is dedicated to the professional development of those she manages while only 30% is spent on doing her actual job.  ”Really, only 30% of the time is spent doing actual work?  That doesn’t seem too productive, your boss must not like that.” She replied,  ”of course he does, that is my job, to make everyone around me better and to hold them accountable for their own self improvement.”

Understand that large corporations have huge budgets and always set aside funds for improving their people that’s why they take professional development so seriously.  They must do this in order to stay competitive and to make sure their people are always one step ahead of the competition, but also because they know that a huge percentage of people who begin an entry level career at a company often times retire with the same corporation.  There is no better way to invest a company’s resources than in the same people who will be there to manage it in the future, good managers know this.

But then there is you, the small business owner.  You do not have the vast resources of the multinational company.  You work fourteen hours a day trying to stay in business.  You juggle your payables to stay alive, you are out their trying to bring in new clients and you put out fires when you see smoke, when are you ever going to have the time to develop those around you?  That’s the problem, you are doing it all on your own, not a formula for success.

So what if you stepped back and decided not to do it all on your own anymore?  What if you took a few hours out of a week to sit down with key employees and put together a professional development plan for your company’s employees?  Instead of always being the one to drive sales and resolve customer issues yourself,  if your people are trained properly you can spend more time on the areas you do best, managing and improving your people so you don’t work as hard.  Additionally, if you thoughtfully design a customized professional development plan for each employee to follow to success, they will work harder and contribute more when they see you care about them and demonstrate that they are integral to your organization’s success.

I know you are busy keeping your business going.  But, with a little extra time and effort developing the skills of your people now will bring huge success to your organization later.  Remember the 70/30 rule.