“Control freak” is often an apt description of business owners. We like the ability to control our destiny, make our own decisions and see the impact of what we accomplish. The challenge comes with:
-- Understanding how little control we actually have; it’s really just a perception of control.
-- Learning how to relinquish control, i.e., delegate, for the business to grow.
-- Leveraging our controlling nature into something successful.
The example below offers some good insights on this.
An Entrepreneur’s Dream
Sal kept watching how the business was run, the waste that was taking place, how customers were being treated and the lack of profit that was being generated. These frustrations led to his determination to start his own business.
Sal’s premise was that he would treat employees much better than his current employer did, eliminate waste, treat his customers better and generate more profit. In essence, Sal wanted control overthe areas in which his current employer struggled. He accomplished those goals. He also learned a number of lessons in the process.
These goals were Sal’s primary drivers for family business ownership (and possibly entrepreneurship in general). The person who wants to start a business:
- Is tired of following someone else’s lead/orders;
- Believes they can serve the customer better;
- Has different ideas on how to implement the product or service;
- Desires flexibility in their day-to-day lives and a better balance between work and home;
- Craves the ability to make more money.
The Light of Reality
New business owners quickly discover that there are as many challenges in this new role as in their former job. They just have a different look.
To start, the new boss (themselves and their family) is not the wonderful boss they thought they would be and they have a great deal to learn.
The new boss in the mirror isn’t always a pretty sight. They find that the new boss is demanding, doesn’t give vacations, doesn’t allow employees to sleep in, has become more of a perfectionist, is always striving to improve and the list goes on.
Running any business, including a family business, takes as much—or possibly more—commitment and hard work as any other business role. It comes down to understanding the challenges, including lack of control, and then determining if entrepreneurship is right for you.