I was reading Entrepreneur magazine and there was a profile of a business owner of multiple franchises. The owner was asked about keys to successfully operating multiple businesses. His answer was that he had to hire others to be in charge – he had to become the owner and lose some control.
For me, the business owner’s answer perfectly described the moment when an already successful small business owner decides to either maintain control of details and restricts future growth or moves to the next level of leadership and business.
When your business is ready to move to the next level, then leadership is your next business strategy. The next action for a successful small business owner who wants to make it big is to learn to manage and allocates resources to people who can help the owner lead the business.
This post was inspired by the article More Is More in the June 2014 Entrepreneur magazine, in which they profiled the business owner Aziz Hashim who owns 35 franchises and employs 700 people.