The owner of a business should always consider their job to be the coordinator and ambassador for service and quality. To be a successful owner, the person needs an honest assessment of their skill set to hire critical functional personnel competently. Hiring who you like or the one that is fun to be around is not in the best interest of an effective business nor the stability of the business. The team should be built based on skill sets and the synergy within the team. Owners who hire key people that possess the strengths in skill that offset their weaknesses will create a more robust team to break paradigms faster. The synergy that can be created as the methodology is pushed down through the organization can create an unstoppable force in their industry.
Companies that hire based on skill and promote based on skill; create an atmosphere of respect that will propel the team to work towards excellence. This culture creates a level work playing field and a valued workforce who will push the envelope of possibility.
And then there is the owner that feels all skills have been bestowed upon them and they know it all. Although good for the ego, not a basis for employee satisfaction and growth. This misguided approach will create a company of workers who are punching eight and celebrating Friday at 5:00pm. Hiring is typically not well thought out with most hires based on filling a job rather than a particular skill set the company needs. Needless to say, the business typically will remain small due to the lack of talent needed to increase span of control to navigate as a larger entity.
The owner who knows it all will attempt to grow; however, will always seek equilibrium back to the original size due to the lack of leadership depth and synergy to hold the company at a higher level. Many business owners continue the frustrating process not understanding why the company is fluctuating and not sustaining at the higher levels.
A good way to look at the issue: Will one perfect engine cylinder push a car faster or more reliably than an engine with 8 above average cylinders. The larger the company becomes, the larger the engine needed to push it. One step beyond this basic concept is a 2nd and 3rd engine standing by to provide redundancy in case your primary engine fails. This is a good policy as certain critical functions evolve. This type of redundancy can be efficiently solved through cross training within functional areas to create primary, secondary, and tertiary support as the unexpected inevitably will occur.
Realization you do not know everything is a basis for evolution in business. One person cannot evolve a company by themselves. It takes a village, http://southeastmortgage.blogspot.com/2013/03/the-village-by-cal-haupt.html, to maintain and grow a company. People are social by nature and who would not enjoy growing with a team versus mono-rule.
Cal Haupt, CEO, Southeast Mortgage of Georgia, Inc.