Business

How To Be The Owner Of Your Business… By Giving Ownership Away? by @NathLussier

by Nathalie Lussier

At the start of the year, I picked a theme word to help guide my decisions throughout the year. Appropriately for She Owns It, the theme I picked was “ownership”.

To me, that meant being the true owner of my business (real deal CEO style), and really owning my value and the gifts I bring to the world.

Little did I know that this theme would change the way I think about hiring, delegating, and being an owner in a business.

So whether you’re just getting started with your first virtual assistant, or you’re looking to hire your next team member… this advice around ownership is going to help you go far.

As the owner of the business, you have a natural tendency to take more and more on as your business continues to grow and expand.

But let’s face it: you can only do so much for your own business and we all have the same 24 hours in a day. This is why having an extra set of hands, heart and brain is so important.

Having someone to delegate different tasks to allows you to focus more on the high impact “business owner” items that only you can do.

As the business owner you need to ask yourself, what are the different areas that you need to handle yourself and what are the things that can be delegated to your team?

For starters, as a business owner, your main goal is bringing home the bacon.

Things like having sales conversations, creating marketing campaigns, and being the visionary that steers the ship… That can’t be outsourced, at least not in the beginning.

Now let’s look at what you can and should delegate over time.

Your team can execute marketing campaigns, schedule and publish your work, handle customer support, keep the ship running… and even deliver the products or services that you’re busy selling. Their areas of expertise might range from the technical, design-oriented, all the way to the written strengths.

For a lot of business owners, it can be hard to know when the right time to hire is, especially when the cash-flow of the business is still unpredictable. But sometimes hiring and delegating the right things can help you even out and increase your company’s cash-flow, and it’s a risk that might be worth taking.

My biggest tip for anyone who is hiring?

In order to be the owner of your business, you need to give ownership away to your team members.

That means you need to only hire people you would trust with full ownership of these parts of your business. This actually helps you filter candidates during the hiring process, and it’s just a very freeing way to operate your business, too!

This means that other members of your business can make decisions on your behalf, and make things happen without depending on you. With this concept, you are letting your team members make decisions that can benefit your company.

Now I’d love to hear how you’ve been able to benefit from hiring and giving away ownership… and if it’s resulted in you gaining more ownership of your business, too. Leave a comment below!

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nathalie-blogNathalie Lussier teaches you how to use digital strategy to match your ambition, to take your business Off The Charts every week. Sign up for the next totally free 30 Day List Building Challenge right here, it starts now!

4 Replies to “How To Be The Owner Of Your Business… By Giving Ownership Away? by @NathLussier”

  1. Stephanie

    Great post! I could not have said it better myself. I love when you said that business owners need to be focusing on bringing in the bacon! That’s exactly what I tell small-business owners. You bring in the bacon, I’ll do the bookkeeping so you can see where your money is at and where it needs to be. 🙂 Biokkeeping is the number one thing that small-business owners can outsource.

    1. Nathalie Lussier

      I totally agree Stephanie, book keeping is such a great thing to outsource and not have to worry about!

      And I love that you tell your clients to bring in the bacon, so you can take care of it. 😉

  2. Kumar Gauraw

    Hi Nathalie,

    The closing summary is absolutely to the point and exactly this is what can make of break a business.

    I have found it hard to find people who would take ownership and therefore, I sometimes struggle to get right people on my team. But one thing for sure, when I get people I trust, I give them the ownership and it is a joy watching them taking the business to the next level.

    Thank you for sharing.

    Regards,
    Kumar

    1. Nathalie Lussier

      Yes, I’m currently interviewing and hiring for a new position right now – so I totally get it! But when you put a lot of love and effort into finding the right people, everything works so much more smoothly. 🙂

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