When to Fire Yourself: Three Roadblocks to a Thriving Enterprise

Posted by CEO and Founder of Allied Executives, John P. Palen

If it is the intent of all CEOs to build a business that is independently self-sufficient, then they will create more independence, freedom and value with their company.

How do you do that?  You hire and develop strong key leaders around you to make the right kinds of decisions to independently run the business so you don’t have to.  By eventually getting out of the way, you don’t have to sell. You can keep a self-sufficient, independently operating company and reward employees who run it for you.

Few entrepreneurial business owners know how to fire themselves from working in the business — at least early on. There are three main roadblocks they need to remove in order to grow the business and reap the rewards.  

Micromanagement
CEOs who think they have to be on top of every little thing to avoid failure end up with exhaustion and frustration. The only reason to be a micromanager is if your people are incompetent. If you have good people, then you are limiting momentum and faster growth by requiring constant updates, approvals and confirmations through the CEO’s office.

Hiring the Wrong People
Don’t hire incompetent people. Hire slow and fire fast to ensure the right fit for the role and the culture. If the role and cultural fit are correct, then you can develop people for the skills and aptitudes you need to replace your skills and aptitudes as well as to cover areas where you are not strong. You can trust them because you trained them properly on the processes and procedures of their role in the business. You communicated expectations clearly for reaching the goals.

Running the Business
When the right people are in place to run the business, get out of the way. Successful CEOs lead a business. They don’t run it. They manage a system, not people. Allow your people to earn rewards by working toward the goals set forth by your vision and long-term planning. Will it be as perfect as you think you personally could do it? Maybe not always, but minor imperfections are worth the rewards of leading a company that can survive without you.

Don’t know how to fire yourself? Talk to Allied about our CEO and executive peer groups for confidential insight from leaders who’ve done it and thrived!