Balancing self-development with business growth
By Dr Wilfred Isak April
Sometimes it can be daunting to find the time to focus on yourself while as the owner you also have to make critical business decisions. Business owners at times feel that they need to double check all business decisions and they also want to be part of each and every project. However, this might lead to burnout or exhaustion in the long run. I would personal advice you as an entrepreneur not to make life more difficult than it already is. It is already a huge responsibility on your shoulders being an entrepreneur. It is inevitable that you will also need to be someone else’s mentor, or human relations expert. This can result in your self-development being lost along the way.
If you, as an owner have this mindset of trying to achieve it all by yourself, you will start to alienate your own employees and sometimes business associates. This could create a bottleneck around decision making, which can lead to your own stagnation. The key question readers might be asking right now is. What should be the next move if you wish to have the best of both worlds, which are business growth and self-development? For many Namibian entrepreneurs they would like to grow their businesses in such a manner that they are able to support the business by finding the right new clients, good business strategies which could lead to possible expansion. Who knows new clients with excellent ideas could help you achieve your dreams. This can be found in textbooks, business networks or entrepreneurial courses. The key idea is that as an entrepreneur you have the potential to look at new ways of doing things as we live an ever changing and dynamic business world.
Take a moment and think about the days you were a child. The same applies as you grow your business it has different needs based on where it is in the developmental stages. If you have just launched your business it requires constant nurturing and attention. Flexibility is the key in terms of how you handle the product or service development. The same applies to how you interact with your new clients. Once your business takes the next level it will still require your time, but you will be at ease and comfort as you know what is expected. You will know the daily routine and your clients will have a clear understanding of your services. I have to caution you not too get too comfortable, but rather look for new ways of improving as new ideas can still built into the bedrock of a growing business.
A number of Namibian entrepreneurs choose to enroll at the nearest business school once the business takes shape, only to realise that the hardest thing is not course work, but the demanding course load to be mastered. As always with good intentions, I advise you not to run for the easy way to get rich. The best way to grow as a person and a business owner is to become a lifelong learner and educator. I will leave you with a few pointers how to best do it with style and a class act.
• Good and generous people: Surround yourself with strong, knowledgeable, passionate, dedicated and capable and able people. These are those Namibians who are willing to own a problem and work hard so that a solution can be reach.
• Education: A cannot over emphasise that you need to invest in the growth of your employees. Every single person on your payroll from manager to cleaner should be part of your self-improvement plan. I know experience is vital, but so is knowledge that will enable employees to make informed decision about your own business.
• Trust: This is a very small, but yet critical word and one cannot earn it overnight. It comes from allowing your employees to make decisions and learn from them. Until you have trust in your people, they can and will never have the experience that you need to have them.
• Finally delegation: Sometimes business owners do not want to delegate, because they assume that they know it all. True that, it is hard to delegate if you do not trust people, but this is a time of faith and hope in Namibia. Loosen up and know that things do not always have to go your way. Do it for yourself and your business.
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Dr Wilfred Isak April is a UNAM Graduate and holds a PhD- Entrepreneurship (New Zealand). He lectures Leadership, Organisational Behaviour and Entrepreneurship at the University of Namibia.