FOUNDER'S DILEMMA: A situation faced by all successful business owners/entrepreneurs at some point as they grow and are successful, described as the need to negotiate between CONTROL and WEALTH, or the need to KEEP YOUR HANDS ON THE STEERING WHEEL vs BUILDING FINANCIAL VALUE. Left unchecked, founder's dilemma can result in a successful business dying a slow painful death.
t's hard to see the Founder's Dilemma when you are the business owner in the middle of it! Here are some signs to look out for:
(If any of these are YOU, call Kim Bynum Consulting stat! and let's talk!) CLICK HERE TO TALK TO DR. KIM
1. FLAT org chart (You at the top, then all of your employees in a blob reporting to you
2. All of your process/procedures/"how you do business" live inside your key employees brains and are not written down (formally) (I LOVE LOVE LOVE those laminated directions taped down next to the computer on how to do key tasks!)
3. You are hiring fast and furious, with no formal onboarding process. New hires are thrown in feet first with hope and prayers that they can quickly catch on because you don't really have time to pause and train them as well as you'd like
4. Your TOP employees (the ones you've had from the beginning) You know! Those ones with all that institutional knowledge in their heads!? They are BURNT OUT, feeling overwhelmed, underappreciated and undervalued (although they are still working their butts off trying to make it all work)
5. You have ZERO time for admin stuff, meetings, or time to discuss issues/challenges/problems because operational tempo is just too fast.
6. You have new or more customer service complaints than you ever had in the past
7. Your revenue (or key metrics) may be stagnant or trending DOWNWARD at a startling pace, yet there's no OUTWARD force/variable to explain the change