What You Should Know vs. What Your Employees Should Know

There is a lot that goes into founding and running a business. It is incredibly challenging and tremendously mentally taxing. As a founder I have to think about the marketplace, our product and/or service, our production, employee training, employee satisfaction, the competitive landscape, what a potential exit might look like, and the budget. 

It is a lot. 

With so many things to juggle, it is important to be mentally efficient - to only pay attention to things that demand my attention. The rest will only serve as noise that is distracting at best and detrimental at worst. Once I have a business off of the ground and the appropriate staff in place, I have a system for dividing what I need to know about vs. what my employees need to know about. Note: this system only comes into practice once the business starts producing revenue. Prior to that, you really do have to think about it all. Be prepared to lose some sleep.

What you should know

Once you have established successful business processes and your company can start operating like a machine, it is time to step back as the business leader. You no longer have to worry about day-to-day expenses, since you have someone in a role who can handle that. Nor do you have to worry about personnel issues, or minor marketing initiatives like your company’s social media account. At this point in your business, you need to step back and start looking to the horizon. Start thinking 18 steps ahead. Is there a competitor developing a product or service that emulates yours? Is there any potential legislation that could impact your industry? Is there anything in the news that might change the public’s perception of what you do? 

The key is to step back and take a look at the big picture of your company, and the path it is on. Do not worry employees with things that may take years to come to fruition. Those are things for you to know.

What your employees should know

Your employees should know how to do their jobs and how their role fits into the larger organization. That is it. Most entrepreneurs recoil when I suggest this to them. Most founders want their employees to know everything about the business. They want their workers to connect to their mission on an emotional level. They want everyone to watch the competition closely and they want innovation to come from everywhere. This is not the way to grow a successful business. The way to grow a successful business is to keep your employees dedicated and hungry. Do not tell your sales team that your product is leaps and bounds better than the competition. That will make them lazy. Instead, simply instruct them to sell. Tell them to use everything in their arsenal to close deals. Keeping those blinders on will ensure that no one rests on their laurels or gets distracted by things happening outside of your business. Let them worry about their own roles and responsibilities, and keep the rest of the thinking to yourself.