One of the most challenging things for business owners is to grow their mindset along side their business – transitioning from the ‘Worker’ mindset to the ‘Owner’ mindset.
Ray Moore categorises the different mindsets as the ‘hats’ the business owner wears. There are five hats that, these are:
Worker – Gets on with daily work tasks and activities – doing the do!
Supervisor – Delegates activities to others. Sets and aligns the priorities to achieve the plan. Also gets on with their ‘real work’ – doing the do.
Manager – Agrees milestones (budgets, plans, targets etc.) with the Director and delegates tasks to others in order to achieve the plan. In addition, they get on with their ‘real work’ – doing the do!
Director – Sets the direction of the business that will achieve the objectives set by the owner. They set and agree the Managers goals to ensure they are aligned and regularly monitor the progress against agreed milestones. In addition, they have their own priorities, which they see as their ‘real work.’
Owner – Sets the objectives of the business (the End in Mind). They inspire and enrol the Directors and ensure the direction set is aligned to the vision, then regularly monitor progress against the plan. In addition, they set their own priorities and spend a proportion of time getting on with what they see as their ‘real work.’
Which hat do you wear the most in your business?
In large corporations, job roles are often more defined and there is a clearer hierarchy. People are more likely to spend the most time wearing the hat that corresponds with their job title.
However, things are different in SMEs. The lines are blurred around roles and titles and the business owner is likely to wear many of the hats, from Worker to Director – and they probably change hats many times a day!
The key to successfully transitioning through the Levels and growing your business, lies in the proportion of time you spend wearing each hat. Getting too comfortable wearing the wrong hat is a real danger to your business and business growth, and can result in your business becoming short sighted.
In the definition of each hat, you’ll see that they all have ‘real work’ to get on with. Don’t lose sight of the end goal for your business, whether its security or freedom. The only way to reach it is by changing the way you think. And, if you don’t, you’ll be stuck in the daily grind forever.
Based on Ray Moore’s second book: Can YOU Step Up To The Growth Challenge?
Ray Moore and Andy Sleet cover this topic in more detail on the Fluid Business Podcast, listen below: