Magazine article Management Today

A SECTION FOR ENTREPRENEURS: Building to Last - Time to Delegate

Magazine article Management Today

A SECTION FOR ENTREPRENEURS: Building to Last - Time to Delegate

Article excerpt

DILEMMA: I can't believe it, I just forgot my quarterly review meeting with the bank. I was so wrapped up in finishing the technical spec for our big pitch with the Americans that it slipped my mind. It wouldn't be so bad if it was the first time. My finance director and our venture capitalists will be furious. We'll need the bank onside whether we win the order or not.

ISSUES: Oh dear! Why is this really happening? Is it just a sticky patch and a symptom of overwork, or are you fundamentally out of your depth? If you don't ask yourself this question, you can be sure that the bank and the venture capitalists will. The reality for most chief executives in smaller growing businesses is that they don't have enough time to do everything. Their life is one of constant prioritising - especially now, when many have cut back so much.

A wonderful image to have in mind for these situations is the effectiveness-and-pressure curve. This curve is a bell shape with a vertical axis marked Effectiveness and a horizontal one marked Pressure. No pressure, no output; the right amount of pressure results in peak performance; and too much pressure leads to headless-chicken behaviour. …

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