As the business grows, the role of the business owner will change and adjustments to the functions, structure and roles of the company’s personnel will need to be made. 

Sometimes this is not easy for the business owner to do. The original tasks or duties that he/she carried out, and may have felt comfortable doing, may need to be taken on by others. Or, the business owner may not have the opportunity to use his/her original skill or competence that made the business grow in the first place as he/she takes on other responsibilities including paperwork and administration. This can often be a source of frustration.

At the same time, the business owner must learn how to give up control and let others take over certain responsibilities in the business. The business owner cannot do everything, and trying to pretend that he/she will only stifle the growth of the business, and may lead to staffing problems. In some instances, a business owner may have to step aside as the CEO or MD to allow others with more appropriate skills to run the business.

Very few, if any business owners, have all the skills needed to effectively run a business, particularly as the issues become more complex. Business owners need to recognise this and seek advice and training to overcome deficiencies and skill up for the future. Specialist skills may need to be brought into the business through consultants or certain functions may need to be outsourced. Recognising weakness is important in self-development and working to improve skills will greatly benefit the business in the long run. 

Finally, as the business grows and new structures come into place, business owners can often feel isolated as they have no one to talk to about business issues and problems. Many small businesses cannot afford the luxury of having someone else, besides the owner, in a senior managerial role leaving the business owner with no one to talk to about key issues and problems. In this instance, it is a good idea to find mentor, either paid or someone you know and respect from business or a trusted peer that can listen and provide you with advice and guidance. There are also business support networks that bring together business owners to discuss issues and provide advice. Many business owners find these very helpful, and these forums not only help with personal development, but can aid in your business growth through contacts made.

• realise that your role as a business owner role will change as the business grows and figure out what you are best at doing
• give up control, as appropriate, and let others take on responsibilities so the business can grow
• recognise weaknesses, and develop your skills with advice and training
• seek out a mentor, trusted peer or business support network that you can talk to about your business issues.