As a business owner or entrepreneur, it is typical to want to control everything that happens within your business and make all decisions. Giving yourself this role can be fulfilling at times to know that you are in 100% control of decisions. However, as the business and team grows it can be nearly impossible to stay effective in this role.
Decentralizing command is especially important if you have multiple businesses, teams, or departments. It allows for leaders within each sector to focus on their specific roles, while you as the business owner can focus on bigger business goals. There is such a value in creating this style of leadership in your business. Therefore, we have put together a list of why decentralizing command is essential to your business’s growth.
Benefits to a Decentralized Team:
- Motivation is increased across the entire team & teammembers work harder
- Increase in creativity; team members are empowered to create their own ideas and solutions to reach their goals
- A sense of freedom is instilled in team members; they are given the opportunity to make their own decisions
- Creates opportunity to develop your peopleandhelp them grow
- Builds trust and confidence between you and your leaders
In an interview with MIT Sloan Executive Education Professor, Tom Malone, he is confident that “in our increasingly knowledge based and innovation driven economy, the critical factors of business success are often precisely the same things are those benefits of decentralized decision making”.
Coach’s Tip
Decentralizing command creates massive leverage for you, as the rainmaker, and it empowers and creates new opportunities for many of your team members. However, the only way this process will work for you is if you’ve hired TALENTED individuals to your real estate team!
One major area of the hiring process that Metrix encourages you to focus on in order to best determine if you are bringing talent into your world, is understanding “track record” of your candidate. Go back to the candidate’s most recent formal education and get “their story”. Have them name each event that occurred (career, family, travel…anything of significance) and discuss with them the highs and lows experienced during each event/period of time. Continue to ask prodding questions like “how did that make you feel?” and “if you could do it all over again, what would you do?”. Identify the themes in their stories – do they battle back after a failure, are relationships important to them, do they speak of “winning” and competition…look for themes that you believe display the behaviors of talent and “fit” for your organization.
Therefore, take some time to think about what areas of your business need decentralized leadership so that your business can continue to evolve and grow!