Why Every CEO Should Surrender More
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The more I try to control my business, the more I prevent it from growing.
Repeat after me.
The more I try to control my business, the more I prevent it from growing.
Effort vs. Surrender: Why Letting Go Is Essential for Growth
When a company is just getting started, it requires significant energy and effort from its founder(s). I can look back at my own recent experience, building this consulting company and the finance company that sits inside of it, and realize that’s true.
But the older (and wiser?) I get, the more I recognize that holding on too tight, too long, ends up choking the thing I am trying to grow.
When I choose to surrender, and let go, things happen faster. And bigger. And with less movement from me.
Because it was never really about me in the first place.
How to Identify the Right Amount of Letting Go
“That’s a nice sentiment, Eric,” I hear you saying. But what does surrender look like anyway? How do I know when it’s time to move on?
I use three guideposts to help myself and other CEOs identify the right amount of “letting go” inside the business.
1. Friction
If I consistently encounter too much friction around a particular issue, it’s a sign that something needs to change. There’s no point continuing to bang my head against the wall. Either I make an adjustment, or I decide it’s not worth worrying about.
2. Effort
If I need to put in Herculean effort to solve a problem—I opt out of taking action. Again, the early stages of business involve plenty of hard work. But a scaling company should not need heroics in order to operate effectively.
3. 80/20 Rule
I can choose the few items I care passionately about, where I’ll be deep in the weeds of getting the details right. But that can never be more than 20%. I must let go of the other 80% (and ideally, create the right vision so I am not executing on the 20%, either!).
The Myth of Control: Why Letting Go Is So Difficult
Why is giving up control so difficult? Because of the myth that many CEOs, especially those with companies $10M or under, mistakenly buy into: The more I control my business, the better it will be.
This belief is patently false. No matter how superhuman you are as a CEO, you’re still just one person. You’ll never achieve alone what you can accomplish with a capable, accountable team supporting you.
When you lack the ability to let go, you can’t focus on what’s most important. You can’t truly step into the role of CEO. And you’ll probably struggle to live that great life your business is supposed to offer you. You’ll be overwhelmed and overworked—and nobody ever performed at the top of their game being burned out.
Bringing a great team on board will make surrender easier. So will learning the right communication skills. Even developing strong processes makes giving up control more feasible.
But at the end of the day, it starts with a decision. A decision to trust and let go. And to see how far—so much farther than you might expect—that choice can take you.
Struggling with the mindset around delegation, letting go, and trusting your team? You might benefit from Executive Coaching. Contact us to find out how we can help.
