You’re Not The Smartest Guy In The Room: Knowing Your Place In Your Company

You’re Not The Smartest Guy In The Room: Knowing Your Place In Your Company
Strategy
Like Us On Facebook
Like Us On Facebook

Time is money and money is time. Unfortunately, we only have so much time to make the amount of money that we want to make. So when one variable depends so greatly on another, how can you increase one without having to increase the other? Well, you can’t. If you want to make more money then you need to devote more time. However, no one said that it has to be your time that you are offering up as sacrifice to the wealth and success gods.

It can — and should — be the time of others. The saying “you are your company” is a bit misleading. Yes, you do represent your company and if people don’t want to work with you, the founder, then they won’t want to work with your company either. But… you alone are not enough to make up your company. You will need help.

The most successful entrepreneurs are those that are the most independent. They are leaders — not because they lead people but because they do what they want, when and how they want it. Nevertheless, the fact remains that you can only do so much with the hours in a day and can only be in so many places at once. Whether you like it or not, you will need to hire employees to do the things that you yourself do not have the time to do.

This is obvious, no argument there. We all understand the concept of hiring and paying employees — no novelty there. The question that remains is whether or not your employees and their skills are being used most efficiently. Or, even more importantly, are you using your skills and your time most efficiently?

tumblr_lylins1fBb1r8h5zoo1_500

Not too long ago, I had a conversation with the CEO of Black Ocean. He was giving me some advice on doing business overseas and was kind enough to put me into contact with some of his friends in Turkey. He is basically living the life that I want to live; he is the CEO of an investment company and has started many other successful companies that are still to this day making him a very nice profit.

He has companies all over the world and somehow manages to stay on top of them all. Mind you, these are not small companies, but rather billion-dollar companies. So I had to ask: how do you do it? How do you have companies across the globe and not become overwhelmed? His response was simple: “I take a new project on myself, put things in order, and then when the time comes I find someone else to run them — someone with more experience and more knowledge in that particular field.”

What stuck out to me most was not that he had other people managing his companies — that was the only conclusion I could have come up with. What was more interesting, in my opinion, was his acknowledgement of other people being better equipped to run the companies that he himself started. The truth is that no one man can run a dozen companies. However, one man can manage a dozen CEOs that manage a dozen companies. This concept relates to every entrepreneur no matter whether they want to have businesses all over the world or just one single company.

You are not the smartest person in the world. You are not the most diligent or the most dedicated. People have this silly belief that in order to become successful and to build wealth, they must always be getting their hands dirty, always on the front horse leading the charge. This is not the case. When you first start a company then the entrepreneur does need to have sufficient skills to play every role — you never know what situation you may be put into and what you will have to do in order to keep things running smoothly. However, once you have a company that is established, you should take a step back and reconsider your role in it if your goal is to maximize growth and efficiency.

tumblr_mm7iozCrcP1r9gyqyo2_r1_500

Are you the creative mind behind the project? Are you the manager, making sure that every piece fits and runs smoothly? Are you the right person to handle the day-to-day, or would your company be better off having you handle the branding and general direction of the company? Is there any place for you at all in your company or should you hire others to do everything, allowing you to start on another project? I sometimes feel that companies would be better off if their founders would step aside and let people with more experience and more insight handle affairs.

I understand that a company is the entrepreneur’s child, his or her baby. But just as in parenthood, there comes a time when you should step away and let things run on their own. As an entrepreneur, you should not allow your ego to get ahead of you. There are people out there that can do what you do better — they just haven’t had the opportunity. You’ve created the opportunity, so now let them have it. Let them make more money for you than you could make for yourself. Devote their time to the cause and then devote yours to another.

In order to maximize efficiency — which is always the goal — you have to accept facts for what they are. You have to look at things rationally, step back and look at the numbers and statistics. Find where the weaknesses are and handle them. Take a look at your role in the company and make sure that it would not be more profitable to have someone else take care of your job while you take care of other things.

In the end, the company needs to do two things: make you money and increase the utility of the world. If you are making the world a better, happier place, are making an excellent profit and are able to do so without having to put yourself on the battlefield, then you have just won the war.

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Paul Hudson

A young writer, philosopher, and entrepreneur, Paul Hudson (@MrPaulHudson) has been writing for Elite Daily nearly since the start. Currently located in Manhattan, Paul Hudson primarily devotes his time between writing for Elite Daily and a mining startup in Turkey. He loves sharing his life experiences with his readers and makes sure to practice what he preaches.

More In Strategy

Strategy Joshua Fechter

10 Ways To Get Your Dream Job At A Top Tech Company

We all want an amazing career, but wanting something isn’t always enough to get it. And if that something is a job at a top tech company, your life just got a whole lot harder. Even though just getting an interview at a top technology company is extremely hard, there are ways to make it […]

Strategy Joe Belsterling

3 Things You Need To Know Before Crowdfunding Your Startup

More and more startups and entrepreneurs are turning to crowdfunding these days and not just equity crowdfunding (i.e. Wefunder), but rather, perk crowdfunding (i.e. Kickstarter and Indiegogo). Crowdfunding can be a great tool for startups and provides much more than just funds (e.g. market validation, a loyal customer base, early adopter market, etc.), especially for younger, […]

Also On Elite

Film

How The ‘Goosebumps’ Movie Will Lead New Fans Away From The Books

Dear R. L. Stine, I’ve got some good news and some bad news. The good news is, happy birthday! You’re hitting the ripe age of 71 today, and that’s just swell. The life you’ve led from Ohio to New York and beyond is amazing. While I’ve never met you, and probably never will, I’ll always […]

World

Patient Quarantined In Hawaii As Doctors Fear It’s The Next Ebola Case

An unidentified person has been quarantined in Hawaii and is currently being tested for Ebola. The patient’s symptoms and travel history were not disclosed, but deputy state epidemiologist Dr. Melissa Viray revealed that Ebola is usually only a concern if the feverish individual has traveled to West Africa. He or she is being treated at […]

Dating

Apparently Sexting Is The New First Base And Childhoods Are Forever Ruined

It’s Vanessa Hudgens’ fault. While we can’t say for certain that Vanessa’s racy pics to then-boyfriend Zac Efron (who later sent the pics to costar Corbin Bleu… and the rest of the world) were the catalyst for the nation-sweeping sexting epidemic, we can say she was the first person we can remember laying it all […]

Women

Respected Female Doctor Says Women On Their Periods Shouldn’t Make Big Decisions

A prominent United Arab Emirates (UAE) doctor shocked female professionals yesterday by reportedly proclaiming that women should avoid making important decisions while on their periods. Dr. Maryam Matar is internationally recognized as the founder of UAE Genetic Diseases Association and respected as a female leader. In front of a gathered crowd at Dubai’s annual Arab Women in […]

Life

A History Of Marriage Equality: Why You Should Care About Same-Sex Marriage Issues

This week, SCOTUS issued an additional order from its September 29 conference, which effectively denied review of all seven of the petitions arising from challenges to state bans on same-sex marriage. This paves the way for the legalization of gay marriage, and provides equal rights for same-sex couples under state and federal law. Many people […]