Hands-Off CEO Podcast

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How to Get Your Team to OWN It! Delegating Ownership – E92

Delegating ownership frees up time for CEOs so they can focus on the business. Mandi Ellefson talks about the right way to let go of your business and hand the reins over to capable leaders, and how this helps you actually work on growing the business.

 

Key Ideas:

  1. The challenge with delegating ownership is that if you don’t scale the right way, you’ll find that your client results start to decline, Mandi shares. Oftentimes, you can find yourself in a position where you need to be hands-on with the project in order to fulfill promises you make to clients. This is the entrapment cycle. [2:38]
  2. “One of the things that we’ve noticed is that a company can have a really great operations leader, but if they don’t have years of experience operationalizing a custom high ticket service, then they’re going to really struggle to be able to make that work in the company,” Mandi explains. [5:11]
  3. Hands-Off CEO helped one of their clients, Jack, reposition their business to a subset of the part of the business that they were already doing, and create a compelling offer. This enabled them to bring in multiple six figure types of clients. [9:06]
  4. You don’t hire strategists – you train them. [11:07]
  5. Many CEOs mistakenly believe that they manage people. 
  6. In fact, they manage agreements between people. This mindset makes it easier to define and communicate what success looks like and what expectations leaders have for their teams. [12:42]

 

Resources

Mandi Ellefson on LinkedIn | Twitter | Facebook

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Mandi Ellefson

Mandi Ellefson

Mandi Ellefson helps service businesses with the tricky task of becoming scalable. Her passion is helping freedom seeking entrepreneurs scale the better way– for success in their business and in the rest of their life. Out of a decade+ experience and testing as a business manager, and then building and selling a design business, Mandi has created a system that is responsible for generating tens of thousands of dollars of new revenue for businesses she's worked with.

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