Ep 93: Knowing `Which Hat to Wear When’ - Coaching Conversations

EPISODE IN BRIEF

Today, Nick and Chris discuss `what hat to wear when’ as you go about running your daily business. How do you break down responsibilities and roles? Are you still wearing every hat (as you did from day one?)

This episode asks you to consider the number of hats you wear daily; from your business leader hat to sales…. to your recruiting hat.

Learn how to rewire your thinking so that you save money by delegating the jobs you have outgrown!

It’s an eye-opener – so simple, yet so challenging for dedicated business owners.  See how you can begin to let go or change hats in today’s installment of Coaching Conversations…

Time Code/Show Notes

0.26  Intro: Business coach expert Nick Psaila and Chris Herbert talk about business hats and why you need them.

1.20  Your role needs to be evolutionary. You must grow incrementally, change, evolve, and swap the hats you wear as you need them. Some you’ll be able to give to someone else, and some hats you’ll always have to wear yourself.

4.40   Nick uses the NDIS as an example of how an organisation may delegate who wears which hat at what time…       

5.59   How do you know when to give that hat to someone else. How do you know you’ve owned that role for far too long? When you see that system is more powerful than you, you will realise you are not pivotal to that particular role.

7.40  Don’t find yourself in the business where you have become hostage to various roles that sap your energy and well-being. Have you fallen in love with your captor? Can you take 2-3 weeks off without it affecting your business? Have you made a monster of this ‘relationship’?

10.00   Are you making excuses for your business? Do you believe that no one else can do what you do? Do you make excuses to get out of social situations because you ‘can’t take any time off because of the business’?

11.52  If you feel like you are wearing too many hats, you probably are.

12.30   What are you really worth? Is your time worth taking an hour out of your day to do the mail run – or to pick up extras from the hardware? Can someone else wear that hat!?

Think about your personal hourly rate and note what you would save if you sent someone ELSE to do that errand. It’s a simple but empowering exercise!

14.10  What hat must you always wear? Your hat of Leadership and Training.

16.20 Do you wear your Marketing hat well or can you delegate this important lead-generating role?

16.55  Finance Management: if you don’t wear this hat accurately, the ATO will. Be across it. You can’t leave this hat on the nightstand. You cannot allow your bookkeeper to wear a financial management hat.

18.07   Operational management: this is less about systems and more about people. A hat you must wear. A hat that evolves over time as you give back to your company.

21.20  If you’d like to know how a business coach can help you change your ‘hats’, email [email protected] for more information on today’s podcast.

EPISODE SUMMARY       

Knowing `which hat to wear when’ begins with knowing your role in the company. Where are you today… and what role needs to be filled?

Secondly, how much are you worth to the business? This awareness helps you realise how important it is to delegate and free up your valuable time.

And the leadership hat. Wear it with gusto and pride; you are the leader of quality control and training. It’s your business to uphold the standards.

Thinking deeply about the evolution of your role - and the business itself – will give you the greatest idea of which hat to wear or when to pass those hats on to others.