Whether you have heard of this phrase within business or not, every company will have these ten hats, if you will.

This is comprised of:

  • Shareholders
  • Director
  • Leadership
  • Product/Service Development
  • Operations
  • Marketing
  • Sales
  • Finance
  • HR
  • Admin/IT.

The problem with these ten hats is that often one person is wearing far too many of them and trying to take care of everything, which will not be helpful for your business in the long term.

Organising and delegating the different hats will make a big difference to how your business functions, and will ensure that there are clear roles within the business with different people responsible.

Four key principles of a well-organised business

  1. There should be one leader overall and then one different leader for each hat. Someone could take on two hats but the leader of the business should not overlap with anyone else and there should only be one person for each hat otherwise it can be confusing to know who is truly in charge.
  2. You can be in charge but still delegate tasks to people. Sometimes people overwork themselves because they believe they must personally take on every responsibility for their hat. Delegating tasks correctly will lead to better organisation.
  3. Understanding each area’s function will be beneficial before deciding the responsibilities that it will carry.
  4. Don’t designate a person responsible for one of the hats based on their traits. Instead, examine the role and what qualities will be most important before deciding who should take charge.

By implementing these changes and focusing on who is in charge of what will be beneficial for many reasons.

  • Increased efficiency
  • A more sustainable business
  • No neglected areas within the business
  • Expectations are better known
  • Less chance of burnout.

As a leader, these benefits will apply to your business, your team and you.

Doing too much will not always result in the best outcomes, so it is important to take some weight off your shoulders and ensure you are employing the best leaders for other areas within your business.

We can offer more advice on this concept of ten hats, contact us today.

Posted in Advisory Insights, Blog.