The Lone Wolf Mentality

-- Written for an IEDA Group (www.ieda.com) quarterly publication 2021. --
There are many challenges you will face as your businesses grow and evolve. From adding employees to working with new manufacturers, each of these is an extension of your business's reputation. When many companies start, reputation falls on the shoulders of one key person. That person's reputation becomes the company’s reputation, which is easier to manage when it is just you. When new people join the company and start speaking on your behalf or representing your organization, this is where transitioning from this lone wolf mentality, one key person, becomes essential.

This scenario is common in independent equipment sales. Your business starts with you. You know your equipment inside and out, are charismatic by nature, build relationships effortlessly and have a knack for finding the right deals to make money. You have little overhanging business structure, and you make decisions by instinct. Your company is growing specifically because of the drive, passion, and trust people place in you. You are your brand.

Then you hit a crossroads. You have the opportunity to add on additional employees or a new equipment line, or you want to set up this company for family members' future involvement. This reputation-building process and the things you do are intuitive and part of your personality, but now as you grow, how do you capture that instinct, drive, and trust you have earned with your lone wolf mentality?

As you begin looking at this transition, there are a few principles to keep in mind:

You must be intentional.

If you want your business to extend beyond you, then defining your intentions is critical. Is your goal to sustain the company for future generations? Is it to grow into new markets or new areas of expertise? Define your expectations as you bring employees. Your expectations establish a clear direction for growth and build a foundation for your company outside of yourself.  Here is a good exercise for this: Examine where you want to be in the next three, five, ten years.

Through this exercise, you may be satisfied where you are at and prefer the lone wolf mentality. The extra responsibility and risk that comes with employees may not be what you want. You may be most effective on your own, and that is a good thing. You still have taken the time to define your intentions.

Focus on what you do best.

When companies bring employees on, they often start looking at new markets and new areas. Many times this leads to failure. As new employees come on, resist the temptation to look at new categories or new equipment lines. Focus on what you do best and having your employees embrace that. Then you can take small steps into new areas. Small continuous improvement over large drastic changes is the goal.

Give the benefit of trust to your employees.

How do you teach someone all of that knowledge or have them meet the same expectations and level of service with whomever they interact with at your company? It starts with giving your employees the benefit of trust and responsibility. The large majority of us do not think like this by nature. The instinct you have in sales is not something that you can easily set aside or rely on someone else. It is part of your identity, and it is hard for you to pass something over to an employee and not jump in to close a deal or handle a situation. This is required due to the experience you bring to the table, but you must keep looking forward, building your new employee.

If you build up your company and your customers can expect the same level of service, integrity, and honesty dealing with you as an owner, with your family member, or with your employee, then you are headed in the right direction. It is essential to have everyone on board with the idea of taking ownership of the company's reputation. Giving your employees that level of trust and responsibility allows your customers to do the same.

In the future will look at tactical actions you can make in your businesses as you grow to help this transition. Your company's decisions will no longer depend on just one person, and that opens your business up to new opportunities. That control is hard to give up, that trust can be hard to give, but this intentional foundation will take your company into the next generation and provide direction to your marketing.