What you should do
Take charge of the strategy of the business and focus on the big issues.
Hire the best people you can afford.
Let go of routine management tasks.
Give your managers the tools and authority to do the job.
Motivate and encourage your management team.
Develop the team’s skills, knowledge and understanding.
Make independence of management clear to all your stakeholders.
Maintain a sensible work/life balance.
What you shouldn’t do
Abrogate your responsibility for the management of the business.
Interfere in the day-to-day activities of your managers.
Undermine or criticise the activities of managers in the eyes of staff.
Introduce unnecessary and/or burdensome management systems.
Take credit for the success of other team members.
Allocate responsibility without authority.
Lose sight of your objectives and goals.
Be a strategist. Aim to spend at least a third of your time thinking about the future of your business. Try to work ‘on’ your business, not ‘in’ your business.