Regardless of the business you’re in you’re not going to be able to build a viable, thriving enterprise without the help of others. This is where some entrepreneurs get stuck. Many of us fall into the rut of trying to do it all ourselves even as the business grows. And that’s where problems can begin.
Alfred Peet, founder and former CEO of Peet’s Coffee & Tea, Inc., admits his biggest mistake was not being able to delegate. Quoted in an Inc article, he said, “I know exactly where I want to go, but I can’t explain every thought, every idea I have for the future of this company. Many people left. I was burnt out, so I had to sell. Do you know what it’s like when you’ve given so much, there’s nothing left?” He sold Peet’s Coffee in 1979 after 13 years in business.
Burn-out takes its toll and the business feels the stress. [Read more…]