DILEMMA: I'm finding it increasingly difficult to keep track of everything that takes place in my small, but growing company. In what areas should I be delegating day-to-day running to a manager and how can I set up an effective hierarchy of authority?
ISSUES: The number-one issue has to be you. Are you thinking like an owner? How ambitious are you for the business? It is important to get these things clear before you consider what you are good at, what you have time for, what's missing and so on.
The job of the smart owner is to make sure that his board or management team has the right strategy and the right resources to implement it successfully, to run the business smoothly and to comply with all the necessary regulations.