Are you in a Silo of One?
A common issue for many Founders, business owners and leaders is operating in a “silo of one”.
It’s often said that it’s lonely at the top, and CEO/MDs will confide in me that they don’t have anyone to talk with about challenges in their business.
You’d think that this isn’t a problem when there are Co-Founders or Directors working together, but it is.
Here are some real examples I’ve encountered over the years:
- Co-Directors not being aware of each other’s plan to retire, leading to significant succession issues.
- A Founder unable to speak openly with his investors about challenges for fear of not looking in control.
- Family members not communicating with each other about the future direction of the business.
- Decisions made solely by an entrepreneur which have resulted in costly problems to clear up.
The final example is something I’ve seen many times over.
When I’ve asked the entrepreneur why they made the decision and what advice they sought it becomes clear that they just decided on their own, often on a whim.
They were in a “silo of one”.
This is one of the reasons I enjoy facilitating peer-network sessions; sharing a challenge with others in a similar position can unlock new ways of thinking about a long-standing issue.
Sometimes, the process of working through a specific challenge with a professional is all you need.
Or you may want a regular sounding-board; someone who you can bounce your thoughts off and talk through a challenge before acting.
Whether it’s a working with a trusted paid-for professional or a more informal peer-level relationship, getting outside our own “silo of one” is important for all of us.