by Real Business - Thursday, 30th August 2007

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Q I’ve always been a hands-on boss - I like to know what’s going on. The problem is that there never seem to be enough hours in the day and increasingly I find I am unable to concentrate. Time management doesn’t help. What can I do?

A You’re showing the classic signs of stress. If you carry on trying to understand every problem and make every decision, you’ll harm your health and endanger your business. Tell all your managers that for the next eight weeks you’ll be working on a "special project": investigating new markets, spending time with the family or writing a strategy paper. Whatever the excuse, make it clear you’re giving them decision-making authority.

During the two months, take at least two weeks’ holiday. The rest of the time, restrict yourself to a 40- hour week. Take time off for leisure activities: play golf, tennis, have lunch with your partner. In eight weeks’ time you’ll have learned a lot of new things about yourself, the business and your managers. And then you can concentrate fully on the things that matter.

Q I started my business with two guys who’ve been instrumental to its success. But now we’ve grown tremendously, and their skills haven’t kept up. What the hell do I do?

A I don’t want to alarm. But you’re about to make one of the most important decisions of your career. So before you change your team, make sure you’ve come to the right conclusion. Familiarity breeds contempt, after all. You may be too close to your colleagues to make an objective judgement.

,p> Talk to some people you trust, both senior colleagues and shopfloor workers, to gauge their views (without undermining the managers in question). Be prepared for some home truths. Maybe it is you that is not growing with the business. Or perhaps you’ve failed to help your managers grow into their new role.

If the consultation confirms that your managers have lost their teams’ respect, you have to talk to the two managers as soon as possible. They have demonstrated talent in the past and know a lot about your business, so you may hope they’ll take more junior roles while you recruit someone new. At this point most people run to HR, who will warn of constructive dismissal and tribunals. Listen to their advice but don’t necessarily take it. A formal interview doesn’t help you to retain your managers’ trust and future employment.

Don’t be surprised if they take the news badly. But whether they accept demotion or redundancy, be generous. Give them much more than your HR manager and finance director recommend. The managers might be in conflict with you now, but never forget that they helped you build the business. For your long-term peace of mind, don’t penny-pinch. You’re in for a difficult time - good luck.

Do you have a question for Timpo? Email him at timpo@realbusiness.co.uk. And don’t miss his new column, "Timpo in the Tub", on p98.

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