Want to scale? Put down the cape.
Codie Sanchez. Photo: Getty Images
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Codie Sanchez, the founder and CEO of Contrarian Thinking, owns laundromats, car washes, and multiple service businesses. She’s also built a following of millions by teaching people how to do the same.
For her new book, Own or Be Owned, she surveyed 15,000 business owners and high-achievers and identified 12 distinct owner archetypes. In an interview on Nicole Lapin’s Money Rehab podcast, Sanchez talked more about the book and said that one of the most common traps she sees is the founder who insists on being the hero.
“If you’re a founder and you’re trying to be a hero all the time, you will eventually do as Spider-Man says, you’ll become the villain,” Sanchez said. “You’ll hate yourself and you’ll hate your business.”
Why the hero founder hurts the team
On the podcast, Sanchez compares the rush of being the hero of your own company to an outright addiction. As she puts it, “It’s the most addictive substance in the world to feel needed.” And she’s absolutely right.
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Being a hero feels great because it gives you the chance to save the day, close life-changing deals, and answer every question with confidence. But it also robs your team of ownership.
When you’re the hero, every decision needs your stamp of approval. Employees hesitate to be creative without your permission. New hires are afraid to learn on the job because they don’t think you’ll give them room to fail forward.
Employees don’t just want to trust you. They also want to feel like they’re being trusted. And heroes tend to trust only themselves.