Never surrender your control. The biggest challenge as an entrepreneur is trying to lose control over the critical aspects of your business like talent acquition and retention, customer relationships and quality service delivery.
Any business leader must identify areas where they must win. Thereafter, invest to win. And then protect the win so that it is sustainable.
In your family for the example, if you are the husband or the head of the family, you must identify the top 2-4 things which you must control. Once you lose control over those areas, you lose your family, and everything will fall apart. You must not lose control over disciplining the children. Never lose control over your managing the relationship with your partner. Never lose control over values in your home – school comes first, then entertainment. If the kids are doing badly in school, no rewards in form of entertainment UNLESS they demonstrate progress, etc.
Sometimes, we find ourselves giving some people control. We bring them into our space. Suddenly, they suck all our energy and start taking us on a ride. That is a tell-tale sign of a bad leader.
From a strategic point of view, the leader must identify the key influencers and the critical areas to influence. They must then manage the power dynamics such that the influencers are always on their side and once they see a shift in allegiance, they must act instantly and decisively if they are to retain their control.