How to Delegate to Grow your Business and Have a Life!
You’ve worked hard to achieve financial freedom. It’s natural that after all of that hard work–after carefully, painstakingly constructing your kingdom–you’d want to control every aspect of it. But here’s an unfortunate truth: you can’t. Trying to control everything yourself is a recipe for collapse.
For one thing—what if something happens to you? If you’re a business owner, there are probably quite a few people who are depending upon your continued success. This doesn’t just apply to your loved ones. You have employees who depend on you for their paychecks. You’re responsible for other people’s livelihoods!
Building Your Legacy
Daily Finance insists that one of the keys to Warren Buffet’s success is delegation or, “the hands off approach.” By delegating some of the investing duties to business managers, Buffet is ensuring that his empire will continue to thrive even after he’s gone.
Another important thing to consider is that by delegating parts of your business, you’re doing more to build your company and your legacy than if you kept everything shrouded in an air of mystery and rigid control. Trusting employees and managers helps you earn their trust in return. It might seem counterintuitive, but here is the truth: delegation breeds loyalty and respect.
Think about it: why would an associate choose you, someone who insists on doing everything yourself, over a company promising them responsibility and growth?
As the business owner and CEO of your company, you need to be creating your vision, strategizing to reach that vision, building relationships and delegating.
Of course, knowing that you need to delegate is different than knowing how to delegate. So how do you do it?
Hold On Loosely
An article published a couple of years ago in Small Business Trends recommends learning how to let go. This is definitely where you are going to struggle the most. It’s one thing to ask someone to help you with something or to do something for you. It’s another to actually allow them to do the task the best way they know how. By stepping in and controlling the way a delegate does something you’re not actually delegating. You’re micromanaging.
You can also delegate without losing touch with your business. There’s a difference between “handing off and being hands off”. It will take time, but you need to learn how to give others responsibility while still keeping tabs on and understanding everything that happens within your company. This way you get to feel like you’re in control while also improving your productivity and building the trust and loyalty of those operating under you.
It takes time to learn how to delegate well. You’re probably going to make quite a few mistakes along the way. What matters, though is that you keep trying and don’t use those mistakes as an excuse to go back to doing it all yourself. After all, you’re not after temporary success. You’re after long lasting and sustainable success!
Allison Maslan is a serial entrepreneur of 10 of her own companies. She is a No. 1 Bestselling Author and pres. of Allison Maslan International where she mentors big thinking entrepreneurs to grow high-revenue businesses and healthy and passionate lives in her year long mastermind program, The Pinnacle. Allison has been an expert guest on ABC, CBS, NBC and Fox Stations across the US. She is also interviewed in the upcoming 2013 issue of Success Magazine. Grab a copy of her FREE CD, 8 Millionaire Secrets of Successful Entrepreneurs. http://www.myblastoff.com/freecd/