“If you want something done right, do it yourself.”
Stand by this quote, and your quality of life and firm will suffer.
As an entrepreneur who strives to be the go-to person for their clients, the words “I need help” are probably the hardest to utter. To some, it implies weakness, and to most, it brings up fears. Fears such as “Who can I trust?”, “How can I afford it?” or “I would have to spend too much time training - I may as well do it all myself.”
Meanwhile, you see your competitors delegating and thriving. And you are aware that behind every successful business, there is a great team.
So is it possible that your fears are limiting your success?
Let’s Put Your Fears to Rest
Ask yourself these questions:
Are you spending potential billable hours on tasks that do not generate revenue?
Is your workload so overwhelming that it is hard for you to see the big picture of your firm?
Do you feel like you will never achieve a healthy integration between work and your personal life?
If your answers are yes, NOT delegating should scare you more than anything.
Many believe it would take longer to train someone than do the work themselves. Well, of course it would take you less time. You have been doing it for a while. You cannot expect others to accomplish a task they are attempting for the first time at the same pace you usually do. But you would be pleasantly surprised at how much time you can save and the additional revenue you can generate in the long run.
Just imagine taking an extra 5-10 hours to train someone and having back 20 or more hours every week. Now multiply those 20 hours by your billable rate. See why it is worth it?
You put that fear to rest. However, now you wonder, “how can I afford to hire someone right now?” The interesting thing about that question is that you feel you cannot afford to hire because you are spending too much time on tasks that are not generating revenue. When doing those tasks, you are basically working for free. Delegating will free you up to spend your hours on more productive matters. In the end, not delegating affects your profits more than hiring someone.
3 Steps to Start Delegating
1. Determine What to Delegate
List all your frequent responsibilities and the ones you need to complete for specific projects. Do not forget to include daily tasks such as answering emails and managing reports.
Your list of tasks is ready. Now, which ones should you delegate?
Delegate tasks that don’t generate revenue. As mentioned before, you work for free when you cannot bill your clients for what you are doing.
Delegate tasks that require skills you don’t have. You can learn about accounting or marketing, but it will distract you from working on what only you can do. Hiring an expert would be more efficient.
Delegate tasks that are a burden for you. You should not feel stressed about what you don’t want to do. Instead, find someone who enjoys it. It’s all about playing to your team’s strengths.
2. Find an Aligned Team
Regardless of what you need to delegate, you must ensure that your team shares your vision, goals, and values.
Identify the required skills and experience to complete the tasks. It will help you determine who the best fit is. Technical skills are critical but do not forget to consider soft skills such as problem-solving, communication, and interpersonal skills.
Consider all your options. You can delegate to an existing employee; you can hire or outsource. But make sure you avoid choosing the same person within your team all the time. Instead of feeling rewarded for their performance, they might feel penalized with the additional workload.
3. Delegate Efficiently
Delegating requires planning, effort, and patience from everyone involved. When you learn to do it the right way, your team will play to its strengths, and the workload distribution will be fair. The success of your firm will rely on team efforts!
Anyone who tries delegating must trust their team. You are used to getting things done your way, but you could discover new ways. Allow your team to use their methods, and do not always impose yours. Here are some tips to delegating efficiently:
Communicate the expected results. Make sure to agree on timelines, checkpoints, KPIs, anddeadlines. Also, have them confirm their understanding of the assignment.
Ask if they have the necessary resources. They must feel free to ask questions and speak up if they need training or specific tools. Make sure you don’t take that for granted.
Focus on results when tracking progress. Avoid micromanaging, or they will not feel comfortable. Your responsibility is to communicate your expectations efficiently. Theirs is to figure out how to do it and get it right.
Create a motivational plan. Include your team in some decision-making and recognize their efforts.They will understand how valuable they are to the team and feel more confident.
At first glance, delegating can seem complicated, but the reality is that the pros outweigh the cons. Can you think of something better than an aligned team? It’s time for you to create yours!
Remember to identify what you need to delegate, determine the required skills and experience, communicate your expected results, and promote motivation! What are you waiting to improve the overall productivity of your firm? Your fears cannot limit your success now that you know how to delegate like a boss.
Watch Put Lyd On It!: Delegating Like a Boss to learn more.
Schedule an introduction meeting with the DesCPA Business Advisory Team if you need to delegate your financial management.
Check out Get Staffed Up if you need a virtual administrative or marketing assistant.