If you’ve read our prior blog post on revving up by using a team to get to a higher level, you’re probably starting to think about what is your specialization? What you do best and how to get focused on it? How do you build this team around you? How do you get moving? How do you get into that next gear? There are a number of things you can do.
#1 Get Focused on What You Do Best and Start Spending More Time doing it. Build your business around your strengths. Identify things that you’re not great at and make a list. Take the time to think about the items that you want to delegate to others.
#2 Start to Delegate. This is very tricky and hard for most entrepreneurs . . . but it has to happen. The thought of giving up just a little bit of control, makes some entrepreneurs uncomfortable. However, this is necessary to move to the highest level. I recommend entrepreneurs delegate in stages – do it in steps. The first step is to take something small that’s routine for somebody else and start delegating to them. Now, this doesn’t necessarily mean you need to hire your first employee.
At some point, I’m going to recommend that you build an internal team. I know there’s all the rage of virtual teams and using outsiders and working with people on a fractional basis and that’s great for the short term. In the long-term you’re going to have to build your team, but we’re not worried about that right now. Right now, we need you to take the step of delegating some task that’s not your core competency, that’s not your economic value driver, and delegate it to somebody. What you want to do when delegating is to have clear expectations in your mind. What needs to be done? When does it need to be done? What does that deliverable look like?
Now, the first couple of times you delegate, you’re going to have to spend some time monitoring the training of others. This is okay. You make get the impression that you’re spending more time delegating than if you had done it yourself. This is normal. This is part of the process. We’re looking at long-term time savings over the course of six months or a year and eventually, a decade. That’s more time you could put on your core activity, over time. Any time savings is a win and as long as the cost is not ridiculous to delegate, you’re going to spend more time with your core activity. You are going to add economic value. You’re going to make more money. This is going to pay off. The marketplace is going to react.
You are going to be adding more of your previous value driver and you’re going to be spending less of your own time. This is a good investment. You just need to make the investment. Make that investment one step at a time. Think. What non-core activities can I delegate? What can I move to somebody else? How can I start to focus more and more and move to a higher level, so that I can do more of what I’m great at . . . so I can accomplish more of what I’m being paid for? I don’t need to be the Jack of all trades. I just need to be really great at one thing.
What have you delegated? What is your experience been with delegation? What are you doing to move to the next level?
This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. This article should not be treated as legal advice to any person or entity. Freeimages.com/ harald kharly.
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R. Shawn McBride — R. Shawn McBride is the Managing Member of The R. Shawn McBride Law Firm, PLLC. Shawn works successful, private business owners in their growth and missions to make a company that stands the test of time. You can reach R. Shawn McBride at email@example.com or (214) 418-0258.
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Make sure you download our free reports on how to build your company the right way: http://www.mcbrideattorneys.com/report-library/About the AuthorR. Shawn McBride — is the Managing Member of The R. Shawn McBride Law Firm, PLLC. Shawn works successful, private business owners in their growth and missions to make a company that stands the test of time. You can email R. Shawn McBride Law Firm or call (214) 418-0258.