So you started your own business, congratulations! Somewhere in the middle of the social-media posting, tax calculating, invoicing, paperwork filing, and inventory keeping… you lost your vision.
The passion that drives an entrepreneur and small business owner can also lead them to lose sight of their dream when they are forced to deal with the day to day business operations. Running a business and creating a business are two very different things. The creation is where entrepreneurs shine. They excel when they discover a problem and find a solution that could and hopefully will be profitable. The struggle comes when shaping the vision of the company is secondary to keeping the business afloat.
It is easy for entrepreneurs to never want to let go. There is a natural possessiveness to owning your own business. It was your idea; it is your name on the door. The idea that anyone else could ever do what you do or have the same passion for your business can seem impossible.
However, this lack of trust holds back entrepreneurs and business owners from achieving their goals. What separates a business owner who is working themselves to the bone and one that is successful is their ability to delegate. As an entrepreneur the biggest challenge can be letting go, but here are three BIG ways that delegation can help:
Delegation provides the opportunity to lead.
One of the most difficult moves for an entrepreneur to make is the shift from doing to leading. Delegation does not mean that you are any less ambitious or invested. It is your job as the visionary and business owner to lead your business into the future. When you are leading, you are empowering others and creating room for your business to grow.
Delegation creates time and financial efficiencies.
You know that you are more than capable of doing whatever needs to get done for your business.. In the beginning, you may have had the energy to get it all done. The energy to take on the world… but burnout is real. It is easy to imagine that you can grow arms and handle it all. There is truth to the statement “time is precious” and even more truth to “time is money”.
Does it make sense for you to be spending your time doing everything? Can your business actually afford for you to do it all?
Delegation provides the opportunity to focus on your company’s top priorities.
When you spend all of your time fixing problems aka pain points it is easy to lose sight of what you need to do to grow. When your head is down all the time and your energy is focused on executing, there is no time to think of your growth. Delegation can be one of the most important tools for growth.
Smart entrepreneurs see a need and decide to solve it. When entrepreneurs delegate authority and their pain points to their staff or outsource those needs, they are able to focus on their passions not their problems. Think BIG. Passing the baton is an important step.