Tired of having to take care of everything? Stop it already!
You have a vital duty for your business and you can’t accomplish it if you are doing everything else.
Below are some examples of tasks that you should NOT be taking care of yourself.
I’ve mentioned this before. In order to be most effective at building wealth for yourself and your company, you must allow your staff specifically hired for these tasks to do the technical work.
Just like you are the expert at leading your company and creating wealth, your staff are the experts at doing their jobs. Make sure everyone is working where their specialties lie.
Finance and accounting work
Just like technical work, you should not be slaving over the balance or income sheets of your company. Leave this to the finance professionals and accountants that you have hired.
Being knowledgeable as to where you company is financially is very important, however this can be accomplished by being given a summary by your financial staff. Reviewing your financials may be necessary at times, but make sure to limit this to only on occasion.
Your staff are experts at the technical work. You may not be qualified to supervise the work in which they specialize in. Furthermore, supervising does not create wealth.
Therefore if you spend your time with basic supervision, you are taking time away from what you do best. You are also depriving someone else from doing an effective job at this supervision. This will create inefficiencies if you don’t ensure that everyone is utilizing their strengths properly.
You may be getting sick of looking at a messy office with dirty floors, but spending too much time cleaning up is not going to generate wealth for your company. Hire a cleaning service to take care of the dirty floors.
Please note, however that cleaning is not the same as being organized. Ensuring that you remain organized is something that you should be committed to doing in order to remain productive. Losing a piece of paper you just placed on your desk isn’t the makings of a productive environment.
I am a horrible violator of this. However that is why I can tell you for certain that you should not be doing this yourself. Sure it saves money but it does not save you time and it pulls you away from making the valuable decisions that you need to.
Good customer service is vital. However your voice is not the first that your customers should hear when they call your phone number. Delegate customer service to another staff member. Consider even empowering this staff member to make certain decisions themselves to make unhappy customers happy again. This way you aren’t tied up making routine decisions.
If something is routine, it can most likely be automated. If automation is too expensive, it can most certainly be delegated or outsourced. Stop performing these routine tasks and assign them to someone else.
You should not be researching anytime after the initial start-up phase. Once you start generating some revenue and you want to continue to explore new ways to bring in income, delegate the market and competitive research to someone else. That way, you can get started on your next idea instead of getting tied down to all of the technical work.
If you have the funds and are going into any expensive/advanced marketing, it is advisable to hire an expert. This may be obvious for most cases, nonetheless, don’t underestimate the value that a marketing expert can add to your campaign if you have the funding.
This goes for internet marketing as well. Search Engine Optimization, Pay-Per-Click, etc can all be effectively managed by an expert and achieve far better results than if you handle this yourself.
In a perfect world, all entrepreneurs will have enough money to ensure that the experts are taking care of all of these things. This is clearly not the case. If you don’t have the money to delegate everything where necessary, do your best to assign the most time consuming tasks and the ones that require the most specialty to someone else. You won’t regret the results.