For many entrepreneurs, their business ventures are like their baby. They went have worked tirelessly to nurture during its early stages, protect it from harm and help it grow. So, it is understandable why many business owners have a hard time letting go, and instead insist on doing everything themselves.
If this sounds like you, the commitment you have towards your enterprise is commendable. However, you might be hurting your business, instead of promoting its growth. By handling everything, you spread yourself too thin, thus leading to suboptimal performance. Instead of juggling every task, what you should be focusing only on areas that you are strongest, which will deliver maximum productivity. For the other responsibilities, you can leverage the strengths of other people, for example, your employees, consultants, outsourced personnel, etc.
Why Should You Rely on Other People in Your Business?
1. It will allow you to focus on things you are good at
By handing over some of your responsibilities to your employees, outsourced personnel, and consultants, you will free up a lot of time for yourself. This will allow you to focus on more important tasks, which will benefit the overall business. For example, by handing over some of your more mundane responsibilities, you will be left with more time for strategy development and the identification of growth opportunities.
2. It will reduce bottlenecks in the business operations
Bottlenecks, or stalls in the business flow, are something that can easily occur when you are handling too many responsibilities – you are spread too thin, leading to reduced performance. Handing over some of the responsibilities allows you to capitalize on the underutilized resources (employees, consultants, etc.), which will help to get more things done. This will increase efficiency, and consequently, boost the productivity, profitability, and growth of your business.
3. It will empower your employees
While it might be possible that you are good at everything, involving your employees in the running of your business might yield better results than by going it alone. By handing over some of your responsibilities to your employees, you help them to develop their capabilities and improve their skills. Not only does this help to improve the productivity of your enterprise, but it also acts as a safety net in the event you become unavailable. Therefore, you can count on your employees to carry on as normal when you are not around.
4. It will give you access to a fresh and objective perspective
In business, you cannot know everything; there will always be another person who has a different and potentially better idea. This is why it is important to leverage the strengths of other people in running your business. By doing so, you can get fresh, insightful, and objective perspectives, which can help to improve the productivity of your business venture.
Effective business leaders are individuals who can focus on their strengths, and then delegate the other responsibilities to people in their organization. If you have been slow to embrace delegating, now is the right time to start. Do not overwhelm yourself with everything. Instead, hand over some of your tasks to another person on your team and focus on what you do best. Your employees, your business and you will all benefit.
You can find additional articles from Michael Roub at Inflection 360 Articles.
Michael Roub is an experienced strategic consultant and Managing Partner of Inflection 360. Michael advises businesses and healthcare practices on a wide range of strategic initiatives.