CEOs are often type-A personalities: work obsessed, competitive, and high achievers. Because of these characteristics, it’s often difficult for CEOs to delegate tasks to employees. In turn, less gets done, or you spend too much time on smaller tasks. Unfortunately, a high workload can also result in stress. The burden of responsibility, which leads to stress, can affect your health, and that’s not good for business either.
So, take it from me. Stop over-doing it! It’s time to delegate some of your duties to your employees. Let them share the responsibility, and by doing so you’ll also be empowering them to take charge and help support the growth of your company.
Routine tasks are important, but not where you need to be putting your energy. When you delegate tasks such as handling routine emails, answering the phone, running errands and other administrative tasks, you are freed up to get out into the world and build those important relationships to grow your company.
If your business relies on online marketing and sales, then you need an IT professional on hand. If you are spending time trying to do it yourself, or on hold with technical support, you are seriously losing money. You may think you are saving money by doing it yourself, but how much revenue could you be bringing in while you are putting out fires, or your network is down for the count. Since so much of my business is online these days, I finally brought someone in house for our web work, and it was one of the best business moves I have ever made.
Tasks Based on Ability
Have an employee that majored in accounting? Get her off the phones and on the books. Smart delegation means recognizing strengths and weaknesses, and assigning tasks based on skill and enjoyment. (It’s also important to spread around enjoyable tasks. Hoarding fun tasks to yourself, or employing one person to do them, can cause misery in the workplace. Take a poll and determine what your employees consider fun, and what jobs they deem boring, and then spread those tasks around to the right people.)
Activities That Speed Up Cash Flow
Delegating your business activities will help speed up cash flow. Whether you hire an intern, start with part-time, freelance or build your own in-house team, if they are helping get the job done faster, that means even more support for your clients, more production and more consistent cash flow.
Inspect what you Expect
Just because you delegate does not mean you should just drop it their lap without inspecting their performance. If you don’t check in on the status and quality, they will feel you don’t care, and there may be some big mistakes happening. Make sure they are trained well and that you have check-in’s in place to monitor your business. They will feel great if you are happy with their accomplishments, so give them the best opportunity to excel.
The Bottom Line
Growing a business takes a lot of effort, but that effort shouldn’t be done by you, you and you. As a type-A personality, you may find it difficult to let go of the workload. Keep in mind, that by delegating tasks, you’re actually growing your business and working smarter, not harder. Part of being a CEO is stepping up as the leader and visionary you are!
I will give you the inside scoop on how I have built my success team and how I keep them motivated and on target with our goals. The strategies I am going to share with you will be easy for you to apply, even on a limited budget. Stop feeling overworked. It is time to feel overjoyed instead!
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Voice for Business Success
Allison Maslan, CEO of Pinnacle Global Network, The World Leader in Scaling Businesses. She is the Wall Street Journal Best Selling Author of, Scale or Fail, which is endorsed by Daymond John and Barbara Corcoran of Shark Tank. Allison’s built 10 successful companies starting out at age 19. Her client list has included Ben & Jerry’s, Supercuts, Charlotte Russe, and Allstate.
Now she and her team of CEO Mentors pay it forward by helping business owners scale their companies, fast-track their success and create a more meaningful life. The Pinnacle Global Network, her private mentoring and mastermind enterprise has guided thousands of business owners over the past 10 years. Allison’s been featured in Inc., Success, Fortune, Fast Company and Forbes Magazines, is a regular contributor to Entrepreneur Magazine and a featured expert on ABC, CBS, NBC, CNN and Fox across the US. Allison has also hosted her own podcast, The Scale or Fail Show, since 2011.