Running your own business can feel a like a very lonely place and many business owners feel that they have to do everything themselves, it's their business, their livelihood and so they should take responsibility for all that goes on.
This not only puts a great strain on their time but is also mentally and physically draining, working long hours trying to get everything done. Inevitably this can have a very detrimental impact on their business.
The truth is they are not alone, there is an awful lot of help they can tap into, internally from staff or externally from third parties; the rule of thumb should be, “If it can be delegated, delegate it!”
Letting go can be a very difficult thing to do; no-one can do it better, faster, more efficiently or with more passion than you, so better to do it yourself and know its done “just right” than entrust import tasks to others.
But the reality is that whilst no-one is going to be as passionate about your business as you others may well be better trained or skilled or more experienced to do certain things for you. We can't be experts at everything and there will be people who are able to do certain things far quicker, more accurately or simply better than we can. You shouldn't do your own bookkeeping or design your own website, redecorate your offices or do the basic day-to-day stuff within your business. Engage others to do this for you. Yes, you have to pay these people to do it but doing so frees you do what no-one else can.
And this is the key point.
Delegating what can be delegated to others frees your time to concentrate on the really valuable stuff that can't be delegated. The “cost” of paying others should really be viewed as an investment as it is outweighed by the value you can create with all the time you have freed up.
Whether this is winning new customers, creating or sourcing new products/services, training staff, spending time nurturing relationships with existing clients or taking control of your cash flow you will actually have time to manage your business.
Delegation isn't abdication; don't delegate and forget, utilise the time saved to focus on the results and performance. Use the management information your bookkeeper provides to control and protect your business. Delegating to staff allows them to develop and grow; appraising performance, training and mentoring greatly enhances this and gives you assurance they are doing it right!
There's only 24 hours in a day, use them wisely, and that includes making time for yourself and your family. If nothing else delegation should at least help you achieve that most precious of commodities.