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Gain more by giving away

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“I’m too busy.”

“I don’t have time.”

“I have too many priorities fighting for my attention.”

Sound familiar?

In times where we are expected to do more with less and where immediate isn’t fast enough, we’ve all felt that way.

It’s worse when we think we must do it all ourselves.

That kind of thinking will make you less effective.  We all have the same amount of time in a given day.  There is only so much you can do, and while you can always do a little more, studies show diminishing returns for each extra hour worked; less time sleeping leads to increased mistakes and negative affects on health.

What is the solution?  Delegation.

The Oxford Dictionary defines delegate as entrusting a responsibility to another person.

There are several benefits to learning the art of delegation.  First of all, it allows you to have more time to do those things that only you can do.

Secondly, it helps you develop employees.  To effectively delegate, you have to clearly define the task, communicate the objectives, and explain its importance.  This gives the employee insight on the business they may not otherwise have.

Delegation also allows an employee to demonstrate skills you weren’t aware they had or to develop skills necessary for them to advance in their career.  Delegation is a key component of investing in your high-potential employees.

Delegation allows you to focus on what is most important for your business.  Effective leaders don’t allow their time and effort to be consumed by things than can be handled by others.  The more senior your role, the less time you spend “doing” and more time thinking and communicating.

By delegating, you maximize your efforts on those things that only you can and must do.  At the same time, you are building a stronger team, demonstrating trust, and teaching skills by allowing them to try new things.  Your company benefits because you are creating an environment where everyone is challenged and to put their skills to their highest and best use.

Stop trying to do it all yourself.  You’ll get more done by giving tasks away.

You may be missing out

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Like most entrepreneurs, you are used to digging in and doing whatever needs to be done. That’s how you started and built your business. It’s part of you. It’s in your nature. It’s the reason you are where you are.

But there comes a season where you can’t do it all and it seems like something is missing. Things that used to operate like clockwork just aren’t clicking anymore. You worry when you are out of the office. You wish you had more time in the day – to accomplish more and to spend more time with your family.

It happens to everyone who has a growing business. See if these statements hit close to home:

  • There is a lack of accountability on my team.
  • It seems like all my team does is fight fires.
  • I’m not sure everyone is on the same page.
  • “Tom” causes trouble but he hits his numbers and I can’t afford to lose him.
  • Our expenses are growing faster than our revenues.

Sound familiar?

If it does, it is time for a gut check. As the leader, what are you going to do about it? These problems won’t go away on their own, and they are likely to get worse. You can do one of three things: 1) pretend not know there are problems, 2) spend more of your time and effort to “fix” the problems yourself, or 3) you can ask for help.

Option 1 does nothing to resolve the issues. Option 2 means you have less time devoted to growing the business, less time for your family, and a lower likelihood of driving the results you need. Option 3 – asking for help – gives you best chance to get your team aligned, drive accountability in the organization, and gives you the freedom to focus on the vision for the company. And wouldn’t it be great to take time with your family knowing that your team was operating at a high level?

If this is where you find yourself today, find someone with the experience and expertise to help you. You need a fresh perspective from someone who isn’t caught up in the whirlwind of your daily business so you can right the ship.

Don’t miss out on better results at work. Don’t miss out on the opportunity to invest more of yourself in your family and your passions.

Your business is growing….why don’t you feel like you are winning?

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Your business is growing. You’ve got a great product or service, you know your customers, and you’ve assembled a stellar team. But something has changed. Profitability has slipped, tasks take longer to complete than they should, or your team is frustrated. What’s going on?

You are a victim of your own success. Every business owner goes through it. It is part of the maturation process for any business.

What are some of the reasons you’ve gotten here?

You need to quantify your sales pipeline. Are you investing time in customers or entire market segments that aren’t profitable? Are the wrong types of opportunities taking away resources from more valuable opportunities?

Your systems haven’t kept up with your growth. Systems can be tools, processes, and software. As your business grows – in volume, the number and type of offerings, or complexity – you need to re-evaluate how your team executes the critical business tasks required to meet your customers’ needs and make changes as necessary.

Your team is confused or out of alignment. You’ve added people and maybe even entire departments. Valuable, productive employees who once had their hands in all aspects of the business aren’t sure who does what any more. Efforts are duplicated or worse, missed completely. Everyone is working toward different goals. The company culture you’ve built begins to change.

The bottom line is you are fighting fires. The cost of fighting fires manifests itself when you don’t have time to cast your vision for the company or nurture the company culture. You and your team are busy, but your aren’t effective or productive.

Growing companies will go through challenging periods or even seem to stall. It’s a natural part of the process. The key is to make sure you evaluate the root cause and understand the reason(s) why and take decisive corrective action.