From investing in different types of equipment leases to obtaining working capital, there are some things business owners must do themselves. However, knowing when and where to pass on responsibility to others is an essential part of succeeding in business.
Not enough hours in the day
Running a small business can be hectic, with a seemingly endless list of tasks to accomplish on any given day. Meeting all your objectives by yourself is next to impossible, and attempting to do so can leave you feeling burned out.
It’s for this reason business owners should focus on delegation as a way to not only streamline their operations, but also reduce the burdens they must shoulder.
How to delegate successfully
Your first step is hiring employees you can depend on. After all, if you don’t feel you can trust workers to accomplish tasks to your satisfaction, you’ll be less likely to give them responsibilities.
So first and foremost, cultivate a workforce you can confide in and lean on when necessary. Not all of your employees need to be management material, but having at least one or two workers who you can turn to when necessary is vital for successful delegation.
Next, you must determine what tasks can be handled by people other than yourself. It’s all too easy to micromanage every little detail of your business, but this is a time-waster that will likely end up doing more harm than good.
Start considering different aspects of your business that can be handled by trusted employees or outsourced entirely. Examples may include social media marketing, IT support and employee scheduling.
Finally, it’s also necessary to differentiate between tasks that can be delegated and those that should stay in your own hands. For instance, utilizing software for bookkeeping is a great way to make the process easier. However, chances are you’ll want to be the person in charge of this. Bookkeeping can impact everything from your income to how much you pay in taxes each year, so you should always be the one who is putting pen to paper, so to speak.
Hiring is another area of your small business where you should be the deciding voice. You’ll want to know who is applying to work for you and be able to meet them in person before making a final decision on who joins the team.