Most business owners wear many hats. At some point, it makes sense to get help. You can outsource some jobs, such as accounting, HR or cleaning. You may choose to delegate jobs to employees. The difference between outsourcing and delegating is just in how they are paid. Outsourced jobs are subcontracted to another company, while delegated work is usually internally through your own business. To be a great leader, you need to learn how to delegate or outsource tasks to free up your time to focus on what only you can do.
Learn to Trust Others
Many entrepreneurs hold on to certain tasks because they worry about someone else doing it wrong or not as well. It can be difficult to let go of things, but as your business grows, you will not be able to manage all the details. You have to divide up the labor. It may not be easy at first, but you can find people who will be good at handling things for you.
Think About Your Time as Money
As a business owner, you could be out on the streets drumming up business or you could be cramped up in your office managing the mountains of receipts, aka bookkeeping. Maybe you don’t mind doing the books, but if it takes you four hours, what is that time worth in new business? You can’t simply think about how much you would pay an employee to do the bookkeeping. You have to compare that figure to what you could ultimately be doing for your business.
Types of Jobs to Outsource
You don’t have to outsource or delegate jobs that parcel out control of your business. You may want to turn over your website design to a person with experience. You could outsource your social media marketing or content creation. Tech support, customer service or shipping and receiving are all types of jobs that can be outsourced or delegated to make your life less stressful.
Contact Coastal Commercial Lending for financing options that can help you take your business to new heights.