When you first start a small business, it’s only natural to try to do everything yourself in an effort to save on costs. But once you start growing, you’ll find that delegating tasks is crucial, so that you can free up your time and energy to focus on more productive aspects of your business.
So how can you tell if it’s time to make the investment and delegate something? Here are a few things to consider:
Does the math add up?
How much do you make an hour? Even if you don’t charge by the hour, figure how much your time is worth. Then find out how long a particular task would take a subcontractor to complete and what they would charge. If it makes sense financially, delegate.
Are you working for your business or on your business?
At some point, you need to start thinking more like a business owner and less like a person with a job. In other words, your role as an entrepreneur is that of a strategist and manager above anything else. If you’re on the fence about delegating a certain business task, ask yourself if the task is directly connected to the management of your business. If it isn’t, consider giving it to someone else.
Are you better off hiring an expert?
What if you’re not the greatest accountant, graphic designer, housekeeper, copywriter, or social media strategist all rolled into one? If you were to invest in a specialist, would it move your business further? Instead of trying to be good at everything, build a team of experts you can rely on. And remember, no one is good at everything. Focus on your strengths. Focus on what’s best for your business.
How does the task make you feel?
If it’s something that you hate doing, it is likely taking you longer than it should to complete it. It is likely draining you of energy and focus. It is likely affecting your overall ability to manage your business effectively. In some cases, it is likely not even getting done, let alone getting done effectively and in a timely manner. Sometimes, delegating a task simply because you hate doing it makes perfect sense.
Need a hand with your business’ brand? Call Kim Speed at Purple Moon Creative today!
