Your business is your baby.
It’s an overused metaphor… but there’s a lot of truth to it.
Everything has to be perfect.
Marketing materials need to be a certain way, the phone has to get answered when it rings, the right words need to be said at the right time, and not a single close-able deal should go un-closed.
Otherwise, how is your business going to grow!!?
Even though it goes against every bone in your entrepreneurial body, the truth is that perfection and holding on to your business with an iron fist isn’t the key to growth — but thoughtful delegation and working on “Quadrant 2” activities is.
In fact, the opportunity cost of not delegating is so high that it should make you sweat.
Let me show you what I mean with a few questions…
Question 1. What can YOU do that no one else can do?
Believe it or not, you serve a unique position within your business… a position that no one else can fill.
You care more than anyone else about your business’ success. You are dedicated to its growth. You’re even willing to work without getting paid.
Because of that, only you can work on certain things within your business.
Think of it in terms of Stephen Covey’s four quadrants…
You can hire people to operate in quadrants 1, 3, and 4. After your business grows and you have enough money, those three quadrants can almost entirely operate without your help.
But you know what quadrant can’t operate without your help?
Quadrant 2 — relationship building, networking, business growth activities, hiring people, internal process improvement, etc…
Those things require your attention… and they have to happen in order for your business to grow.
But the problem is, if you spend so much time in the other quadrants, then you’re going to spin your wheels without making real progress.
The longer you’re in business, the more you need to move out of quadrants 1, 3, and 4… and into quadrant 2, the activities that only you can do.
Question 2. How much would you pay yourself per hour?
How valuable do you think your time is?
Go ahead and try to answer that…
Do you think you should get paid $50 per hour? $100? $1,000?
Now let me ask you another question: how much would you pay someone per hour to do the work that you’re doing?
If you find that you’re spending most of your time on $10/hour or even $20/hour jobs, then that’s a serious problem.
Don’t get me wrong — there’s a season where you have to do everything for your business.
But you shouldn’t keep doing everything for your business.
You’ve got to let go of the menial tasks so you can focus on doing things that are worthy of your time.
Remember, you’re the most valuable employee of your company and you’ve got to use your time wisely.
Question 3. Do you want to be a “one-man show”?
In the entrepreneurial journey, there’s a point where you sort of have to be a one-man show.
You have to find the deals, talk to the sellers, coordinate with the buyers, and do the paperwork.
You’re the ship, captain, and crew.
That’s a natural part of the process.
But you don’t want that to last forever. After all, you became an entrepreneur so you could have more freedom, not less.
And delegating tasks to talented people is how you build a business that gives you the freedom you crave.
So… are you going to let up on the reins a little bit?
Are you going to let other people have responsibility so that you can focus on what really matters… the tasks that can grow your business?
You’ll be glad you did.
And if you want to easily delegate phone-answering, we have a top-notch service that answers the phone for 175 investors around the nation — we’d love to help you, too. You can take a demo over here.