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- iHaveNet.com: Small Business Guide
Real Small Business
Some small business owners are proud of the fact that they do everything for their businesses themselves. But it doesn't always make business sense to be a one-person operation. In fact, you should delegate as much work as you possibly can if you want your business to thrive. If you don't, chances are you'll always be short on time, long on responsibilities, and standing still in business.
There are three key reasons why small business people say they can't delegate. Some common excuses are listed below.
Read on to find out why they don't hold water. Then use a worksheet like the one described below to help you figure out what responsibilities you can delegate.
Money
"I can't afford to pay someone to do this for me."
It's short-sighted to avoid delegation because of the financial investment it requires.
Yes, you will have to pay someone to do something you can do yourself. But if you're a consultant who charges $100/hour, should you be using your time to stuff envelopes? Use the time you free up by delegating to find new business. This way, you'll still be making some money on the tasks you contract out and you'll be making money on the new work too.
Time
"It will take too much time to train someone. I can do it faster by myself."
Not having the time to train someone is often a smoke screen for something else like a fear of giving up control.
If this is your rationale, write down all your tasks and how long it would take to teach someone to take care of them for you. Then choose one or two jobs that are the easiest to farm out and start with them. This will gradually get you used to letting go of routine responsibilities.
Quality
"No one can do this as well as I can."
This is the oldest excuse in the book; it's probably also true.
But it's not a reason to avoid delegating. A person you hire may not do something as well as you can. But think about the job this person can do for you once he or she is trained. If you determine that only you can complete certain tasks perfectly, you have two choices: save them for yourself and delegate other tasks, or settle for having something done well instead of perfectly. Lots of times, a very good job is sufficient.
Delegating Worksheet
Use a worksheet to determine how you're using your time.
Use it over the course of a week or two to see how much time each task (whether important or menial) takes you. You might find out that you're using a lot of time for certain jobs that can be easily delegated out.
Your worksheet should have three columns:
1. Task / Activity
2. Time Spent
3. Delegation Plan
Use the "Delegation Plan" column to record your ideas for steps necessary to farm out a task. Include a list of possible candidates.
Use it over the course of a week or two to see how much time each task (whether important or menial) takes you. You might find out that you're using a lot of time for certain jobs that can be easily delegated out.
Small Business Guide
- Starting Up Your Business
- Coming Up With a Winning Business Idea
- Common Startup Mistakes
- The New Rules for Startups
- Business Incubator FAQs
- Naming Your Business
- Researching Your Business
- Your Personal Savings
- Registration, Licenses, and Permits
- Getting a Tax ID Number
- Fast-Growth Startup Resources
- Structuring Your Business
- Overview: Corporations
- State Offices of Incorporation
- Incorporate Out of State?
- Writing a Partnership Agreement
- Choosing a Board of Directors
- Basics of a C Corporation
- Basics of an S Corporation
- Basics of an LLC
- Basics of a Sole Proprietorship
- Basics of a Non-Profit Corporation
- Basics of a Professional Corporation
- Basics of a General Partnership
- Basics of a Limited Partnership
- Your Company's Public Relations
- Elements of a Successful Public Relations Campaign
- How to Use Your Press Coverage Effectively
- Press Releases
- How to Write a Successful Press Release
- Sample Product/Service Press Release
- Sample Commentary Press Release
- Sample Event Press Release
- Sample Tips Press Release
- Sample Personnel Press Release
- Effective Competitive Analysis
- Managing Purchasing to Maximize Cash Flow
- Top Six Pricing Mistakes Businesses Make
- How to Avoid Lowering Your Prices
- Bidding Basics
- Hiring Staff
- Creating an Effective Job Description
- Do You Know How to Pick Them?
- Little-Known Hiring Resources
- Classifying Contract Workers
- Tips for Successful Interviewing
- What You Can't Ask in a Job Interview
- New Hire Paperwork
- Small Business Insurance
- Types of Insurance for Small Businesses
- Small Business Insurance FAQs
- Insurance Resources for Small Businesses
- Home Office Insurance: Myths & Realities
- Small Business Resources
- Government Resources for Small Business on the Web
- Resources for Women Entrepreneurs
- Fast-Growth Startup Resources
- Small Business Security Resources
- Taking Time Off
- Your Pre-Vacation Checklist
- How to Take a Vacation
- Learning to Delegate
- Getting Away When You Can't Get Away
- Preparing for Tax Season
- Year-End Planning Tax Savers
- 10 Ways to Pay Less in Tax
- 25 Common Business Deductions and Expenses
- Avoid These Common Errors and Audit Triggers
- Understanding the Home Office Deduction
- Corporate Income Taxes Primer
- Employment Taxes Primer
- Sales Tax Primer
- Sole Proprietorships and Partnerships Tax Primer
- How to Get a Filing Extension
- Year-End Reconciliation
- Getting the Most from Your Accountant
- Developing Accurate Financial Projections
- Cash Flow
- 10 Ways to Help Increase Your Cash Flow
- Cash vs Accrual Accounting
- Bookkeeping and Record Keeping Basics
- Quick Ways to Get Through a Cash Crunch
- Projecting Cash Flow
- Cash Flow Triage
- Getting Funding
- Cash Flow Through Factoring
- Small Business Investment Corporations (SBIC)
- Traditional Funding Sources
- Non-Traditional Funding Sources
- Your Company's Credit
- How to Read a Business Credit Report
- Credit Terms Glossary for Your Small Business
- How to Protect and Improve Your Business Credit Rating
- Give Your Business the Financing Edge
- Employee Compensation
- Employee Benefits
- Bonuses: How To Be Fair
- Workers' Compensation Q&A
- Keeping Workers' Compensation Costs Down
- Payroll Management Choices
- Key Elements of Payroll
- Working with a Payroll Service Provider
- How to Create a Business Plan
Starting Your Own Business - Learning to Delegate
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