Delegation: the Secret of Prosperous Entrepreneurs

The typical entrepreneur’s "Achilles’ Heel" is that they spread themselves too thin, work on too many tasks at the same time, start new projects constantly and micromanage projects and details that they should delegate. They become overwhelmed by the increasing demands on their time and begin losing the passion for their business and working harder without getting the results they want.Your success and freedom as an entrepreneur depend on your ability to focus on what you love and do best and eliminating and/or delegating everything else. You should focus on the activities you’re brilliant at, passionate about and that will take your business to the next level.Harv Ecker, CEO of Peak Potentials Training, offers this sage wisdom on how Poor vs. Wealthy Business Owners think about business. Which one are you?Poor:  Struggle because their business is dependent on them.Wealthy:  Set up a business that works without them; using teams, delegation and systems.Poor:  Play it safeWealthy: Take risksPoor:  Do everything themselvesWealthy: Create teams and delegateMany entrepreneurs know they should delegate but find it challenging to let go. So many fall into the trap of doing everything themselves – being a lone ranger. It takes a village to operate and grow a successful business.

How Can You Learn To Delegate?

The good news is that delegation is a skill that can absolutely be learned. The first place to start is with your mindset. To leverage the skills of others effectively, you need to be willing to:

• Believe that success is possible
• Examine your reality - what’s working and what’s not
• Experiment and take calculated risks - engage in the process of growing your business and developing professionally
• Assess your productivity - being busy doesn’t  always mean you’re being productive
• Recognize that the primary purpose of your business is to serve your life, not the other way around

Dan Millman, in “Living on Purpose” tells us: "In the real world, those of us who are most productive, successful, and satisfied focus not on fixing feelings or manipulating thoughts, but on what needs to be done - and then doing it - no matter what thoughts or feelings arise."

4 Common Myths About Delegating

Myth #1: "I'll lose control of my business if I delegate and things will fall through the cracks." Are you a control freak?Reality: There is a wide range of freedom and authority that you can give to your team member. When you use a delegation and team building system, it will allow you to manage the process effectively, instead of micromanaging people.Myth # 2:  "If I want something done right, I have to do it myself." Are you a perfectionist?Reality: Other people can do the tasks as good as, and many even better than you. Yes, really:)  Delegation will bring you massive results when you build a team that is focused on doing what they’re brilliant at and are the best fit for you.  Moreover, when you learn effective delegation techniques, you can ensure that things will get done the way you want.Myth # 3: "I can't trust anyone else with my business." Reality:  If you want to achieve success, risks are necessary for business growth. Delegation requires a calculated risk where the potential benefits (ROI) and costs are weighed. Many of us have natural tendencies that can keep us from letting go. When I did my DISC Behavioural Profile I learned strategies to modify my perfectionist tendencies that would hinder me from delegating effectively. I got a comprehensive understanding of my gifts and weaknesses, which helps me with team building – to choose the right partners and teach others how to best communicate with me.Myth # 4: “I can’t afford help.”Reality: You can’t afford not to delegate! There is a simple formula that guarantees you a high return on investment in outsourcing.  You will need to know:

1. How much your time is worth hourly or how much more revenue you could generate in a month if you had more time
2. The hourly cost of outsourcing a specific task

Here’s an example of the formula:Your Virtual Assistant spends 10 hours on tasks taken off your plate: Investment = $300 With 10 extra hours you’ve gained, how many new clients could you handle?1 client = $300 you break even 2 clients = double your ROI 3,4, 5 .. clients? You get the idea!You will get an even higher ROI when you delegate revenue-generating activities!It’s important to recognize though, that ROI is not only about money. Often an idea is viable if: it moves you closer to your vision of success; if it will increase your credibility with clients that would lead to more opportunities, or if it will give you an emotional feeling of fulfillment or completion. I call this creating a “wealthy lifestyle”!Prosperous entrepreneurs have gone through the growing pains of letting go to get the help they need. Robert Kiyosaki, author of Rich Dad’s Guide to Investing, tells us "The moment you begin to think of time as precious and that it has a price, the richer you will become." Are you ready to make a change? What would it be like to enjoy more success, freedom and create a wealthy lifestyle with delegation? What resources do you need to help you? What is the first step you need to take?

Take the pain, guesswork, wasted time, energy and money out of hiring and delegation. Give yourself the gift of time and the freedom to create a wealthy lifestyle! As a member of the Mogul Mom’s community you’ll get a 25% VIP discount but don’t wait - this offer expires January 16. Let’s talk and see if this is just what you need. Schedule a call with me at www.ChatwithMichele.com.