It is that time of the year again when a new year begins and everybody makes a resolution to make their lives better for the year that lies ahead. Many business executives have made a resolution that this year they will not do everything by themselves and have decided to expand their business. One thing, I am asked the most is, how to effectively delegate a team?
However, I feel there is some resistance from a bunch of people who believe that delegating a team takes up too much cost and time.
I have a tendency to spend money like water and profitability of my business has always been a challenge for me until recently. I attribute these challenges to countless mistakes I had made along the way. These mistakes are not related to delegating to a team, instead of how I was using my newfound time.
You can use your newfound time to sell
There is a league of executives and businessmen who are broke because they are swamped with tasks that don’t actually help them in getting any revenue out of their business. Delegating to a team helps a great deal in such a situation. When you delegate to a team, a lot of your time is saved which you can use to make more money for your business. Let’s take me for example, my team manages a lot of tasks for me, so I am left with enough time. I used this time to make more money for the business by taking consultation calls and pitching to new clients. I was
But the catch here is that this only works if you have some product/service in place, that you can sell. In case you have not come up with any service or offerings yet, the first task would be to do just that.
You save time when you hire somebody to fix something for you
Time is more valuable than money. I learned this lesson the hard way when I started my blogging journey. Any time I would face any issue on my website, I would try to save money by fixing these issues by myself. Since I was not adept at handling the technical side of things so efficiently, fixing my issues by myself ended up costing me even more because I would lose so much of my valuable time on something that could have been fixed in a jiffy had there been a team in place for that.
I now understand that this is the reason why it has taken me such a long time to have a successful business. I showed resistance in spending money to fix my problems when I could have put that time to better use by getting more clients and more sales. But what was I doing? Trying to fight the code, which is not worth the hassle.
Consulting experts are a boon for the business
One of the upsides of delegating to a team of experts is that they can come up with suggestions and advice that can help you make a lot of money. Let me explain this with an instance. There was once a coaching client that told me that her accountant needed a W-9 from me. I sent the email to my accountant who then stepped in and advised me against it. My accountant made me understand that a W-9 is not necessary and will only waste more money and time of the team
I have given you enough evidence about how delegating to a team saves you your precious time and helps you make more money. I am sure you must be convinced by now about the benefits of delegating work to a team. If you have not started delegating till now, do it! You will see the results.