As business owners, it can be tough to let go and trust that our businesses can run without us. We often find ourselves spread too thin, involved in every aspect of the business. And as our business grows, we become even more critical to its success, making it harder to let go and delegate.
But here's the thing, when the time comes to sell your business whether it's next year, 5 years or 20 years down, this overreliance on you as the key person can significantly impact the valuation of your business. So, what's holding you back from delegating and letting go?
Sometimes, we become addicted to being the super busy business owner, always being the hero who solves every problem. But this addiction to busyness is counterproductive and can hold us back from reaching our full potential.
One simple strategy that can help you get started on the path to working smarter is to create an organizational function chart with a couple of layers. Focusing what the business does, not who does it. This chart be broken down by functions of the business and not people.
Once that's completeed, now just put your name next to each function that you currently fill and own. This exercise will help you realize just how much of your time is being consumed by various roles within the business.
Once you have identified where you are spending your time, you can then start to delegate and prioritize your focus on the most strategic aspects of your business.
And I'm not going to lie; it's not always easy to let go. You might think that you're the best person for a particular job, or you might not trust that someone else can do it as well as you can.
Understand this... with the right training, documentation, and coaching, you can successfully delegate these roles and focus on the strategic aspects of your business that will help it grow and increase its valuation.
So, if you're a business owner feeling stretched too thin and struggling to let go of some of your responsibilities, I would love to chat with you. We can strategize ways for you to delegate and focus on what matters most while still growing your business.
Together, we can help you work smarter, not harder, so you can enjoy life more while still achieving your business goals.
Reach out and schedule a complimentary strategy session to discuss how we can make this happen for you and discover the power of coaching. Let's work together to achieve real results and create the life you truly deserve.
Check out our other Business Tips to Work Smarter not Harder
Learn strategies to improve your productivity by working on the most value tasks instead of the most urgent
Learn strategies to create recruit and keep motivated employees aligned to the vision and mission of your business.
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