Are You Making This Profit Killing Mistake?

“Delegate or Die!”

Your business will at some point completely die if you don’t learn to delegate. The ability to delegate is one of the hallmarks of any good entrepreneur.  Delegation happens when an owner gives responsibility and authority to an employee or outside service provider to complete a task.

Delegation works two-fold.  One is that it develops people in your organization who are ultimately more fulfilled and productive.  And for the owner, delegating frees you to attend to more critical parts of the business, like marketing and selling.  I have talked before about a similar topic called MOAs or Major Outcome Activities.  It is very-very important business concept and one that bears repeating.

Basically the concept states is that there are activities that have the largest impact on being able to experience your major outcome.  For major outcomes related to income, your MOAs are those activities, which earn you the highest number of dollars per hour.  In other words, MOAs are the things you do, that pay you the most.

The point I am making today is that, it is nearly impossible to focus on MOAs if you are working on non-MOA activities, like answering in-bound phone calls. And it is impossible to outsource MOAs without first learning to delegate.

Delegate as defined in the dictionary is: “To give a task to somebody else with responsibility to act on your behalf.  To give somebody else the power to act, make decisions or allocate resources on your behalf.” Sounds good, right?

Delegation requires some new skills.  Skills that could be described as managerial.  One of the best ways to manage people is to give them procedures.  Here is what I mean.

If letting go of a non-MOA activity in your business is a bit daunting (and trust me it can be, especially if you’ve always done it and you have your particular way of doing it) then take gradual steps.

  1. First, decide what is the first task that you want to delegate.
  2. Write down the correct way to perform this task in detail, step by step.
  3. Clearly spell out the expected results of this delegated task.
  4. Have someone do this task using these directions.  It is critical that you be available to answer questions at this point.  You don’t want to micro-manage but make sure that you are able to track the progress and performance.  Have this person revise the instructions you gave them if necessary.
  5. Place a copy of these instructions in your company’s “operations manual.”  (An operations manual is simply a book that spells out how to perform every task in your business.)

Start slow with this process.  Try delegating one thing to start with.  And get it right before moving on to the next one.

 

Related Articles:

How to Leverage Every Hour You Spend Working

How to Identify the “Blind-Spot” in Your Practice

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Brian J. Kay, Executive Director, Leads4Insurance
921 Port Washington Blvd., Suite # 3 Port Washington, NY 11050
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