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For example, your accountant needs certain facts to achieve thetask of budgeting and forecasting cash flow for your business.You need to supply him/her with the necessary information to getthe job done. You must understand the process and know what youneed the outcome to be. You must also communicate theseobjectives clearly and monitor their progress (but not so oftenthat they wish they never met you). Set meeting times forupdates and a time line for completion. [link widoczny dla zalogowanych]
The key is to identify good people, enlist them in your cause orbusiness, give them the ball, and then allow them to run withit.
Find Experts and Build Partnerships Jack of all trades, masterof none. The old adage holds a lot of weight in today'sentrepreneurial environment. [link widoczny dla zalogowanych] No one can possibly [link widoczny dla zalogowanych] run a smallbusiness alone.
The Power of Delegating It is quite liberating once you reallydo let [link widoczny dla zalogowanych] go and put your trust in other people. So don't ruin itby being a control freak! Remember - before delegating the job,you decided that this was not your area [link widoczny dla zalogowanych] of expertise. You knowwhat I mean [link widoczny dla zalogowanych] - the feeling that nobody else could do it as wellas you - even though you don't know how to. If you know that youhave controlling tendencies , you must learn to be a good clientand give your partner all the information they need to do thejob in line with your expectations.
Most important, you must understand how the critical pieces ofyour business fit together to form [link widoczny dla zalogowanych] the whole so you can makesound and effective business decisions. Should you notunderstand these processes, you [link widoczny dla zalogowanych] run the risk of losing control.
Do not over-delegate. Excessive delegating can lead to disaster.A complete hands-off approach is abdicating your businessresponsibility. Let's take the example of your relationship withyour accountant. Not being a CPA is no excuse for notunderstanding the budget of your company. You must understandhow the budget works and be accountable for it. You must also beable to communicate this information to the relevant people inyour business.
One last note: It is nice to want to do all [link widoczny dla zalogowanych] the work yourself.For one thing, on the surface, it appears that it will save youmoney. However, time is also money and your time has a value. Intoday's world, being a "Jack of all Trades" is more likely tomean that you do a lot of things averagely.
It is important to surround yourself with competent [link widoczny dla zalogowanych] experts whohave complimentary areas of expertise. Choose carefully andwisely and be ready to compensate these individuals for a jobwell done. These people are your business partners - people whowill give you the advice and information you need to makedecisions. When you build excellent relationships with yourpartners, you may be able to arrange better terms. Payment neednot [link widoczny dla zalogowanych] always come in the form of dollars. With strong partnerrelationships you may be able [link widoczny dla zalogowanych] to trade your expertise for theirs.
How do you fill the gaps in your expertise? Let's consider areal life example. My own areas of expertise lie in business andoperational management, understanding people and coaching. Thisis my business. When I wanted to create a single web-page tomarket a workshop I was developing I had to make a decision. Ihave (very) rudimentary skills in web page creation. While allof the software I need is at my fingertips, the question is "DoI really have time to learn it?"
I ask myself: "Should I spend several hours - probably a wholeday if I'm being honest - learning to grasp the software anddesign my own web-page" Or should I spend some money and hiresomebody who already [link widoczny dla zalogowanych] knows the software?" Then all I need to dois supply the content.
You Can't Do It All - Learning To Delegate
In making your own decisions, the key is [link widoczny dla zalogowanych] in determining what youneed to know, want to know, must know, and already know. And howyour time would best be spent.
There is not a single management skill more critical to yourpersonal and professional success as an entrepreneur thanlearning to delegate. But [link widoczny dla zalogowanych] delegating successfully is much morethan simply handing out assignments. It is more an exercise inunderstanding and accepting our own strengths and limitations.
If you understand your individual strengths and establish strongtrusting partnerships to complement these, then your businesshas experts working for it in all areas. And that knowledge iscomforting.
I am tempted to go it alone - after all, I love technology andknowing how to use it (that's my ego talking!). But at the endof the day, my time is better spent working on other aspects ofthe business. So I outsourced the job.
Anyone who has their own business will know that they couldnever have gotten it off the ground without the help of at leastan accountant and a lawyer. Perhaps you also needed a graphicdesigner or administrative assistance.
In this fast paced world, we must choose what activities itmakes sense for us to do ourselves, and what it makes sense tolet go of. None of us can be an expert in everything - notbecause of any lack of intellectual ability, but more because welack specific exposure or experience. We must learn to acceptthis fact and be OK with it.