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Play to Your Strengths

For many business owners, it is not uncommon to feel that you have to take care of all aspects of business yourself for everything to run smoothly. However this is a fallacy. Often, it is the opposite that ends up occurring – instead of running the business, the business ends up running you and not much runs smoothly at all.

What I have observed is that business owners who play to their strengths and choose to delegate tasks and responsibilities to others more suited and qualified to undertake such activities are better off. The business starts to thrive and the owner begins to feel empowered and energized as positive results flow. This is largely because the owner, who in many respects is the “engine room” of the business by his or her revenue generating capacity, has time to do what he or she is best suited for and does not end up having the opportunity cost of spending time on tasks that can be best performed by another.

I am working for a client currently who has delegated the responsibility of managing a number of his critical business functions to me in the capacity of general manager. The results have been impressive, financially and operationally. This can be attributed to the fact that he has more time to service existing clients and convert new opportunities, whilst through my services the business is being run in the background. He has chosen to focus on what he is best suited to doing, and to outsource other roles better suited to another. The combination is powerful.

However, delegating or outsourcing is sometimes easier said than done. Who do you turn to? Who can help? Who can you have trust in that the job will be done right? I previously prepared an article that provided some questions to ask and key things to think about – Considering appointing a consultant? Here are some important questions to ask.

I have noticed one of the key reasons why business owners choose not to outsource is driven by an unwillingness to pay another for the service, motivated by the falsehood that this is saving the business money. This is a classic false economy.

Instead of trying to save a few dollars doing something for which you are not qualified, or lack requisite capability, my experience says wear fewer hats and spend more time doing the things you are great at. In this way you maximize your output, helping to improve revenue and lower anxiety levels.

Outsourcing your weaknesses makes a lot of sense so you can focus on the things you do best in supporting the business.

Tags

  • General Management
  • Operational

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