How to Grow your Business Through Effective Delegation
As a business leader, it’s almost expected that your workload will get heavier as your business grows. If you want to avoid becoming overwhelmed and burning out, then you’ll need to find a way to continue growing while keeping your workload the same. Or, better yet, find a way to work less and still grow your business. In this article, I’ll be showing you some of the things you can shift, to work less and earn more. Or at least, be less busy.
Earning more while working less can be done in many ways:
Grow your business through outsourcing
The most effective method is to delegate your tasks through outsourcing. Outsourcing doesn’t necessarily mean sending a particular job offshore. It can be merely finding someone other than yourself to take care of a specific job or task for you. There are two main benefits to outsourcing your responsibilities as your business grows. The first is the most obvious, to avoid becoming overwhelmed. The second is to increase your income.
As your business starts to generate revenue, it can help to hire assistants and specialists to help you with some of the simple but time-consuming tasks on your plate. Hiring assistants will allow you to concentrate your energy on more valuable aspects of your business. Most are hesitant to take this approach because of the cost of outsourcing or hiring someone else. However, by shifting some of the time-consuming items onto someone else, you can spend your time on the activities that will bring in even more income to offset that cost.
Thankfully, with our tech-focused society, it is a lot easier to delegate tasks through outsourcing. It allows you to hire assistants and specialists without providing them with a physical office. You can even outsource some tasks to organizations that will be focused on that specific item 24/7. But before you dive into searching for a person or company to delegate a specific task to, how do you decide what items can or should be delegated?
Here are some of the commonly outsourced business functions to grow your business:
1. Information Technology & Technology Support
Enterprise software developers, network administrators, mobile app developers, and even web developers can all be outsourced. Everything that’s commonly done with these specialties can be accomplished from a computer with an internet connection. Shifting these IT tasks and issues to an outside freelancer or agency will free up your time.
Business administration is a critical component of every company, yet it’s also incredibly time-consuming and expensive. Fortunately, these daily tasks are some of the easiest to be outsourced. You can easily find plenty of highly qualified executive administrators and freelancers that can help your business run more smoothly. The activities that can be delegated are the necessary day-to-day tasks that have to be done but get in the way of your ability to work on strategic moves that can help you grow.
3. Financial Management
Most businesses that fail tend to go under because of poor cash flow management. So, the management of your business’ finances isn’t something that you can take lightly. These services include accounting, payroll processing, and analysis of your operational costs. Besides saving money, outsourcing your financial services can improve your records’ accuracy and help you identify more growth opportunities.
Without a proper marketing strategy, it can be challenging to have a successful business. Marketing is what helps you establish your brand in the market and generate more leads. Using an outside specialist or firm can help you gain another perspective of your brand. A marketing professional can look at your business the way your target audience does and help you optimize and improve your marketing efforts.
The real value in delegating your marketing to an outside individual or agency comes from the expertise that it provides. The field of marketing is fast-moving. You won’t be able to keep up if your focus is split. Not to mention the quality won’t be as high as it should be. By shifting this task to someone who specializes in marketing, you can get high-quality marketing content. A content that is tailored to your specific target customers, which will have a significant impact on your business.
In growing your business, take note…
Outsourcing tasks in these areas of your business isn’t the only way to grow your business while working less. With many technology tools now available on the internet, you can tap into business automation tools. These will automate many of your daily processes so you can free up more of your time. However, keeping these four areas in mind will help you decide which parts of your business you can delegate to an individual or agency, or automate with a software platform.
The main benefit of outsourcing is having the time to work on what really matters. To make the most of the time you’ll have after implementing some of these tips, you’ll need to learn how to motivate, inspire and encourage others. Here is a short read and follow-up event on how to improve your leadership and motivation skills.