17 Jul Entrepreneur’s Tip of the Week: Don’t Be Afraid of the “D” Word!

Entrepreneurs sometimes want more control than they can manage. Why? Mainly because they are afraid that if they give control to others, they might lose sight of the direction or goal they were originally aiming towards. Delegating requires trust, which can be difficult when the success of your business is on the line.

One individual can only do so much. Growth is limited if you do not give other people responsibility to get things done. There are other capable people working for you- if you followed my earlier advice and hired right! Delegating can address the real risk many entrepreneurs have of simply burning out. It can also help a business grow. By delegating, you are able to focus more on the big picture, key hires and new initiatives, and less about the fine details. You’ll even find that by delegating you can have more “me time” and family time, both of which help you re-energize, re-focus and of course finding needed balance. Remember, no one on their death bed ever said, “I wish I spent more time at the office.”

Careful! There is such thing as too much delegation. When this happens, you will start to feel like there is nothing for you to do! Delegate just enough so that you are not too stressed but also not too bored. You can measure this balance by paying close attention to yourself, your employees and how your business is running. And keep on eye on those to whom you are handing responsibility. President Ronald Reagan, speaking of our relationship with the then-Soviet Union, used to say, “Trust but verify.” That can work well in growing your business and handing responsibilities to others.