How to build your business through delegation
Your business journey most often begins with just you. Along the way, however, as you figure out how to build your business, you’ll discover that delegation is essential. At first, you may delegate or outsource tasks out of desperation, because you have too much to do. The art of delegation, however, is a key component for building your business. On The Money Show with Bruce Whitfield, Pavlo Phitidis sets out five important facets of how to build your business through delegation:
What does being entrepreneurial really mean?
Being entrepreneurial is, quite simply, focused on problem solving – if there is no problem to solve, there is no opportunity. As a business owner, your entrepreneurial journey should lead you towards finding problems where the current solutions don’t inspire action or, discovering entirely new problems that your potential customers need to have solved. Entrepreneurial action is not one big leap; it’s made up of small steps that enable you to learn from the experience, fail small, and then take the next step.
What does being a leader in a small business really mean?Getting the balance of delegation right rests highly upon the way you lead. If you consider that running a business is often like leading a squadron into battle, you could do one of two ways: you could lead as Julius Caesar did, by commanding his troops into battle and then retiring to his luxurious tent to enjoy a glass of wine, or you could lead as a warrior would – by going into battle yourself first and leading your squadron, from the front, into the field yourself. As a business owner, if you want to know how to build your business, you must go into battle first for every aspect of your business, before you can delegate those tasks to anyone else.
How do you get delegation right in a small business?
In the early stages of your business journey, you may fall into the trap of quickly hiring someone because you desperately need an extra set of hands on deck. Similarly, you may often feel like the cliché “if you want something done right, do it yourself” rings true. Neither of these situations will help when you need to build your business. Deliberate, systems-based delegation is the key to building an asset of value. I recently employed a marketing manager to generate marketing leads for my company, but without a lead generation system and strategy in place, how would we be equipped to support their work, ensure they meet the requirements, and measure their success? Without those systems in place to back up the marketing efforts, our business could slowly unravel. Measurable, deliberate, systems-based delegation is key to building an asset of value. The act of bringing someone on board, and delegating specific tasks to them, must begin with you, as the business owner, fully understanding the tasks assigned to the role and the systems that need to be adhered to. Moreover, delegating tasks to someone involves them actively participating in the role, adhering to the systems, and then enabling them towards a sense of ownership over their role. That then leads to an environment where they’re invested, involved, and can outperform you in terms of how they do the job you created for them.
How do you create a culture of performance accountability?
With a system in place, and an empowered employee fulfilling the requirements of the job at hand, it becomes far simpler to objectively measure, scale, and shift, their role around when needed. A strong system of delivery inherently includes an aspect of measurement, which makes it easy for you as a business owner to keep tabs on your business’ growth, and similarly reward your employee when they outperform their targets.
How do you work with and build teams to take you beyond yourself in your business?
An entrepreneurial leader in the world of small business must attract similarly like-minded people into their team, to ensure that the focus remains on solving problems for customers in new ways. Merely hiring extra help for the sake of it won’t work for a small business that you’re set on growing. By building effective systems of delivery that work in synchronization, your business creates customer experiences worth supporting. Through this, you learn how to build your business with a continued focus on solving your customers’ problems and can move through the all-important cycles of break and build to ensure that your business responds to new customer problems. Of course, the sector your business serves often defines how regularly you need to re-assess, break, and re-build your business’ systems, as some industries move more quickly than others. For example, changes in the steel manufacturing sector take place far more slowly than in the financial services sector. By embedding a culture of co-creation throughout your team, you and your team will continue to find new ways to build your business through delegation.
Building your business into an asset of value includes a journey of system-based, deliberate delegation. Aurik can help.