If your motto is “Nobody does it better”, your business will never grow. Successful business owners surrounding themselves with a team of people who help and support them. Unfortunately, 95% of businesses will never reach $ 1 Million in sales. Why? Too many entrepreneurs try to do too much, instead of strategically crafting a plan to systemize and delegate.
Remember the guy in the circus, who would get plates spinning on long sticks? He can get all 8 plates spinning, but not for very long. Is that what happens in your business? How long can you keep spinning plates before they come crashing down on you? If your goal is to just “own your own job”, then keep spinning. If you really want to create a business that works, so you will not have to work so hard, then you’ll need to build a team. The best way to do that is to outsource, and it makes sense to start with the monotonous ones before moving on to more complex tasks.
To help you, take a moment and stop reading this article and to do this exercise:
· Write down your Top Ten Strengths – what do you do best?
· Next write down your Top Ten Weaknesses.
· Rank each of them in the order of importance.
· Look at both lists … How are you spending your time right now?
Completing this exercise can shed considering light on where you’re at your business. As I work with startup entrepreneurs and solo-preneurs who are “stuck”, the starting point is not the business. The best starting place is to define the owner’s values, desired lifestyle and the legacy he or she wants to leave. Once those things have been established, then you can design your business around your life.
It does not work to do it the other way around. That’s because your business is not your life. Your life and your business are two completely different things. The reason your business exists is to promote your desired lifestyle. Your life should not be consumed by your business because when that happens, the joy leaves. Do the tasks that make your heart sing, not the ones that are drudgery. A good rule is: if someone else can perform a task better, cheaper or faster than you can – then you should probably outsource it.
Freelancers can provide administrative help, graphic design, bookkeeping, personal assistants, data entry, scheduling, market research, copywriting, web design, public relations and much more. Utilize low-cost providers such as those found at www.elance.com, www.getfriday.com, 123employee.com. Do not forget about student interns. They can be a great resource and often work for school credit. Check with your local high school, college and university career development offices.
To maximize your return on investment when outsourcing, it’s best to have a strategic plan in place. Too many business owners spend more time planning a two-week vacation than what they want their business to look like in three to five years. Strategic planning does not have to be complicated, cumbersome or time-consuming. All you need is a simple but effective step-by-step guide to help make decisions and remember goals, strategies, and tactics on day to day basis. It will also help you work better with your vendors and communicate clearly with your team.
Just as a sea captain must set a course and delegate responsibilities accordingly to the crew in order to arrive at their desired destination, as CEO, your job is to cast the vision of where you want your company to go and to develop a plan to get there. From there, it’s just a matter of documenting your business processes and deciding to delegate by outsourcing, starting with the monotonous tasks first.