The Art and Science of Delegation (Infographic)
Entrepreneurship means wearing a lot of hats. At times, you might find yourself playing accountant, hiring manager, marketer and CEO all at the same time. Not only that, but in addition to the time commitment, starting a business can also require lots of money. However, as an entrepreneur, these are the types of sacrifices you have to make in order to follow your dreams.
According to research from ScaleTime, nearly half of all small-business owners said they used their personal savings to fund parts of their business. When it comes to time, entrepreneurs are always on the clock. In fact, a whopping 86 percent admitted to working on the weekends, and 53 percent said they worked on major holidays.
All this time and money spent can become exhausting. That’s why it’s incredibly important to delegate. When you’re not delegating enough, leaving all the hard decision-making in your own hands, you might find yourself experience “decision fatigue.” When the brain’s decision-making powers are overworked, making rational decisions becomes harder and harder.
Of course, delegating important tasks is not always easy. But the truth is, you can’t do it all and sometimes you’ve got to let others take the wheel. To make yourself comfortable with delegation, there are certain steps you can take.
For starters, effective delegation starts with hiring employees who you trust and can rely on. It’s also important to codify your business and make sure it’s prepared for anything that comes its way. This means making sure all of your operations are consistent and transparent, and that every decision doesn’t depend on one person’s know-how. Creating a company overview, systems processes and a training handbook are good ways to do this.
To learn more, check out ScaleTime’s infographic below.