In this video, Shweta speaks about the mindset challenges that make delegation difficult for business owners.
Only 2% of businesses ever cross the £ 5 million turnover mark in their lifetime. One of the biggest reasons for this is the lack of delegation. Without delegation, you will become the “complexity ceiling” in your business.
Why Don’t Business Leaders Delegate Enough?
Business owners;
- Think it would take longer to explain the task than just complete it themselves.
- Lack of confidence or trust in who they need to transfer the project to.
- Believe that they are the ones who can do the job right
- Are willing to delegate but afraid their team cannot handle any more responsibility.
- Enjoy completing certain projects, so prefer not to re-assign them
- Feel guilty about adding more work to an employee’s to-do list.
5 Delegation Mindset Principles
- Sense of Value – Your role as the head of the business is to allocate your team members and yourself to the right task to ensure that projects are profitable. Ask yourself, “Am I allocating my time to the right tasks that need my time and attention?” “What is my value per hour?”, “Is this task, worth my time as a business owner?”
Remember, every time you carry out a task that is below your value per hour, you are stealing from the business. - Who not How – Think of who can handle the taska nd not how the task will be done.
- Patience – In delegation, patience is required. If not, you will continue pilling tasks up and wasting your time.
- Failure Tolerance – You need a certain tolerance for failure while people learn.
- Radical Candour – It is important to give feedback about tasks. Not talking about the task or the performance. In radical candour, there has to be honesty and respect.
Once you are comfortable with these five principles, delegation becomes easy and can help you grow your business.
Next steps…
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