Business & Finance Small Business

Delegation for the Entrepreneur: When in Doubt, Route

DOES THIS SOUND LIKE YOU? You are really something! You are a vibrant, imaginative, creative, intelligent, accomplished, multi-talented humdinger of a powerhouse.
You have a solo or small business.
You are a busy 'idea person' who sees everything as part of the big cosmic whole.
Your zany charm, unconventional convictions and playful nature endears you to others though your ability to balance a checkbook stinks.
YOUR BOREDOM IS SOMEONE ELSE'S PASSION One of the large issues for intuitive, visionary big picture thinkers is keeping up with what is considered by many to be boring and mundane business details.
This is a BIG barrier, because a business cannot be a commercial success without good systems and sound practices in areas such as accounting, market research and a having a good grip on technology.
DON'T UNDERFUND YOUR BUSINESS Many creative entrepreneurs underfund their businesses.
However, doing what you are not good at but "can't afford" to pay someone else to do is "penny wise but pound foolish".
If you are not focused on your strengths, you are literally losing money by the minute.
This is a big mistake made by big talent.
Ask any successful business owner if he or she did everything himself or herself and you will find that being totally solo can often mean "sold out of luck".
Paying for the services of an accomplished virtual assistant and finding someone who is organized and good at math to do your accounting might just make a difference between surviving or thriving.
Parceling out tasks or projects to someone who has the talent and passion for them is not only smart, it can actually save you money in the long run.
Do not let yourself get caught up in the busy work of business.
When it comes to success, it pays to pay for the things you do not do well and to focus on "high value activities" (those things that bring the greatest financial return either directly or indirectly), and what you do best.
MAKE A "TO DO" LIST AND A "FOR SOMEONE ELSE TO DO LIST" Consider making a list of all the different aspects of your business.
Then review your list and determine what activities you are good at, what you like to do and what the high value activities are.
Once you have completed this, take some time to explore options for getting help for the activities you are not good at and do not enjoy doing.
Speak with others in your field or others in general and look on the Internet for the services available.
Get recommendations and be sure to check references.
Be sure to keep the high value business activities in the forefront, whether you do them, or hire someone else to do them.
Malcolm S.
Forbes said it best, "When in doubt, route".

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