Just like the title suggests, you must learn how to delegate in order to grow your business. Delegation is the key to new opportunities. You don’t need to wear all the hats.
Do you feel a lack of energy? A lack of time to do everything you need to do? Stretched to your limits? Burn out? Then you need to start to learn and practice the art of delegation.
It is just as much an art as a habit. You should only be doing what you can do and delegating as much as possible.
A coach can help to keep you accountable to delegating tasks that you need to give away.
This will be most difficult for ‘control’ type personalities. They never feel like anyone will do the job as well as them. Unfortunately, you need to let this need to micro-manage go in order to increase your quality of life.
You should try to delegate to another expert first within your business. If you have a back-office CA then start to give them more tasks to do. You should only be doing what you and only you can do. The second person you can delegate to is someone who can do it 80% as good as you and then you can train them until they get to 100%. Unfortunately, some training is required usually, but then you know that you can depend on that person to perform the tasks correctly. The last step is to hire out and train completely.
Delegating is a hard concept to put into practice. However, once you have been able to do this you will see an increase in profitability.