To do it myself or not to do it myself, that is the question… A simple guide to deciding when is best to delegate or outsource
If you are at that stage in your business where you want to grow further but your diary is packed, you will have been asking yourself the question but not taken the jump yet. So let me help you with this simple 4 step process before you get really stuck.
Step 1 Make a list of all the activities, tasks and duties you fill your diary with.
Put a value of £10, £100, £1,000 or £10,000 against each line. It represents either what you expect the task would return for an hour’s work or what it would cost to delegate/outsource it. Let me give you some examples: Email triage £10
Booking meeting in your diary £10 Creating content for your social media £100
Answering customer queries £100 Creating a new marketing campaign £1,000
Setting up an automation to improve efficiencies £1,000 Developing a strategic plan for the next 5 years £10,000
Creating a new product £10,000
Look at the list and work out how much of your time you spend per week on tasks that are below what you want to pay yourself. Be honest, there is no one else looking.
Take the number from step 3 and multiply it by 9990. That’s what it is costing you for not spending time on your big ticket items.
Now you may argue that you could not spend all your time every week on £10,000/hour tasks and you would be right but you could spend a good portion on jobs that would make you £1000 per hour. So downgrade it and multiply by 990 instead. Still…
What difference would that amount of money make to your business and your life?
I hear you say: Yes but…
If you think that nobody can do it as good as you, someone can do it 80% as good and it is your job to find that person and help them get there. Your standards are holding you back.
If you think you can’t afford, it’s because your paying yourself before you invest in your business and your future. You are keeping yourself stuck.
If you haven’t got the time to train someone, it’s because you have left it too late to delegate, you can either stay stuck or bite the bullet and invest the time and see the benefits within weeks.
If you believe that a team is more trouble than it’s worth. Ask yourself the question: how do the bigger companies in your sector find the people to do the work? The problem is not in finding the right people, the problem is with your skills in recruiting and supporting your team. Learn to be a better leader and you will grow your business.
I even heard someone say to me: I did it and someone I recruited took away my customers. Whilst this is a possibility that they will try, how well they succeed is up to you. There are lots of measures you can put in place to mitigate that risk, both legally and strategically through your leadership style. That’s just an excuse you give yourself rather than take responsibility for your mistakes.
The only situation when you should do it yourself is when you are have more time than money. The answer is that simple. Don’t feel bad, lots of people are like you but you have a choice.
I hope this got you over the line. If you need help with implementing the decision you just made, get in touch and let’s have a free insight call and see if you could be a good fit. Book here.
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If you have any questions contact Helene HERE
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