When you started your business, chances are you didn’t do it with the intention of working with high-stress levels and long hours the rest of the life. In an ideal world, many business owners have the idea to create a business and then let it run in the background without a whole lot of their own involvement.
The thing is, scaling your business in itself can be stressful and is often where many businesses fail, but it doesn’t have to be that hard. You just need to learn to let go a little bit.
I know, your business is your baby, but you must understand that there are very few things in your business that it makes sense for you to actually to do.
After owning a business for almost thirty years now, here’s something I firmly believe to be true: Your business is worthless until it can operate without you, and the only way it can operate without you is through delegation and outsourcing.
To begin your scaling process list all of the tasks you currently do in your business, which, if you’re just getting started, could be very long.
While this process could take a bit of time, the point of it is to understand what you can and should delegate. In the past, I’ve thought about this in two ways, so feel free to approach it in whatever way makes the most sense to you. The first approach is to categorize tasks into the following categories: work you hate, work you must do, and work you can’t do.
For each task, ask yourself if you could get somebody else to do it less expensively or with greater output than if you did it on your own. If the answer is yes, then you need to pass that work off to somebody else.
Another approach is to add values to the work you need to do, such as $5, $50, $500, $5,000. The idea here is that some work you do has greater value and is the work you should focus on and some work has little value and is the work you should delegate.
Don’t underestimate the value of outsourcing to somebody who could do the work far better than you. My bookkeeping virtual assistant charges $65/hr, and while that may seem high to some, it would take make so much longer than it takes her and wastes valuable time that I could focus on high-profit tasks related to my business. Plus, I hate doing this kind of work, so overcoming the mental block to actually get the work done takes a significant amount of time on its own.