As Quickly As You Can Afford It, Delegate.
Your Business Won't Grow Until You Do
By Robyn Pearce
(240 words)
Not sure what you can delegate? Don't know if you can afford it? Try writing down a list of all the regular tasks you do in a week, and estimate the amount of time spent on each activity. Now, pretend you're paying someone a wage relative to each task, and put a dollar value beside each item, based on the guestimated hours spent. For example, bookkeeping might be worth $35 per hour. If you've spent 2 hours this week doing the books you'd put $70 beside that one. If, on the other hand, you've done data entry, that may be worth $15 per hour. You've taken 30 minutes, so $7.50 goes in the column.
Now, ask yourself, 'What is my hourly rate when I'm engaged in income-generating work? If I were able to free up some of these other tasks, would I be able to do more of my work, and if so, what income could I generate?'
If it's higher than the value of the miscellany of tasks you've spent your days ploughing through, you're doing the wrong work and underpaying yourself. Find a part-timer or contractor until you can afford to pay more wages, and keep your focus on your work.
Every business goes through this soul-searching. The need almost always comes before we have the money to pay for help, but if we don't take that step we'll never have the money to pay anyone, including ourselves!
© All Rights Reserved to Robyn Pearce, GettingAGrip.com, PO Box 29 586, Fendalton, Christchurch 8540, New Zealand
Ph. + 64 3 351 2140 http://www.gettingagrip.com/
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