Why Business Owners Have a Hard Time Delegating
Delegation is always a challenge. This article highlights some simple issues. In working with a number of Fort Worth businesses I’ve found that many business owners simply have so much on their plate that it is hard to follow up on delegated items. Having a trusted manager is critical to delegating the delegation follow up. It sounds crazy but a trusted manager understands the owner’s goals and direction. A trusted manager is able to “mind the store” thus enabling the owner to focus on growing and expanding the client relationships.
In addition to a trusted advisor, metrics are critical. Employees need to understand how score is kept. By having meaningful metrics which are regularly reported, owners can see that the delegation is driving the right results. Seeing results improve can help ease the temptation to micro manage staff.
Delegation is a absolutely necessary for a successful business transition. Delegation helps build your management team. A good management team allows a future buyer to have confidence in the business and may limit the owner’s “work out” terms of a future exit.
Call me if you would like to discuss this further.