If you want to grow your company, you’ve got to learn to let go of any task that doesn’t set you apart from the competition. For a small-business owner, this means giving up some level of control and delegating or outsourcing tasks to others.
There are many reasons you may want to maintain control and avoid delegation – there’s not enough time, to do it right you must do it yourself or perhaps you enjoy the task. However there’s another important issue to consider: the “pain/gain” equation. People first want to eliminate a pain or prevent a loss before they will be interested in generating any kind of gain.
In business, when we focus on overcoming a challenge that’s perceived as a threat, the pain motivates us to eradicate the problem immediately. Conversely, when we focus on overcoming a challenge that’s perceived as an opportunity, we’re less inclined to take action. If this same concept is applied to control, it makes sense why most business owners struggle with relinquishing it. Most people think about the opportunity or gain associated with giving up control, however this isn’t enough to motivate business owners to actually let it go. The pain or threat associated with giving up control, increased errors, reduced quality and upset clients, often outweighs the benefits of delegating tasks.
Business owners can address this dilemma by rethinking the situation of relinquishing control. Don’t think of giving up control as having the opportunity for more free time; reframe it to focus on the downside or threat of not giving up control. A few questions to consider: What is the cost associated with not giving up control? What will you lose by not giving up control? What is the pain that will be created if you don’t give up control? Focus on the cost of not changing a behavior and you’re more likely to take action. What are you doing in your business that you shouldn't be doing? Chance are, you're probably over-involved.
To reframe your view, write down all the costs associated with not giving up control. Be honest with your list and keep these “pains” front and center as you are deciding which tasks to delegate. When the perceived cost of not giving up control is greater than the pain associated with relinquishing control you will be able to make a shift. One of the easiest (and wisest) things you can outsource today is your bookkeeping. A business owner often has a skewed sense of finances when it comes to their "baby". A competent bookkeeper can give you a fresh set of eyes to see what potential there is for growth and where. Need a highly recommended bookkeeper? We've got an entire team of them waiting to take on your books. Contact us today.