Delegate Like A Millionaire Business Mogul

 

Some entrepreneurs get into the habit of doing everything themselves. They work eighty hour weeks and want to have a say in everything that happens in their company. But this isn’t business freedom. In fact, it’s quite the opposite.

You didn’t start your business so that you could spend your Friday nights and weekends doing the grunt work. You started it because you wanted to create a better life for yourself. But something went wrong: when your business got to the size where you could take on more people, you found it hard to let go, and now you find yourself performing all the tasks which, in all honesty, should be done by others. This is not a good situation to find oneself.

All millionaire entrepreneurs know that to make a lot of money – and to have a great lifestyle – you need to delegate. You need to find tasks for others so that you can focus on the things that have the highest value to you and your business. So how do you delegate like a millionaire business mogul?

Create An Obligation

Letting go of control can be difficult. But you’d be surprised just how committed your people can be when you create obligations. Obligations, or duties, are a kind of moral imperative. Make it clear to your subordinates that they have to perform their functions for the good of the company and that their actions have a measurable impact on company performance. Employees who understand the importance of their roles are much more likely to perform tasks to a high standard than those who think that they are just another cog in the machine.

Automate HR

Successful business leaders know that there are a lot of administrative tasks that go into employing people. Laws, holidays, and special requirements all take time to process. But millionaire business moguls aren’t interested in the nuts and bolts of all that clerical work, and so they look for ways to automate the process to make delegation easier. Use a payroll management system to take a lot of the administrative burden out of employing people so that you’re freer to use people the way you want to.

Give Authority

Employing people is a great way to leverage your organisation’s impact, but it’s not sufficient for delegation. Delegation also requires the transfer of authority – permission for staff to operate independently of you and make their own decisions. Again, this can be difficult for some entrepreneurs, but top moguls see the situation differently. They have an abiding belief that more brains are better than fewer brains, and that the experts they employ to various roles will probably have better insight than they do. In short, they can make better decisions.

Allow Employees To Reject Assignments

It might seem strange, but part of successful delegation is being open to the idea that an employee might reject an assignment. Forced delegation is almost as bad as not delegating at all because it can undermine your overall strategy. When staff can’t perform a task, then your faith in delegation is shaken. Look for alternatives where possible.