However, the reality is that there’s only so much time in the day. Micromanaging all of the details related to running your business ultimately creates a ceiling for the growth of your business. No matter how great we think we are at multitasking, or how little sleep we get per night, there is a limit to how much we can do. Failing to delegate effectively inhibits your ability to be the rainmaker, resulting in less time to attract and bring on new clients and take care of your existing clients.
Once you’re ready to take steps toward delegating, here are a few important points to consider:
- Delegate as much as your team can handle.
- Communicate with your team and have a solid understanding of their bandwidth and if/when they can they take on more. Oftentimes the lead advisor isn’t aware of the status of their team’s bandwidth, and that they actually have more or less capacity than they imagine.
- Set up a team accountability structure so you have a system for tracking completed tasks.
- Depending on your needs, this might be a spreadsheet or a project management tool tracking to whom you delegated the task and when it should be completed, enabling you to quickly see the status of the work.
- Commit to additional training if needed in order to support team members effectively taking tasks or projects off your plate, and your comfort level that the work will happen as you would like.
- If they need additional courses or training to work at a higher level, you may want to consider making an investment in their education, thus supporting your ultimate game in expanding your business.
And for more on delegating, I invite you to read this previous post.