As a Business Owner you probably tend to a lot of things by yourself. It’s not for lack of wanting to “give things up.” You “do it all” and willingly “take on more” than you can without help. You have a hand in marketing, operations, and certainly a little bit of finance. (Are you not the rainmaker, too?)
You get the picture.
Warning! This go-it-alone strategy of trying to do it all by yourself could be detrimental to the overall growth and sustainability of your business.
As the head of the company-the fearless leader-you must be able to maintain appropriate staffing levels at all times, but especially when you are too busy to oversee every responsibility out there. That old cliché of not being able to “see the forest for the trees” was never so true. In this case, you must either hire additional staff, assign the right people to those specific tasks or “outsource”.
Ask yourself these questions to help clarify if in fact, you are trying to do too much by yourself:
Am I the only person who can execute this task?
Business Owners often believe themselves to be the only person in the company who can take on a particular responsibility; hence that task is just one of the many that falls upon their shoulders. That structure-with you being the only one that can do what needs to be done-might work while the business is small with limited resources. As you grow it may become unsustainable might compromising other aspects of the business. Examine the core functional areas of your business and determine if you are playing too large a role in any one area. Consider hiring additional staff or bringing in an external resource to complete the work instead.
Are you reluctant to outsource?
You must conduct your due diligence in order to successfully outsource specific aspects of your business. Ask your trusted advisors and colleagues if they have any recommendations so that you may be more secure in your decision and confident that the work will be executed in the manner in which you wish to see it done. It can take time to find such a resource, and for some Business Owners it is also an emotional exercise. (So many feel as if they are relinquishing control; turning over their “baby” or at least a portion of their “baby” to an outsider.) If this is the situation in your firm, you might wish to explore the option of recruiting a new hire to assume the responsibilities. Regardless of which option you choose, the long term outcome will most assuredly be significantly better than keeping all of the business balls in the air by yourself.
Can you re-engineer how the work is done by your existing staff?
If neither hiring new employees nor finding an outside resource is right for you, the best approach may be to take a close look at how your company is currently working with an eye towards restructuring and reassigning tasks and responsibilities. Admittedly, this might require some additional training; however restructuring is a wise solution as there is no additional head count or financial investment in an outsourced resource. Instead the work is performed by an existing employee that understands the culture of the company and the deliverables you provide to clients. Realignment of departments and the reassignment of tasks and responsibilities requires that you undertake a comprehensive situation analysis so that employees will not find themselves carrying too much of the workload when they take on the new tasks. This option will most definitely need a training component; you will be moving employees to tasks they are not familiar with or comfortable with.
Ultimately every business owner must be careful to not get caught up in the trap of doing too much but accomplishing too little simply because they are spread too thin. Examine your situation and options; take action if you recognize that you are juggling too much of the work to do what you “really” want to do.