A major pitfall for many growing businesses is the owner’s inability to let go and delegate responsibility to employees. In effect, the limitations of the entrepreneur become the limitations of the business.
There’s no doubt it’s challenging to strike the right balance between maintaining control over your business and delegating to employees or contractors. But your refusal to hand over responsibility can take a devastating toll on business results, employee engagement and your personal life.
You’ve probably heard plenty of times it’s important to delegate work to your employees. So why don’t you do it more?
Delegating doesn’t come easy to many entrepreneurs. It’s often seems simpler to just do the job yourself. Or you may not have money to hire help.
“A lot of entrepreneurs work 60 or 70 hours a week, but they’re doing a lot of jobs someone else could be doing,” says BDC business consultant Jean Joncas, who has coached entrepreneurs for 20 years.
“When you delegate, you can focus on what you love to do and what brings the most value to your business.”
Here are four top barriers to delegating and Joncas’s tips for getting around them.