Time is a commodity that every business owner could use more of. The day to day tasks of running a business can easily demand the majority of your time. Using all of your time running operations can prevent you from being able to focus on growing your business. In order to free up time so you can focus on growth you need to consider delegating tasks, hiring additional help, and outsourcing.
If you take a close look at the tasks you do each day there are likely a few that you can delegate to current employees. It is often the nature of ambitious business owners to take on additional tasks in an effort to get things done quickly. However, overloading yourself with tasks that others can handle will ultimately slow you down. In addition, these extra tasks can distract you from the important work that can aide in growth. In order to spend more of your time focusing on growth, you need to delegate tasks whenever possible.
When you have more work than you can do yourself or delegate then it may be time to look into hiring additional help. Bringing on new internal staff is a big decision because of how it can impact the dynamics and finances of your business. You should consider how adding an additional team member will change the dynamics in your business. In addition, it is important to think about the costs that come with bringing on full time help beyond salary. Benefits like paid time off, employer paid insurance, and 401k matching all add to the actual cost of hiring in house help. Ultimately, the purpose of hiring additional help is to get what you need done so you can spend time focusing on growing your business.
Outsourcing is a great way to get tasks off your plate so you can focus on business growth. You can use outsourcing as a delegation tool for new tasks that come up or to fill a significant need in your business. For example, instead of building an internal accounting department you can outsource those responsibilities for a much lower cost. Outsourcing offers a high degree of flexibility which is just what many business owners need. Outsourcing is a viable option whether you are looking for a little or a lot of help.
Delegating, hiring, and outsourcing are three ways you can free up more of your time. As you find additional time you can focus more on the aspects of your business that can impact growth. It is impossible to do everything yourself with a growing business-as much as you may want to. Instead, choose one of these options-or a combination of the three-and get to growing your business!