Owning a business and building it from scratch can be a worthy achievement for anyone who manages to be successful from it. However, there does come the point in your business where it’s beneficial to release the reigns slightly and to give control over to others so that they can continue to build and you can continue to grow. However, as a business owner, this can be tough, so here are some tips on learning to let go in business.
How to Let Go of Control So You Can Grow Your Business
No time to read the full post? Listen on the podcast here:
Start With A Plan
The first thing that you need to do is ask yourself a question: what it is that you know someone else could take on and do better than you?
You can be a master of all trades, but you know the rest… Being a master of all trade isn’t necessarily a good thing when you’re trying to grow your business. You could be good at something, but there’s someone out there who’s likely to be a professional compared to you.
As the business owner, your focus must be on the revenue generating activities. However, we know there are tons of other tasks that simply must be done. Oftentimes, it is the presence of these “other” time-consuming tasks that get in the way of the work it takes to generate revenue. When there’s not enough time to focus on the most important tasks at hand, it’s time to create a plan for what you’d like to delegate.
What are the time-consuming tasks that do not directly impact the bottom line, yet must be done? Or, what are the tasks that aren’t getting done because you don’t like to do them? Once you make a list of these items, it’s time to start to think about how much you can then achieve after giving those responsibilities away. You want to create a list of opportunities that can help you see the benefits of giving away control. If you don’t, then your immediate response will be to want to take it all back.
Many business owners who’ve created a business from their home or with very little money will likely find it difficult to employ other staff members to take over the roles. After all, starting as a solopreneur who does it all can make it difficult to relinquish control to someone, usually for fear they’ll muck things up!
So one way to begin to hand over responsibilities is to start with outsourcing specific tasks. Outsourcing may also be something that’s beneficial to do if money is an issue, and you can’t afford to hire someone full-time. There are many aspects of a business that you could outsource, from project related tasks, to operations-related departments like IT services to accounting.
With outsourcing, you have a bit more flexibility when choosing someone because you merely pay them for the hours they work, or you agree to a contractual arrangement. It’s also a bit more of a collaborative process if you so wish it to be, so you don’t have to give over complete ownership to start off with.
Understand That Nothing Is Ever Going To Be Perfect
Let’s be honest, is anything perfect in this world? Perfect is something that doesn’t really exist, and when it comes to your business, things will go wrong.
You probably punish yourself for when you mess up, but it can feel ten times worse if you’ve given control over to someone and they mess up. The immediate reaction to this is to take that responsibility off them and to do it yourself. However, that’s not the point, and you’ll only be pushing yourself backward instead of going forward.
It might be a mantra that you have to repeat over and over again until it becomes true to you but remember, nothing is ever going to be perfect. So if things go wrong, see failure as a learning curve rather than it being anything negative.
Embrace Your Discomfort
Being uncomfortable isn’t fun, and when we know something isn’t going to be enjoyable, we do everything in our power to avoid it. However, success isn’t found in your comfort zone. In fact, it’s just beyond it, and so it’s important to embrace that discomfort when it comes to giving over some of that control.
It’s going to feel very alien not to micromanage every single part of your business. However, that discomfort is something that should be welcomed, and turned into something positive. Why? Because it not only helps you grow, but it also helps give your business the best chance of growing too.
Welcome The New Addition To The Table
And finally, the best thing about letting go and involving others is that it’s bringing some new to the business that you’ve not had before. Up until now, you may be the only one with your eyes focused on the business. Imagine what would happen if you had a pair of fresh eyes on a project? There may be things that they have discovered that you’re too close to see, and that in itself can be incredibly impactful on your business. You’re giving the business a chance to find something more than what it already has. This is ultimately what you want for it, right?
Letting go of some of the control you have over your business is tough. It’s likely to be something you’ve worked really hard for, but if you want it to grow and succeed, then it’s not something you can do forever on your own. Micromanaging every aspect of your business should not a long term strategy, so take some time to put a growth plan in place.