VIDEO: Grow Your Business Through Delegation

By QuickBooks

1 min read

One trait that many small business owners share is the desire for complete control over every aspect of their company. When staring out, wearing multiple hats becomes second nature out of necessity, and constant multitasking is seen as the only way to realize the owner’s vision. But as businesses try to scale, responsibilities like budgeting, payroll and taxes start to quickly pile up. These demands on the owner’s time increase, and the impulse to continue juggling every aspect of operations becomes counterproductive. At this point, it’s vital for business owners to realize that it’s time to take a step back and hire a team they can trust to handle smaller tasks.

Patricia Tsai, owner of ChocoVivo, a chocolate bar in Culver City, Calif., explains the process of letting go, which allowed her business to thrive. She juggled her business’ research and development, marketing, branding, HR, production and cleaning needs all by herself for a decade before realizing she needed to hire employees to form a support system.

Most business owners resist taking a step back and allowing a new employee to handle important jobs. After all, it’s tough to hand over something you worked so hard to create. But it’s also important to realize that a company will never reach its potential without outside help. As a business owner, one of your most important tasks is identifying not only the right people to help you realize that potential, but to help them overcome any challenges they may have along the way.

Every business owner comes to a point where he or she needs to let go of certain responsibilities and entrust others with helping the business grow. The key is being intuitive enough to know exactly when you need to make this transition. Learning the art of delegation will allow you to work smarter, not necessarily harder, at every step of the way.

If you’re ready to bring on new employees, here are six essential steps you should follow.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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