Entrepreneurs often don’t know how to delegate
The first five years of any new business are the most crucial with studies showing some 70 per cent of businesses failing within this time span.
Small business owners are often so busy wearing every hat while they are working around the clock and burning out, their accuracy, creativity and productivity begin to take a nose-dive as stress and feelings of incompetence continue to pile up.
Rob Dobson, president of ADP Canada — which specializes in providing payroll, HR, outsourcing and consulting services to companies — stresses the importance of outsourcing to the new entrepreneur.
According to Dobson, many entrepreneurs lack time and expertise to handle many administrative and employee services necessary for company upkeep.
“While the Canadian economy is driven by small business, administrative processes like payroll and HR are forcing many entrepreneurs to take their eyes off the road,” Dobson says.
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Susan Ward, Small Business Canada consultant and co-founder of IT consulting business Cypress Technologies, encourages employers to embrace delegation as a skill for success.
But according to Ward, it is best not to delegate the tasks that are most vital to the company.
“You don’t delegate the tasks that bring in the big bucks or the creative tasks responsible directly for your vision of the company,” Ward says.
Ward explains delegating tasks might include tasks outside of the office all together.
The key to delegation is to be clear about what expectations and deadlines you have for the person you delegate a task to and to verify the person’s credentials and references before trusting them with an important task related to your business.