Many business owners start by running almost every aspect of their business themselves. However, this is not effective when the company starts growing. Delegating tasks to others then becomes crucial for the sake of efficiency and productivity. Here, successful real estate and business investor Michael Eisenga explains why delegation is an important management tool and suggests how to use it effectively.
Learn to Let Go
Learning to let go and let others carry more of the load is challenging for many business owners. They feel that their skills, talents, and abilities have enabled them to be successful, and the idea of handing the reins over to another can be terrifying.
The ability to delegate effectively can be learned, even for the most ardent do-it-yourselfers. The first step is to evaluate your current ability to give up control and then build on that starting point with incremental steps.
Try giving up just a little responsibility at a time. If you give clear instructions, ask for periodic review, and provide adequate training, you will learn that others can meet and often exceed your expectations.
Learn to Give Clear Instructions
Nothing is more critical when delegating tasks and responsibilities than clarity. Spend the time needed to understand what the assigned delegate does and does not know about what you want them to do.
Be explicit about the level of responsibility, authority, and accountability that come along with the assignment. Help the person understand what the final result should be, but avoid prescribing each step of the process. Allow the individual to apply their own skills, talents, and approaches to achieving the desired results.
Learn to Identify Natural Review Points
You and your designee will feel better if you have established review points. It might be a rough draft of a document, a proposed set of vendors, a materials list, or whatever is needed to assure you that the person is headed in the right direction. They will appreciate this as well.
Effective delegation is a learned skill and takes practice. Many natural review points are intuitive, but not all. Look for an opportunity to review before resources are committed or other permanent changes are made.
Constantly Develop Your Bench
Learning to delegate is easier if you have a well-developed team. To have a deep bench requires that training and cross-training take place frequently. It may seem expensive to spend time training an HR specialist on how to process invoices. Still, you will be glad you did if the day comes when you need to shuffle responsibilities and delegate additional duties.
When delegating authority and responsibility, the frustration of failure comes when the delegate is unprepared and untrained to carry the load they have been given.
To avoid learning how to delegate effectively will hamper the growth of your enterprise. There are limits to how much any single individual can do. Only by delegation can you free yourself up to focus on growth and expansion.
About Michael Eisenga
Michael Eisenga is a successful commercial real estate investor with a banking and finance background and is the former mayor of the City of Columbus. As a President of both American Lending Solutions, a mortgage lending company (he founded and operated from 2000 to 2018), and First American Properties, he has a track record of creating and operating successful businesses. Mr. Eisenga is also devoted to property development and construction, primarily serving smaller local communities. Especially in the senior housing sector.