Why Busy People are Losing Money By Not Delegating Tasks

Delegating Tasks“If you want something done right, you have to do it yourself!” Chances are good you’ve heard that one a few times before, but when did it become your mantra? Or maybe it’s something more like this: “I didn’t get this far by letting someone else do my work for me, so why should I start now?”

There’s a myth in our society that all successful people are workaholics. While there is undoubtedly some truth to this, the most successful among us are those who excel at delegating tasks — because those who don’t are wasting time and money on things someone else could be doing.

Stop Making Excuses

Your time is valuable, and if you don’t have enough of it to do what needs to be done, you’re losing money. The only way to get more time is to delegate less important tasks to others and save your own time for those that only you can do.

We all have plenty of excuses why delegating is a bad idea. Doing it well takes time and consideration to find the right person. If you choose the wrong person, you’ll end up doing the task yourself or delegating it to someone else, risking failure again. This kind of reluctance is a sure sign that you might have a problem giving up control, which is another reason why some people refuse to delegate. If you invest more time in training someone else to meet your standards, this will be less of an issue in the future. As long as you feel like you have to do it all because you can do it better or that there’s nobody you can trust, you will be overburdened with work and short on time.

Focus on High-Value

How can giving your work to others make you money? If you’ve done any kind of freelance work, this sounds as far from the truth as possible, doesn’t it? Sometimes delegating tasks even means giving up things you enjoy doing because they aren’t the best way for you to spend your time.

Take a few moments to consider the value of your time. If you could free up some of the time you spend on lower level tasks, you’ll be better able to concentrate on the higher value aspects of your business and life. For example, without having to do your own accounting, wouldn’t you be able to schedule more appointments with clients? Maybe you would have more time to seek out new clients. Both of those worthy pursuits would result in more income.

Take a Team Approach

Even if you aren’t part of a team, you can still take a team approach to getting things done. Maybe you work alone as a software developer, and you’ve designed an app that is selling well, and you’ve got many great ideas for features that will ensure your business continues to grow. But there’s one problem: you’re not an artist, and your app looks amateurish. Do you invest hours and money learning graphic design, or do you delegate the art for your project to others? Letting go of a few small tasks could be exactly what lets you get your project where you want it.

You’re a busy person because you’re good at what you do. Surprisingly, many busy people hold on to smaller, unimportant tasks that end up costing them time and money. Consider delegating smaller tasks to someone else who could do them just as well, for cheaper. Knowing when to let go by delegating can save you money by allowing you to focus on what you do best.

Image credit:  Raphael Pinto