When you are an entrepreneur used to doing everything yourself it can be difficult to get help when you need it or to delegate tasks that you no longer need to do – that you can assign to someone else to free up your time for more important things.
Currently as acting CEO, CFO and COO you might think your business is growing appropriately, but often you really can’t see the forest through the trees. You are too immersed in the business to see if you are meeting your goals and progressing as you should be. Sometimes the decision to get help will have to be made when it is time to take on a new project that will be too big for one person to handle, or one that has parts of it that someone would be more qualified to do.
First, though, in your COO role you should carefully scope out the project, figure how much it will cost and how much money it will make you because it does take money to take on new projects. You will need money for personnel, materials, maybe travel expenses, legal fees, and other expenses.
Along with money issues you will also have to make many concessions and schedule adjustments when working with others because of differing work styles, hours, expertise, etc.
When you factor in the concessions, adjustments and the money involved, maybe a new project you had planned would end up costing more than it would be worth to your business in the long run.
If you do decide that the project will benefit your business and take you in the direction you want to go, one way to ease into having other people involved is to hire outside contractors. Use the network of contractors-specialists in their respective fields-that is available. Whenever I have needed help for new projects this method has worked well for me.
You, as the owner, will have the final responsibility with your clients for any project and must remain involved in the work at some level. However, if you do decide to take on a new project and hire a contractor, you must also be ready to let that person do whatever you have hired them to do and to take a back seat, a difficult task.
At first there will be some time needed to familiarize the contractor with what you want done. Have them suggest to you how they would solve the current problem. Your role in the project should not be the controller, but should become that of overseer and partner.
You should explain to your contractors that you expect certain conditions to be met during the project, establish timelines for certain aspects of the project, and always follow through with these details.
Then your job is to let them do their job as your agent. It’s not easy but it can be done.
Article © Copyright 2002 Stanley I. Mason. Syndicated by Paradigm News, Inc.
