Is it Time to Let Go?

One of the most difficult challenges a parent faces is learning to let go. Like other parents, I have had to make tough decisions: When should I let my daughter ride her bike around the block alone? At what age should I drop my son off at the movies with his friends? Preparing my children for independence requires balancing my fears with helping them grow into strong and capable adults.

Business owners also must learn to let go. The questions are different. Is it time to delegate the bookkeeping to someone else? Should I turn over the daily account management of my largest client to a staff member?—but the process is the same. Making business decisions like these can keep you awake at night, but letting go is critical to the growth of your firm.

Some business owners gradually let go over time, while others make sudden changes in how their business is operating. Determining the right path for you begins with evaluating progress toward growth goals and redefining your leadership role. Ultimately, you can learn to delegate with confidence.

Evaluate Growth Goals

A business owner who is functioning at a strategic level is able to drive progress toward business objectives. If your firm is not achieving its goals, perhaps your leadership role needs to shift. Take a moment to reflect on your growth goals. What is it worth to achieve those goals? Having a strong vision creates clarity around your role as the driver of success.

Redefine Your Leadership Role

Make a list of everything you do in your business. Now ask yourself, what is the best use of my time with respect to my growth goals? Circle the items on the list that qualify. Add new items that don’t appear on the list. The ones that don’t make the cut are the ones that could and should be delegated. If you feel everything on the list is critical, ask yourself different questions: What is it costing me to be involved in this activity? How does that compare with the benefit? For example, if you spend an entire day tracking down a lost customer order, it may cost you a contact with a new prospective customer. Give yourself permission to lead. When you stand in the viewpoint of “I am the leader,” it’s clear that you should not be intimately involved in most of the daily tasks of the business.