Are You Tired of Doing Your Business Instead of Running It? - April, 2017

When you started your business, of course you did every aspect of it from conceptualization to actualization.  There was no one else!  There was also a sense of pride in knowing that you were completely responsible for all the success you achieved.  But as time has worn on and your business has taken flight, do you still find yourself doing it all?  When is it time to begin to let go, and which functions should you consider delegating?  To whom should you give those responsibilities?  

​Consider what you charge your customers for your time when you offer your services to them.  For instance, consider an attorney who bills his/her clients $300 an hour.  Is it more cost-efficient for the attorney to spend time with a client charging $300 an hour, or spend time in the office typing letters to request client records?  With clients being more cognizant of how they spend their dollars, would it make more sense to contract with a virtual assistant to take over the typing, ordering, tracking and summarizing those records for you?  Would your client be happier paying far less than $300 an hour for those services? 

What could you delegate in your business?  How about:

• Routine correspondence and communications with staff, clients and vendors;
• Regular newsletters, email blasts, and database management;
• Travel arrangements, vehicle maintenance;
• Meeting coordination;
• Event planning such as monthly meetings, open houses, special events, sales, tradeshows, fundraisers, etc.;
• Website management, blogging, social media posting;
• Marketing, public relations functions such as content development, advertising, campaign development, and press releases;
• Human resource functions such as recruiting, initial interviews, and background checks; 
• Bookkeeping, accounts payable, accounts receivable, invoice management, etc.; and
• Industry-specific functions such as CLE/CLU reporting, time entry, etc.

​Consider letting go of some these things to save yourself money, time and become more efficient.  You'll find you may actually have more time for your family, friends, hobbies, and enjoying a walk with your family pet.  Spring is here! Go enjoy it!

'til next time,
​Ronnie