Think about the many things you do every day when you own your own business. When you wrap your mind around the staggering array of tasks to be done and the various skill sets necessary, it can seem like a miracle you’re successful at all. In the years I’ve been coaching small business owners it’s become evident that upwards of 90% of you are not in business because you love business for business sake, or have a MBA. You’re in business because you love to make candles, build websites, help people, or what ever your business offers.
Take Jack for example, a solo consultant who feels he’s jogging in place on one leg trying to stay a step ahead of his customers. He loves what he does and is good at it, but resists the nuts and bolts of running his business and procrastinates like crazy. In particular, he’s always stressing about his finances and worried there’s never enough in his checking account.
“Jack”, I asked, “who handles the finances for your operation?” He told me that his wife thankfully took over his books about a year ago. He was happy to be relieved of the task but had a sinking feeling that he was in a real mess.
As I coached Jack, I offer him a powerful distinction between delegating and abdicating. Delegating is when you designate another to perform a task for you. Abdicating, on the other hand, is when you relinquish or renounce your power. Jack immediately slapped his hand to his forehead and got it. In his desperation to relieve himself of a task he dreaded, he had abdicated his finances to his wife.
When you’re a business owner you have to be creative, resourceful and savvy when managing all the aspects of a business. No one can do it all them self. Delegating is a smart tool to use, but you have to make sure you are not abdicating your responsibility to supervise and stay aware of what’s important.
Jack took this advice to heart and took back control of his finances. He discovered he was doing better than he feared and felt empowered to implement a system that enabled him to keep his books himself under the supervision of a monthly bookkeeper.
What’s more, Jack no longer feels overwhelmed by running his business like a business. He’s excited about it! It’s amazing how one little idea can cause a shift in your perspective and change everything.
It’s YOUR life…imagine the possibilities!