Delegation can Guarantee Next Level Success to Your Small Business
It has been witnessed on many occasions that small business owners often feel reluctant to delegate work to others. They tend to wear many hats on the assumption that they have very good control over every aspect of their business. For a short period, they may be able to run the business and achieve some success. But, when it comes to moving next level and achieving success, delegating work to your employee is necessary. Precisely, delegation is a key driving force behind the success of a new company.
What is delegation?
Delegation is to entrust responsibility and authority to employees through effective leadership of the business owner. It is notable that even after delegating work to your employees, you retain sole responsibility for the success or failure of your small business. The act of delegation is done in order to accomplish a distinctly defined task, which is crucial for business growth. Many of Singapore company setup are pursuing the trend of delegating work to someone else who is proficient in doing the tasks so as to hit the success in less time.
How to delegate effectively?
Delegating can be a troublesome job for a small business owner if it has not been carried out in an effective manner. When delegating, you must be particular about what authority you are conferring on employees, because effective delegation comes with the decision making power to the specified project. Most importantly, true delegation is not about passing jobs that you dislike, this could backlash. Be wise in delegating the jobs to your employees.
Here are a few tips to delegate the tasks in an effective way:
- When you delegate the complete task to one person, it eventually gives the sole responsibility to the person to finish the task. This move can encourage the employees to bring creativity into the work.
- Be sure to select the right person to delegate the works. You are advised to assess the skills and abilities of the employee to ensure that individual can effortlessly complete the task.
- Clearly define your desired results by letting them know about the whole picture of what the result should look like, why those results are wanted and when to complete the results.
- Never assign the method of accomplishing the task to your employees. Let them handle it in their own method and skill to get the results done.
- Always keep the track of timely progress reports of the ongoing projects. For this, you can maintain open communication with the employees. But, do not hover over them.
- It is a good practice to felicitated the employees with rewards for their hard work and valuable contributions. Such practice motivates the employees to work with more zeal and dedication in the future.
How can be delegation beneficial for You?
- You have a host of skills under one roof: The employees hired by you for delegation, are most likely to bring in skills, capabilities, and experience that you do not have expertise in. With them, you can leverage their expertise to get fruitful results in business. Add to it, it cultivates team spirit in them and motivates to work cohesively.
- You have more time to focus on business: By delegating projects, you can rest assured to get quality work on time as the employees focus on keeping the business running and moving forward on the right track. Thus, delegation frees up time for planning and organizing and it allows you to focus on the next level opportunities.
- You can witness an increase in productivity in Business: Productivity is likely to increase when employees are concentrated on working what they are good at. Your effort in planning on bigger ideas of business like strategic growth and its execution will certainly contribute to the productivity.
- You can develop managerial skills: If you are sure about your own skills in managerial activities, delegation is the best way to start with. If effective steps are taken, the process involves in the course of a delegation, gives you the chance to learn and become a better manager with a strong team.
Below are tasks small business owner can consider to delegate
- Accounting / Bookkeeping / Tax Filing
- Administrative Tasks
- Customer Care Service
- Production or Labor
The above analysis will give an in-depth idea to every small business owner on how and why delegation is crucial for the growth and success. The international business hub like Singapore has witnessed a surge in adoption of the delegation process, mainly among the small and medium business, citing its manifold benefits. Some of them even delegate their non-core business fucntions to professionals like outsourced accounting services and company secretary services in Singapore. If you are set on incorporating a company in Singapore as a small business owner, you can also embrace delegation using a pool of highly qualified talents in order to witness exponential growth in business.