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Duties of an Entrepreneur - And How To Delegate Them

Let's discuss maximizing your potential as an entrepreneur.

As we repeatedly checked several important factors in previous posts, we noted some elements that kept on coming up. So from our deep-dive on creating guidelines for business owners to scale up, we’ve determined the top three duties of an entrepreneur and how to delegate them.

Business Strategist

Whether you are in retailing, a tech startup or a service provider, you are the master planner of the venture you’ve decided to take on. When starting out, you should be the one to clearly identify who your customers will be and what your product or service offerings are. You must establish how these deliverables are going to be completed. And finally, you must have a clear view of how are you going to make money out of it.

As the business grows, however, delegating this may become necessary. As one of the top duties of an entrepreneur, passing this on to someone else could be tricky. To effectively scale up, you might...

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How To Delegate

Save At Least 50 Hours a Year with this One Delegation Tactic.

Admittedly, learning how to delegate effectively is not something learned overnight.  If you are good at what you do, you've likely mastered your craft and have found some ways to be good at other areas of your business. Learning to let go - and the fear of losing control - is real for many entrepreneurs.  Delegation takes practice, refinement, and updating.  But you have to start!  Let's dive in to see why delegating is so effective and ways to get started in learning how to delegate.

Let's Start With A Delegation Example

If you're in business, you're collecting money. (Last time I checked you had to be making some money to be in business.)  So let's start here and discuss one small area of your workweek in collecting payments.

Let's say you've mostly automated your invoicing, reconciling payments, etc.  You've got it down to a science and you can do all the manual invoicing or reviewing of...

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How to Delegate Tasks Effectively

Delegating helps you get more done and is essential to being an effective leader. To realize your organization’s maximum capacity, learn to improve the skill of effective delegation. Just like any other skill, this can be acquired and enhanced. Here are three proven tricks on how to delegate tasks effectively and watch your team succeed.

1. Trust your team as you delegate.

Sometimes it can be difficult for a dedicated entrepreneur or a leader to trust someone else to do something that they have mastered through time. Being able to trust that your subordinates can learn the abilities and skills required to complete a deliverable efficiently is crucial.

If you are uncomfortable about this, start with delegating the smallest responsibilities. Then progressively increase the responsibility. Your concern should be the outcome, not the minute details of the process. This will give you time to get to know your employee’s strengths and weaknesses and builds camaraderie among the...

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