Delegate Taks to Focus on Leading

Delegation – The Vital Step to Staying in Your Strengths

Delegation is the key to getting your business to the next level. Those that excel at it thrive; those that don’t wither.

If you are doing the same stuff that you were doing a year ago, you are dying a slow death. If you’re not growing, you’re dieing, and that is true both personally and professionally. Things change, and you need to be changing with them.

How to Delegate

Honestly ask yourself these questions:

  • Are you currently doing things in your business that you know you could hire others to do, and they would do them close to 80% of the level you could do them?
  • If you were to delegate those task to others, would that free you up to do things in your business that would generate additional revenue?

If your answer is yes to those questions, you should look at delegation. Deciding to do it is tough because others most likely won’t do it as good as you. That’s why you’re the boss; however, if you don’t bring in others and have a delegation system, you won’t outgrow yourself.

Once you have been able to delegate your roles, you have essentially duplicated yourself, and the more times you duplicate yourself, the faster your business grows. The key to delegation is having a system behind it. If you just give people a list of things to do but give them no direction and no quality checks, you will fail.

Creating a System to Delegate Tasks

So, what does a system look like? Well, I can’t explain it all here, but if you really want to get great at this concept, there are many great resources on how to do so. The book How to be a Great Boss by Gino Wickman and Rene Boer is a great place to start. Here are some ideas in the meantime.

  • Checklist – You probably either hate creating them or hate following them, but you and your people need them. Therefore, create a checklist that has the specific things you are delegating. Then, ensure that the checklist is broken up into time frames. Things that you are delegating daily, weekly, monthly, or yearly.

When I was stuck behind the desk at one of our first companies, it took me about two hours to get the facility ready for the day. A ton of crazy simple, yet very boring, tasks that anyone could do. The best thing I ever did was document each and every one of those items and film myself doing the tasks, explaining what and why I was doing it. The first manager I hired as a part-time person to come in every morning for two hours and get the facility ready. That gave me two more hours to focus on sales and marketing. I was paying him $15 an hour, and I was generating ten times that much due to the extra time I spent drumming up new business.

Delegation can be a great friend or an enemy, based on your ability to do it well and do it often.

Do you want to learn more about delegating your tasks so that you can focus on growing your business? Contact us today to learn how we can help you.

Core Focus – Zero in on Your Strengths

Hedgehog Concept from an Atlanta Business CoachYour core focus is what you do, and with absolute clarity, you should be able to define it in two truths: your reason for being and your niche. There is a concept, called the hedgehog concept that helps to put this idea together. Chapter five in the book Good to Great talks about it.

That point in the middle can be your company’s core focus: what you love doing, what you’re the best at, and what makes your money. If you have those three, go to the middle, and that’s where you can define your core focus.

Putting It Together

Take for example this scenario. One of our company’s last acquisitions was a business that did not have a core focus.

We bought a multi-sport training complex, a $500,000 revenue business that the owners invested 1.5 million to get going, who after three years was ready to leave the business. He couldn’t figure it out. Why? He did not have a Core Focus.

Instead of trying to reach a target customer, they were targeting customers all over the board. They did not know who they were or their niche.

What did we do to turn this business from a business valued at $150,000 to a business worth $1,500,000 two years later? We developed a core focus. Seems simple, but it was not easy.

You remember it was a multi-sport facility. They were trying to be all things to all people. At a closer look, we realized that they offered six sports, but two of those sports brought in 80% of the revenue. So, we dropped the other four, focusing on the two that brought in most of the business, and we became the best provider of those two sports not only in Atlanta but also, I would say, the world. We were the best facility in the world at training only baseball and softball players only after ditching football, soccer, lacrosse, and basketball.

Then, we got even more narrowly focused. Again, we did a deep dive into the business. Of all the baseball and softball business, 80% of it was players between the ages of 5 and 12. So, we then became the very best at providing baseball and softball instruction to 5 to 12-year-old players.

As a result, we created a successful yet significant business that knew who our customer was, and we became the best at serving those niche customers.

Find Your Core Focus

What do you want to be the very best at? If you can’t be the best, let someone else try and only focus on what you can be the very best at. Hopefully, its something you love and something that makes money, and then, you have the perfect hedgehog concept.

Are you struggling to find your focus? Contact us today to see how we can help you find your niche.

Core Values

Core Values – Know Who You Are

This part is all about “Who you are.” This small set of principles will guide your company along the often time tumultuous path. When times are good, these keep you humble, and when things are not working well, these core values encourage you.

These values define your culture and who you are at your most inner core. Once you get these items on paper, start promoting them; you will start attracting the right type of employees and customers. You will also most likely get rid of those that don’t believe in those same values, or they will most likely leave.

We take each company through a process to dig down deep into their soul to ensure we dig out the gold deep down inside., bring the entire leadership team in to get them to look inside for these values.

Here is the exercise that our coach took us through. The first step was getting everyone on your leadership team in a room and follow this exercise:

Meeting Exercise

  1. Have everyone write down at least five people they admire in business and life.
  2. Write down the name and the qualities they embody that is desirable.
  3. Go around the room and share the people and their qualities.
  4. Write every quality mentioned on the board.

Examples of Qualities:

  1. Works hard
  2. Stays true to their conviction
  3. Compassionate
  4. Honest
  5. Has Fun

When your team lists their examples, your Core Values are hidden in the list. Circle which values are the best. During this process, you may want to combine some or discard some. The overall goal, however, is to highlight three to seven qualities.

Once you have the best qualities circled, it is time to debate and find out which ones are at the core of your business.

Resources for Creating Core Values

You can find great examples on page 38 in the book Traction.

Once you have identified your Core Values, you will easily decide:

  • Who to hire
  • Who does not fit into the organization
  • What businesses to partner with
  • What vendors to work with
  • What customers to work with

These core values will be used to analyze people in which you interact. Your core values are the heartbeat of your company. They are the filter that all decisions flow through.

As an example, these are Legacy 4:12’s Core Values.

Legacy 4:12 Core Values:
S. teward Well Time, Money & Resources
T. ransparent in Our Relationships
A. chieve Excellence in Every Aspect of Business
N. urture all Legacies
D. iligent in Business Practices

Still not sure about creating your Core Values? Contact Legacy 4:12 today to learn how we can help you.

Creating a One-Year Plan for Your Business

Your Company’s Vision – Part Three

Creating a One-Year Plan

This part is when the work gets fun. You need a goal post to know where you will be going over the next year. Create a statement that says, “One year from today this business WILL BE.” I put that in caps because this will and must happen. If you ever want to get to your three-year or ten-year goal, you must hit the goals within that first year.

Review Your Ten- and Three-Year Plan

Remember that each of the goals works in tandem as you move backward through the plan. While the ten-year goal is an ideal place, the three-year goal is a more specific picture of where you want the business to be in three years.

Your three-year plan should be a S.M.A.R.T. one. Smart stands for

Specific
Measurable
Attainable
Realistic
Timeframed

Remember to get the whole team on the same page; it may take a while, but the creating the one-year plan will be easier if everyone is on board with the ten- and three-year goals.

Your three-year goal should include one or two very specific figures that are a telltale sign of the size of the organization. Once you’re your three-year revenue and profit goal, you can begin to develop the roadmap to get there through the one-year plan.

Developing the Plan

Don’t think of this as an arbitrary date. It does not have to be one year from today, but it needs to be in a short time-frame.

Remember you want those in your leadership team to set these goals with you. Whenever you get with your team, you can pick a goal together. To do this step, just look at the numbers and decide on the revenue goal, profit goal, and how will you measure your progress?

Now, to make that one-year plan a reality, you and your team will need to decide the top things that must be done to make that goal happen. These could be anywhere from three to seven things that need to get done. These things, then, need to be made S.M.A.R.T just like the three-year plan, and the entire team must agree upon them.

How This Works

In 2012, I was running the day-to-day operations as an owner-operator of a 1.5 million-dollar business in Atlanta. I was the CEO, COO, CMO, and chief janitor (cleaning up all the messes). You name the role; I was probably doing it. I told myself on New Year’s Eve that one year from today I would get myself out of customer-facing roles. I would no longer be answering the phones, dealing with customer complaints, and taking payments. This plan was my S.M.A.R.T. goal.

One-Year Plan – Remove myself from day-to-day customer facing issues

Milestone 1: I needed to detail and document all of the items in our company that were customer facing. Anything that deals with a customer, I had to document it.

Due Date: January 15th

Milestone 2: I then wrote a manual that dealt with every single customer-facing situation that takes place and detailed what should happen and why.

Due Date: February 28th

Milestone 3: I developed a scorecard metric that allowed me to monitor my replacement to ensure the person was keeping the same level of service that I provided.

Due Date: March 31st

Milestone 4: I took the written manual and turned those into training videos. I did this so when we hired new employees I wasn’t just telling them to read a book (some people don’t like that), but they also saw me doing it in person. Even though I didn’t have the time to train everyone one-on-one, each person watched a hands-on video of me giving the same instructions.

Due Date: May 31st

Milestone 5: I created a people analyzer to ensure that I hired the right person for the customer facing role that I was about to hire. I needed to make sure I knew the specific type of person I needed to replace me.

Milestone 6: I hired, trained, and managed my replacement through a 90-day period to see if the new hire could duplicate my efforts.

Due Date: August 31st

Putting It All Together

Through this process, I was able to hire someone else to do the job that I was doing with a great system in place to train the employee and hold this person accountable. By creating this system, my replacement was able to perform at the same level I did.

If you need to do the same, it provides a great foundation for your plan to get someone to do the job at or close to the same level you performed it. Then, you can do what you do best.

Many business owners today are stuck working IN the business vs. ON it. This simple, but not easy, plan shows you how I got out from behind the counter and got back to what I do best, working on my business.

I hope that you can use this information to develop your own one-year plan that will help you get to a point where you can begin to work on the business rather than work in it.

Would you like to find help creating your one-year plan? Contact Legacy 4:12 today to see how can help you do what you do best.

Creating a Three Year Plan for Your Business

Your Company’s Vision – Part Two

Creating a Three-Year Plan

Three years from today, your business will be ___ (fill in the blank). You need to have an answer, or you are flying blind. You don’t need just any answer, though, you want a S.M.A.R.T answer. Smart stands for

Specific
Measurable
Attainable
Realistic
Timeframed

Be Sure to Have a Ten-Year Plan First

But before developing your three-year plan, let us review the ten-year plan from our last blog. That plan is more of a wish or a dream scenario. It is your ideal point of where you want to be at the end of a ten-year period.

As great as the 10-year target is, spending a ton of time on that step isn’t as important as detailing your three-year picture. The return on developing your three-year picture is huge, however. The key is with the three-year picture; it ideally gives you a very clear insight of what you need to do in the next year.

Now, you see how it’s starting to work. The 10-year plan leads to the three-year plan, and then to the one-year plan (stay tuned). Eventually, we will get down to weekly plans. It’s a brilliant system and way to achieve your objective ultimately.

Starting Your Three-Year Plan

If you do not have someone in your business thinking and documenting what you want to achieve and where you want to be in three years, you are behind the eight ball. Now if you do have someone doing these things with your senior leadership team (and it’s on paper) as well as taking actionable steps, great job.

The first thing you can start to do is think of the revenue you want to generate as a company. You should be able to get a general idea of what you want that to be. You are probably going to get several different answers so stick with it. Ideally, it will take some discussion, but once you get everyone on the same page, they will be able to co-exist and work well. Be S.M.A.R.T here. Growing revenue often comes with added expenses and challenges. Be sure to address these issues with the team and agree on a solid revenue goal.

What’s revenue without profit? So, that’s the next step. Find what your profit goal is, and this should be much easier since you already know your basics margins. Then, after the profit is set, it’s time to discuss certain measurables. This discussion will give everyone scope and size. It’s key that every organization has one or two very specific figures that are a telltale sign of the size of the organization.

Resources for Creating Your Plan

There are several more steps to ensure a great three-year picture, be sure to pick up your copy of Traction by Gino Wickman today to learn more.

Would you like to find help with your three-year target? Contact Legacy 4:12 to see if we can help you create a S.M.A.R.T answer.