Several years ago, I remember watching an episode of Shark Tark.

Kevin O'Leary (Mr. Wonderful) was discussing the strategy in having 9 partners in the toy business they ultimately sold for over $4 billion.

He said something to the effect of: We all needed each other; we each had different strengths.

 

This leads to me to today's email:

 

 

2 -- Be aware enough to delegate tasks that are below your pay grade -- So, let's say you average your earnings to approximately $100 per hour. You should avoid taking on business tasks (administrative, financial, etc.) that you can pay someone $20 or $30 to do. By handling those simple tasks yourself, you're in essence losing money. Instead, pay someone else to do them while you can focus on bringing in the higher pay.

 

 3 -- Be astute enough to delegate tasks that require someone more skilled, smarter or more experienced than you -- This might be the toughest one for us to do. As business owners, we want to be involved in all aspects of our company, often micromanaging everything. Often, it's hard for us to admit we don't know it all. Sometimes a problem requires a different perspective. Don't shy away from pulling someone in who has you beat in the brain power department. There's nothing to be ashamed of in doing that. In fact, it's admirable. You'll find that delegating this type of task is the most rewarding because you will have overcome the ego.

 

There are some other things you can probably delegate, but if you start with these three, and implement them, you will be way ahead of the game.