How to Delegate with Confidence
Entrepreneurship is all about running a successful business. The problem for most entrepreneurs is that you probably need some help doing it. You feel like you are the ‘bottleneck’ and everything is stuck with you in the way of progress.
If you are going to grow or scale your company learning how to delegate effectively and not abdicate should be one of your top priorities. It’s easy to pass off tasks, but when you do it without instruction you are abdicating. You are doing so with a plan based on the hope that the employee will complete the task and do it well. If you’ve done this, you’re certainly not alone.
We have all been there, too many things to do without enough time and someone willing to take it on. If there’s one thing that’s certain, it’s that it never ends well. If that person who did take on the task, and by chance does it well, leaves without documenting the process, you are back at square one — the task is back with you and there is still no process. That’s where delegation comes in.
How do you pass off tasks with instruction and feel like they getting done the way you want them done? It takes some work but you will be glad once the process is underway. Check out this podcast by Ryan Lazanis about carving out time to work on your business each day — a crucial task! Future Firm Accounting Podcast- First 2 Steps to Freeing up time in your firm
Where to start?
- Begin documenting your easiest tasks that don’t require your direct touch. These can be all things administrative, data entry, and setting up appointments or zoom calls. You could also pick the tasks you like the least or have the least amount of experience in.
- Match the tasks to the right person. This is also where you decide what to delegate to your team and what to outsource outside of your firm. If you are outsourcing any tasks, make sure they are experts in this area and have great referrals
- Provide training. Yes, this takes time but it is important for success and the time you’ll save in the long run will be well worth it. You have the process documented and the right person, now show them how to do it. Then watch them do the process and then let them do it on their own, following your instructions. Check to make sure it was done correctly and you should have confidence it will be done properly going forward.
How can you track if it’s being done?
Before you pass off these tasks, you need to focus on the results and let go of the need to control the process.
- Find a way to check on the completeness of the task and if it is being done correctly. You can set up a project management system like Asana for completeness. The free version of Asana connects with other systems like Google Calendar so tasks always stay in front of you! We use a practice management system, Financial Cents, to track all our tasks and make sure they are getting done.
- So how do you know if the task you pass off to someone else is being done correctly? It depends on what the task is…. For us, we can check on reports to make sure the team is doing their job correctly. To make sure our team has reconciled the bank and credit card statements following our process, we can review the reconciliation report. Are there any transactions that are more than 30 days old? Is there a reconciliation discrepancy? What was the date of reconciliation? This report answers all of these questions and therefore can tell us if the job is done correctly. In a marketing firm, you might delegate the task of posting on social media. Try using a scheduling platform that has built-in analytics that will show you what has been posted, when, and how well it was received by the audience. This allows you to see if your team posted timely, followed the strategic plan for your client, and executed killer posts that had a great engagement!
- Communicate constraints and boundaries. These are actions you want to make sure your team member doesn’t make. Make these constraints and boundaries a part of training. You might want to give parameters on what type of response they are allowed to have with clients or a response time that is appropriate.
Above all, your team needs to know your mission, vision, and priorities. If they are on board with the direction you are going in, they will be highly engaged and self-motivated and take actions that are in line with your goals.
Once you have delegated tasks and have put in place ways to track them, you are on your way to preparation for growth and scaling your company!
Our Latest Insight
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As a service-based business owner, managing finances effectively is key to growth and profitability. When looking for financial support, you may come across terms like "outsourced accounting" and "fractional accounting." While they may sound similar, they serve different purposes and offer unique benefits. Understanding the differences can help you decide which approach best suits your business needs. What is Outsourced Accounting? Outsourced accounting refers to hiring an external firm to handle bookkeeping and financial reporting tasks on an ongoing basis. This solution is ideal for businesses that need consistent, reliable financial management but don’t require a full-time, in-house accounting team. Key Benefits of Outsourced Accounting: Cost-Effective: More affordable than hiring an internal accounting department. Scalability: Services can be tailored to your business size and needs. Access to Expertise: Work with professionals who specialize in bookkeeping, payroll, and tax preparation. Technology-Driven: Many firms use cloud-based software like QuickBooks Online for efficiency and real-time reporting. What is Fractional Accounting? A fractional accounting firm provides higher-level financial strategy and decision-making support, often acting as a part-time CFO or controller. This approach is best for businesses that need more than basic bookkeeping but don’t yet require a full-time financial executive. Key Benefits of Fractional Accounting: Strategic Financial Oversight: Helps with budgeting, forecasting, and financial planning. Higher-Level Expertise: A fractional CFO or controller can provide insights beyond day-to-day transactions. Customizable Support: Businesses can engage a fractional firm for a few hours a week or month based on their needs. Growth-Focused: Ideal for scaling companies needing financial strategy without the full-time cost of an in-house CFO. Which One is Right for Your Business? The choice between outsourced and fractional accounting depends on your business size, complexity, and financial goals. Choose Outsourced Accounting if: You need reliable bookkeeping, payroll management, and financial reporting but don’t require deep financial strategy. Choose Fractional Accounting if: Your business is growing, and you need financial leadership, cash flow management, and strategic planning without the cost of a full-time CFO. The Best of Both Worlds Some firms, like First Steps Financial, offer both outsourced accounting and fractional CFO services. This allows businesses to start with outsourced accounting and scale up to fractional services as they grow, ensuring they always have the right financial support. Both outsourced accounting and fractional accounting firms can play a crucial role in your business’s success. The key is understanding where your business stands today and what level of financial expertise will help you achieve your long-term goals. If you’re unsure which option is best for you, First Steps Financial can help! Contact us today to discuss your needs and find the right financial solution for your business.
Don’t overinspect or oversupervise. Allow your leaders to make mistakes in training, so they can profit from the errors and not make them in combat. -Col. Glover Johns We had just hit the jackpot. A Chinese submarine crossed our path in an area where no one expected it to be. This should have been a massive win for U.S. intelligence, our ship, and us as SONAR technicians. But there was one problem: no one made the call. The submarine was only discovered in post-analysis days later. What should have been a career-defining success became a failure for our SONAR team due to hesitation and lack of confidence. One of my teammates saw the submarine—its frequencies matched, it behaved like a submarine, and all the indicators were there. But he didn’t speak up. He was afraid of being wrong. When this failure came to light, our team had a meeting to figure out what went wrong. The teammate who had seen it was devastated. He felt like he had failed the entire crew. Our immediate supervisor didn’t help—he picked apart every mistake, repeatedly asking, “How could you miss this? I’ve shown you this a million times!” After a few minutes of this, his boss stepped in. He asked how we were being trained. The answer was obvious to all of us. Our supervisor was a doer, not a teacher. He couldn’t stand to see mistakes, so instead of letting us learn, he micromanaged and took over. The result? We lacked the confidence and knowledge to make decisions because we had never been trusted to. At this point, you might think, “What a terrible leader!” And you’d be right—at least in this instance. But what you might not realize is that even good leaders fall into this trap. And you’re not immune to it either. If you have kids, I guarantee you’ve stepped in and done something for them because they were taking too long. If you run a business, you’ve likely taken over a task because you didn’t trust an employee to do it right. It feels like the right move in the moment, but it’s not. It is the easy way out. The answer is simple: real leadership requires patience. It’s easier to take over than to teach. So how do we break this cycle? It takes discipline. Step one: provide the right training. No one becomes an expert overnight, but they need a foundation strong enough to work from. Encourage questions and never make people feel stupid for asking. If they’re afraid to ask, they’ll be afraid to act. Step two: let go. You have to trust the people you train. Set expectations clearly and then step back. Resist the urge to jump in. Step three: debrief. Go over the work. Point out successes and failures. Then, instead of just pointing out what went wrong, show them how to do better. Follow these steps, and I guarantee you’ll build a team that has the knowledge and confidence to make the call. Written by: Marc Chianese, CPA Candidate
