![\"\"](\"https:\/\/ecngx364.inmotionhosting.com\/~capcon7\/wp-content\/uploads\/owner-as-bottleneck-cycle.png\")
<\/figure>\n<\/p>\n
<\/p>\n
What Do You Want <\/em>To Do?\u00a0<\/h2>\n<\/p>\n
<\/p>\n
I recently chatted with a client I\u2019ve been working with about what his experience has been. Jim* said, \u201cLorne, I finally realized that my business would never grow if I kept insisting on doing or touching everything myself. I had to get out of my own way and empower other people to help.\u201d\u00a0<\/p>\n
<\/p>\n
<\/p>\n
If this sounds familiar, you aren\u2019t alone. And changing your perspective is simple (though not always easy). First, I recommend setting aside a little time and asking yourself a few questions:\u00a0\u00a0<\/p>\n
<\/p>\n
<\/p>\n
\n<\/ul>\n<\/ul>\n <\/p>\n
\n\n- What do I want<\/em> to do in my business?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
\n\n- What am I best<\/em> at?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
\n\n- What would I delegate if I could?\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
\n\n- What do I want my life to look like now? How would I describe my ideal life today?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
\n\n- What do I want my life to look like in a year? Five years?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
<\/p>\n
Notice that these questions prompt you to step back from the minutiae and look at the bigger picture, both in your business and in your life in general. You\u2019ve heard it before, and I\u2019m going to remind you again \u2013 without a goal, you will find yourself off track<\/strong>.\u00a0And you will remain one of your biggest barriers.<\/p>\n<\/p>\n
<\/p>\n
Now, let\u2019s look at how you spend your time in your business.\u00a0<\/p>\n
<\/p>\n
<\/p>\n
Do a Time Audit\u00a0<\/h2>\n
<\/p>\n
<\/p>\n![\"\"](\"https:\/\/ecngx364.inmotionhosting.com\/~capcon7\/wp-content\/uploads\/time-audit-1-200x300.png\")
<\/figure>\n<\/p>\n
<\/p>\n
Before you can answer the questions about your business, you may need to do a time audit to see exactly <\/em>what you do every day. I recommend keeping track for a week. Every hour, make a list of what you spent your time on, in 15-minute increments.\u00a0<\/p>\n<\/p>\n
<\/p>\n
At the end of the week, look at your notes and identify the categories of tasks you do.\u00a0\u00a0<\/p>\n
<\/p>\n
<\/p>\n
\n<\/ul>\n<\/ul>\n <\/p>\n
\n\n- What is administrative<\/strong>?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
\n\n- What is financial<\/strong>?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
\n\n- What is sales<\/strong> and business development<\/strong>?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
\n\n- Are you still actively involved in operations<\/strong>? If so, how?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
\n\n- Are you also involved in customer service<\/strong> or legal<\/strong>?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
<\/p>\n
Then, quantify how much time you are spending in each of these categories.\u00a0\u00a0<\/p>\n
<\/p>\n
<\/p>\n
What Can You Hand Off?\u00a0<\/h2>\n
<\/p>\n
<\/p>\n
Now that you know what you\u2019re doing as the head of your business, it\u2019s time to delegate. The first step is to highlight the things you absolutely must<\/em> be the person to do. Also take note of the areas you are best at. Before you can exit your business, you have to hand off everything<\/em>, even these. For now, narrowing your scope to only what you as the CEO must<\/em> do will create more space for you to plan your exit and make it happen.\u00a0\u00a0<\/p>\n<\/p>\n
<\/p>\n
Remember opportunity cost \u2013 if you\u2019re doing mundane bookkeeping or administrative tasks, you\u2019ve not only put your most skilled and expensive labor on that task but you have also lost that time you could have used for things only you can do.\u00a0\u00a0<\/p>\n
<\/p>\n
<\/p>\n
With this in mind, look at the list of items remaining \u2013 the things others can do and are better at. This is where you start taking yourself out of the equation.\u00a0\u00a0<\/p>\n
<\/p>\n
<\/p>\n
Are You One of Your Biggest Barriers?\u00a0<\/h2>\n
<\/p>\n
<\/p>\n
If the idea of letting someone else handle approvals or quality assurance gives you hives, you may want to start with some of the easier tasks. However, you won\u2019t begin to see an increase in your bandwidth until you empower someone else to approve work. Yes, it will take time, training, and allowing for mistakes to happen. In the long run, it is worth the effort and potential frustration today.\u00a0\u00a0<\/p>\n
<\/p>\n
<\/p>\n
We recommend getting some additional input at this point. Your team can help you identify some quick wins to free up time immediately and let you begin to experience the benefits of delegating tasks. They can also help you decide who is best to hand various responsibilities to. An external advisor can also provide a neutral perspective devoid of any of the emotion and baggage that can accompany making changes like this. If you\u2019ve had a bad experience in the past trying to delegate, you will have to work through your fear of repeating that.\u00a0<\/p>\n
<\/p>\n
<\/p>\n
In our next article, we\u2019ll talk about the importance of thinking about your life outside of work. Creating a clear vision of what you\u2019re working toward can help keep you focused and motivated to do the hard work of training and handing off responsibilities in your business.<\/p>\n
<\/p>\n
<\/p>\n
This is the third article in a series on the importance of exit planning. Read the first two here: <\/em><\/p>\n<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
*Name changed to protect anonymity <\/em>\u00a0<\/p>\n<\/p>[\/et_pb_text][et_pb_post_nav _builder_version=”4.27.2″ _module_preset=”default” in_same_term=”on” hover_enabled=”0″ sticky_enabled=”0″][\/et_pb_post_nav][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.2″ _module_preset=”default”][et_pb_column _builder_version=”4.27.2″ _module_preset=”default” type=”4_4″][et_pb_divider _builder_version=”4.27.2″ _module_preset=”default” color=”#eeeef0″ hover_enabled=”0″ sticky_enabled=”0″][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.2″ _module_preset=”default”][et_pb_column _builder_version=”4.27.2″ _module_preset=”default” type=”4_4″][et_pb_text _builder_version=”4.27.2″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″]
Related Articles<\/h1>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.2″ _module_preset=”default”][et_pb_column _builder_version=”4.27.2″ _module_preset=”default” type=”4_4″][et_pb_blog _builder_version=”4.27.2″ _module_preset=”default” include_categories=”current” posts_number=”3″ show_thumbnail=”off” show_author=”off” show_date=”off” show_categories=”off” fullwidth=”off” body_text_align=”justify” border_width_all=”0px” hover_enabled=”0″ sticky_enabled=”0″][\/et_pb_blog][\/et_pb_column][\/et_pb_row][\/et_pb_section]","protected":false},"excerpt":{"rendered":"
It can be a self-perpetuating cycle: a business owner tells me she knows she needs to delegate so she can create bandwidth to plan ahead. But she can\u2019t hand anything off because she hasn\u2019t documented her processes which would allow someone else to follow the same steps and get similar results. Why hasn\u2019t this happened? Because she doesn\u2019t have time because she has so much on her plate. <\/p>\n
Read the article to learn how to break this cycle and get out of your own way. <\/p>\n","protected":false},"author":9,"featured_media":1007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"\n
It can be a self-perpetuating cycle: a business owner tells me she knows she needs to delegate so she can create bandwidth to plan ahead. But she can\u2019t hand anything off because she hasn\u2019t documented her processes which would allow someone else to follow the same steps and get similar results. Why hasn\u2019t this happened? Because she doesn\u2019t have time because she has so much on her plate. One of her biggest barriers is herself.<\/p>\n\n\n\n<\/figure>\n\n\n\nWhat Do You Want <\/em>To Do? <\/h2>\n\n\n\nI recently chatted with a client I\u2019ve been working with about what his experience has been. Jim* said, \u201cLorne, I finally realized that my business would never grow if I kept insisting on doing or touching everything myself. I had to get out of my own way and empower other people to help.\u201d <\/p>\n\n\n\n
If this sounds familiar, you aren\u2019t alone. And changing your perspective is simple (though not always easy). First, I recommend setting aside a little time and asking yourself a few questions: <\/p>\n\n\n\n
\n- What do I want<\/em> to do in my business? <\/li>\n\n\n\n
- What am I best<\/em> at? <\/li>\n\n\n\n
- What would I delegate if I could? <\/li>\n\n\n\n
- What do I want my life to look like now? How would I describe my ideal life today? <\/li>\n\n\n\n
- What do I want my life to look like in a year? Five years? <\/li>\n<\/ul>\n\n\n\n
Notice that these questions prompt you to step back from the minutiae and look at the bigger picture, both in your business and in your life in general. You\u2019ve heard it before, and I\u2019m going to remind you again \u2013 without a goal, you will find yourself off track<\/strong>. And you will remain one of your biggest barriers.<\/p>\n\n\n\nNow, let\u2019s look at how you spend your time in your business. <\/p>\n\n\n\n
Do a Time Audit <\/h2>\n\n\n\n<\/figure>\n\n\n\nBefore you can answer the questions about your business, you may need to do a time audit to see exactly <\/em>what you do every day. I recommend keeping track for a week. Every hour, make a list of what you spent your time on, in 15-minute increments. <\/p>\n\n\n\nAt the end of the week, look at your notes and identify the categories of tasks you do. <\/p>\n\n\n\n
\n- What is administrative<\/strong>? <\/li>\n\n\n\n
- What is financial<\/strong>? <\/li>\n\n\n\n
- What is sales<\/strong> and business development<\/strong>? <\/li>\n\n\n\n
- Are you still actively involved in operations<\/strong>? If so, how? <\/li>\n\n\n\n
- Are you also involved in customer service<\/strong> or legal<\/strong>? <\/li>\n<\/ul>\n\n\n\n
Then, quantify how much time you are spending in each of these categories. <\/p>\n\n\n\n
What Can You Hand Off? <\/h2>\n\n\n\n
Now that you know what you\u2019re doing as the head of your business, it\u2019s time to delegate. The first step is to highlight the things you absolutely must<\/em> be the person to do. Also take note of the areas you are best at. Before you can exit your business, you have to hand off everything<\/em>, even these. For now, narrowing your scope to only what you as the CEO must<\/em> do will create more space for you to plan your exit and make it happen. <\/p>\n\n\n\nRemember opportunity cost \u2013 if you\u2019re doing mundane bookkeeping or administrative tasks, you\u2019ve not only put your most skilled and expensive labor on that task but you have also lost that time you could have used for things only you can do. <\/p>\n\n\n\n
With this in mind, look at the list of items remaining \u2013 the things others can do and are better at. This is where you start taking yourself out of the equation. <\/p>\n\n\n\n
Are You One of Your Biggest Barriers? <\/h2>\n\n\n\n
If the idea of letting someone else handle approvals or quality assurance gives you hives, you may want to start with some of the easier tasks. However, you won\u2019t begin to see an increase in your bandwidth until you empower someone else to approve work. Yes, it will take time, training, and allowing for mistakes to happen. In the long run, it is worth the effort and potential frustration today. <\/p>\n\n\n\n
We recommend getting some additional input at this point. Your team can help you identify some quick wins to free up time immediately and let you begin to experience the benefits of delegating tasks. They can also help you decide who is best to hand various responsibilities to. An external advisor can also provide a neutral perspective devoid of any of the emotion and baggage that can accompany making changes like this. If you\u2019ve had a bad experience in the past trying to delegate, you will have to work through your fear of repeating that. <\/p>\n\n\n\n
In our next article, we\u2019ll talk about the importance of thinking about your life outside of work. Creating a clear vision of what you\u2019re working toward can help keep you focused and motivated to do the hard work of training and handing off responsibilities in your business.<\/p>\n\n\n\n
This is the third article in a series on the importance of exit planning. Read the first two here: <\/em><\/p>\n\n\n\n\n- Introduction to Exit Planning<\/span><\/a><\/em><\/li>\n\n\n\n
- Common Barriers to a Successful Business Exit<\/span><\/a><\/em><\/li>\n<\/ul>\n\n\n\n
*Name changed to protect anonymity <\/em> <\/p>\n","_et_gb_content_width":"960","footnotes":""},"categories":[14],"tags":[12],"class_list":["post-672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exit-planning","tag-exit-planning"],"yoast_head":"\nAre You One of Your Biggest Barriers - 202602_CCUSA_Staging<\/title>\n<meta name=\"description\" content=\"If you are one of your biggest barriers, read this article to learn how to break this cycle and get out of your own way.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/capconceptsusa.com\/202602staging\/biggest-barriers-you\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are You One of Your Biggest Barriers - 202602_CCUSA_Staging\" \/>\n<meta property=\"og:description\" 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- <\/ul>\n<\/ul>\n
- What do I want<\/em> to do in my business?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
- \n
- What am I best<\/em> at?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
- \n
- What would I delegate if I could?\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
- \n
- What do I want my life to look like now? How would I describe my ideal life today?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
- \n
- What do I want my life to look like in a year? Five years?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
<\/p>\n
Notice that these questions prompt you to step back from the minutiae and look at the bigger picture, both in your business and in your life in general. You\u2019ve heard it before, and I\u2019m going to remind you again \u2013 without a goal, you will find yourself off track<\/strong>.\u00a0And you will remain one of your biggest barriers.<\/p>\n
<\/p>\n
<\/p>\n
Now, let\u2019s look at how you spend your time in your business.\u00a0<\/p>\n
<\/p>\n
<\/p>\n
Do a Time Audit\u00a0<\/h2>\n
<\/p>\n
<\/p>\n
<\/figure>\n<\/p>\n
<\/p>\n
Before you can answer the questions about your business, you may need to do a time audit to see exactly <\/em>what you do every day. I recommend keeping track for a week. Every hour, make a list of what you spent your time on, in 15-minute increments.\u00a0<\/p>\n
<\/p>\n
<\/p>\n
At the end of the week, look at your notes and identify the categories of tasks you do.\u00a0\u00a0<\/p>\n
<\/p>\n
<\/p>\n
- \n
- What is administrative<\/strong>?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
- \n
- What is financial<\/strong>?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
- \n
- What is sales<\/strong> and business development<\/strong>?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
- \n
- Are you still actively involved in operations<\/strong>? If so, how?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
- \n
- Are you also involved in customer service<\/strong> or legal<\/strong>?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
<\/p>\n
<\/p>\n
Then, quantify how much time you are spending in each of these categories.\u00a0\u00a0<\/p>\n
<\/p>\n
<\/p>\n
What Can You Hand Off?\u00a0<\/h2>\n
<\/p>\n
<\/p>\n
Now that you know what you\u2019re doing as the head of your business, it\u2019s time to delegate. The first step is to highlight the things you absolutely must<\/em> be the person to do. Also take note of the areas you are best at. Before you can exit your business, you have to hand off everything<\/em>, even these. For now, narrowing your scope to only what you as the CEO must<\/em> do will create more space for you to plan your exit and make it happen.\u00a0\u00a0<\/p>\n
<\/p>\n
<\/p>\n
Remember opportunity cost \u2013 if you\u2019re doing mundane bookkeeping or administrative tasks, you\u2019ve not only put your most skilled and expensive labor on that task but you have also lost that time you could have used for things only you can do.\u00a0\u00a0<\/p>\n
<\/p>\n
<\/p>\n
With this in mind, look at the list of items remaining \u2013 the things others can do and are better at. This is where you start taking yourself out of the equation.\u00a0\u00a0<\/p>\n
<\/p>\n
<\/p>\n
Are You One of Your Biggest Barriers?\u00a0<\/h2>\n
<\/p>\n
<\/p>\n
If the idea of letting someone else handle approvals or quality assurance gives you hives, you may want to start with some of the easier tasks. However, you won\u2019t begin to see an increase in your bandwidth until you empower someone else to approve work. Yes, it will take time, training, and allowing for mistakes to happen. In the long run, it is worth the effort and potential frustration today.\u00a0\u00a0<\/p>\n
<\/p>\n
<\/p>\n
We recommend getting some additional input at this point. Your team can help you identify some quick wins to free up time immediately and let you begin to experience the benefits of delegating tasks. They can also help you decide who is best to hand various responsibilities to. An external advisor can also provide a neutral perspective devoid of any of the emotion and baggage that can accompany making changes like this. If you\u2019ve had a bad experience in the past trying to delegate, you will have to work through your fear of repeating that.\u00a0<\/p>\n
<\/p>\n
<\/p>\n
In our next article, we\u2019ll talk about the importance of thinking about your life outside of work. Creating a clear vision of what you\u2019re working toward can help keep you focused and motivated to do the hard work of training and handing off responsibilities in your business.<\/p>\n
<\/p>\n
<\/p>\n
This is the third article in a series on the importance of exit planning. Read the first two here: <\/em><\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
*Name changed to protect anonymity <\/em>\u00a0<\/p>\n
<\/p>[\/et_pb_text][et_pb_post_nav _builder_version=”4.27.2″ _module_preset=”default” in_same_term=”on” hover_enabled=”0″ sticky_enabled=”0″][\/et_pb_post_nav][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.2″ _module_preset=”default”][et_pb_column _builder_version=”4.27.2″ _module_preset=”default” type=”4_4″][et_pb_divider _builder_version=”4.27.2″ _module_preset=”default” color=”#eeeef0″ hover_enabled=”0″ sticky_enabled=”0″][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.2″ _module_preset=”default”][et_pb_column _builder_version=”4.27.2″ _module_preset=”default” type=”4_4″][et_pb_text _builder_version=”4.27.2″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″]
Related Articles<\/h1>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.2″ _module_preset=”default”][et_pb_column _builder_version=”4.27.2″ _module_preset=”default” type=”4_4″][et_pb_blog _builder_version=”4.27.2″ _module_preset=”default” include_categories=”current” posts_number=”3″ show_thumbnail=”off” show_author=”off” show_date=”off” show_categories=”off” fullwidth=”off” body_text_align=”justify” border_width_all=”0px” hover_enabled=”0″ sticky_enabled=”0″][\/et_pb_blog][\/et_pb_column][\/et_pb_row][\/et_pb_section]","protected":false},"excerpt":{"rendered":"
It can be a self-perpetuating cycle: a business owner tells me she knows she needs to delegate so she can create bandwidth to plan ahead. But she can\u2019t hand anything off because she hasn\u2019t documented her processes which would allow someone else to follow the same steps and get similar results. Why hasn\u2019t this happened? Because she doesn\u2019t have time because she has so much on her plate. <\/p>\n
Read the article to learn how to break this cycle and get out of your own way. <\/p>\n","protected":false},"author":9,"featured_media":1007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"\n
It can be a self-perpetuating cycle: a business owner tells me she knows she needs to delegate so she can create bandwidth to plan ahead. But she can\u2019t hand anything off because she hasn\u2019t documented her processes which would allow someone else to follow the same steps and get similar results. Why hasn\u2019t this happened? Because she doesn\u2019t have time because she has so much on her plate. One of her biggest barriers is herself.<\/p>\n\n\n\n
<\/figure>\n\n\n\nWhat Do You Want <\/em>To Do? <\/h2>\n\n\n\n
I recently chatted with a client I\u2019ve been working with about what his experience has been. Jim* said, \u201cLorne, I finally realized that my business would never grow if I kept insisting on doing or touching everything myself. I had to get out of my own way and empower other people to help.\u201d <\/p>\n\n\n\n
If this sounds familiar, you aren\u2019t alone. And changing your perspective is simple (though not always easy). First, I recommend setting aside a little time and asking yourself a few questions: <\/p>\n\n\n\n
- \n
- What do I want<\/em> to do in my business? <\/li>\n\n\n\n
- What am I best<\/em> at? <\/li>\n\n\n\n
- What would I delegate if I could? <\/li>\n\n\n\n
- What do I want my life to look like now? How would I describe my ideal life today? <\/li>\n\n\n\n
- What do I want my life to look like in a year? Five years? <\/li>\n<\/ul>\n\n\n\n
Notice that these questions prompt you to step back from the minutiae and look at the bigger picture, both in your business and in your life in general. You\u2019ve heard it before, and I\u2019m going to remind you again \u2013 without a goal, you will find yourself off track<\/strong>. And you will remain one of your biggest barriers.<\/p>\n\n\n\n
Now, let\u2019s look at how you spend your time in your business. <\/p>\n\n\n\n
Do a Time Audit <\/h2>\n\n\n\n
<\/figure>\n\n\n\nBefore you can answer the questions about your business, you may need to do a time audit to see exactly <\/em>what you do every day. I recommend keeping track for a week. Every hour, make a list of what you spent your time on, in 15-minute increments. <\/p>\n\n\n\n
At the end of the week, look at your notes and identify the categories of tasks you do. <\/p>\n\n\n\n
- \n
- What is administrative<\/strong>? <\/li>\n\n\n\n
- What is financial<\/strong>? <\/li>\n\n\n\n
- What is sales<\/strong> and business development<\/strong>? <\/li>\n\n\n\n
- Are you still actively involved in operations<\/strong>? If so, how? <\/li>\n\n\n\n
- Are you also involved in customer service<\/strong> or legal<\/strong>? <\/li>\n<\/ul>\n\n\n\n
Then, quantify how much time you are spending in each of these categories. <\/p>\n\n\n\n
What Can You Hand Off? <\/h2>\n\n\n\n
Now that you know what you\u2019re doing as the head of your business, it\u2019s time to delegate. The first step is to highlight the things you absolutely must<\/em> be the person to do. Also take note of the areas you are best at. Before you can exit your business, you have to hand off everything<\/em>, even these. For now, narrowing your scope to only what you as the CEO must<\/em> do will create more space for you to plan your exit and make it happen. <\/p>\n\n\n\n
Remember opportunity cost \u2013 if you\u2019re doing mundane bookkeeping or administrative tasks, you\u2019ve not only put your most skilled and expensive labor on that task but you have also lost that time you could have used for things only you can do. <\/p>\n\n\n\n
With this in mind, look at the list of items remaining \u2013 the things others can do and are better at. This is where you start taking yourself out of the equation. <\/p>\n\n\n\n
Are You One of Your Biggest Barriers? <\/h2>\n\n\n\n
If the idea of letting someone else handle approvals or quality assurance gives you hives, you may want to start with some of the easier tasks. However, you won\u2019t begin to see an increase in your bandwidth until you empower someone else to approve work. Yes, it will take time, training, and allowing for mistakes to happen. In the long run, it is worth the effort and potential frustration today. <\/p>\n\n\n\n
We recommend getting some additional input at this point. Your team can help you identify some quick wins to free up time immediately and let you begin to experience the benefits of delegating tasks. They can also help you decide who is best to hand various responsibilities to. An external advisor can also provide a neutral perspective devoid of any of the emotion and baggage that can accompany making changes like this. If you\u2019ve had a bad experience in the past trying to delegate, you will have to work through your fear of repeating that. <\/p>\n\n\n\n
In our next article, we\u2019ll talk about the importance of thinking about your life outside of work. Creating a clear vision of what you\u2019re working toward can help keep you focused and motivated to do the hard work of training and handing off responsibilities in your business.<\/p>\n\n\n\n
This is the third article in a series on the importance of exit planning. Read the first two here: <\/em><\/p>\n\n\n\n
- \n
- Introduction to Exit Planning<\/span><\/a><\/em><\/li>\n\n\n\n
- Common Barriers to a Successful Business Exit<\/span><\/a><\/em><\/li>\n<\/ul>\n\n\n\n
*Name changed to protect anonymity <\/em> <\/p>\n","_et_gb_content_width":"960","footnotes":""},"categories":[14],"tags":[12],"class_list":["post-672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exit-planning","tag-exit-planning"],"yoast_head":"\n
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- Common Barriers to a Successful Business Exit<\/span><\/a><\/em><\/li>\n<\/ul>\n\n\n\n
- What is financial<\/strong>? <\/li>\n\n\n\n
- What am I best<\/em> at? <\/li>\n\n\n\n
- What do I want<\/em> to do in my business? <\/li>\n\n\n\n
- \n
- Are you also involved in customer service<\/strong> or legal<\/strong>?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
- \n
- Are you still actively involved in operations<\/strong>? If so, how?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
- \n
- What is sales<\/strong> and business development<\/strong>?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
- \n
- What is financial<\/strong>?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
- <\/ul>\n<\/ul>\n
<\/p>\n
- \n
- \n
- What is administrative<\/strong>?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
- \n
- What do I want my life to look like in a year? Five years?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
- \n
- What do I want my life to look like now? How would I describe my ideal life today?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
- \n
- What would I delegate if I could?\u00a0<\/li>\n<\/ul>\n<\/ul>\n
- \n
- What am I best<\/em> at?\u00a0\u00a0<\/li>\n<\/ul>\n<\/ul>\n
<\/p>\n
- \n
- \n