Learn to let go, Delegate to expand, owners told
As a business gets bigger, delegation becomes more important and there are plenty of small business owners who hold back growth because they find it hard to let go.
To tackle the problem, IT performance consultants Your Impact teamed up with author Gail Thomas to provide an online platform to help small businesses learn to grow through delegation.
The Chipping Sodbury company has designed the platform to help owners and managers who struggle to release their workload and expand their businesses.
Research carried out by Gail, founder of virtualpa.co.uk and a long-term Prince’s Trust mentor, shows 63 per cent of business owners and managers believe they could grow by 20 per cent if they could delegate just 10 per cent of their work.
The research also suggests the UK’s SME economy could be boosted by £270 billion per year if this 20 per cent growth was achieved across the board.
One in 10 businesses could achieve more than 50 per cent growth but fewer than 15 per cent of business owners say they delegate as much as they could – and 80 per cent admit they need help to do so.
Sue Gilkes, managing director of Your Impact, which specialises in performance training for the IT sector, said: “It’s exciting to be involved in Gail’s project and the platform we have designed for the course has massive potential to benefit a vast range of small business owners.
“We recognised that the whole point of the programme is to save business owners time, so the online course is easy to use, fun and, most importantly, quick to do!
“There is logic and progression and often one assignment builds upon an earlier assignment.
“The idea is to gradually create a shift in mindset, from the business owner believing their time has to be spent on the nuts and bolts of the business to one where they recognize that some tasks are best passed to others, so that they can concentrate on the growth of their company.
“So many people are at the point where they have enough work on and want to take on more without letting the quality of service dip.
“They go one of three ways: stay where they are; crack under the pressure; or they crack the formula of delegation.
“The last of these differentiates one-man-bands from sustainable businesses and can help businesses rapidly increase size at the same time.”
The online platform can be found here and cost £4.95 per month