Tuesday, October 23, 2007

5 Ways to Make More Money Utilizing Delegation

Control. Some of us have it and others don’t want to give it up. Unfortunately, many small business owners and entrepreneurs that I work with refuse to delegate tasks in order to make the business run more efficiently. Delegation is a skill that is one of the keys to business success – being able to delegate duties frees up the business owner to work on more important issues. In the start-up phase, the owner often cannot afford to hire others to take on tasks that are taking up their time. They end up doing everything themselves. Most companies, however, reach a point where profitability allows them to hire employees or to delegate work to independent contractors.

What are the key reasons for not wanting to delegate?

• By the time I show someone how to do it, I may as well do it myself
• I’m in a rush. It will take longer to do it if I have to show someone how
• I can’t afford to pay someone to do this so I may as well do it myself
• No one can do it as well as I can
• They won’t do a good job

When was the last time you worked ON your business rather than IN your business? Are you still doing data entry? If there is a way to systematize some of the processes that you are still maintaining, it may be time to delegate.

Here are five ways to start delegating so that you can work on your business rather than everyday minutia.

1. Determine what you do. Make a list of everything you are currently doing daily, weekly, and monthly. Determine what you need to continue doing and delegate the rest.
2. Look at your office administration. These days you may be able to hire the services of a virtual assistant. A VA is an independent contractor who can take on your administrative duties using their own office. You pay them an hourly rate and organize everything via the Internet.
3. Review and correct. When delegating, determine a review process so that you can check the quality of the work. Provide feedback as to how the work was performed. Change what needs to be changed and make the process better, so that eventually you won’t need to do much in the way of checking the work.
4. Investigate resistance. If you’re having trouble delegating, take a good look at why. What excuses are you making to yourself? Are you having trouble giving up control? Remember, successful entrepreneurs do what they do best and delegate the rest.
5. Get smart with your new found time. Use your free time wisely to work on strategic planning, marketing, and promotion. Block time on your calendar for these important tasks.

If you don’t yet have the budget to delegate, make a plan for when and what you will delegate. You are the business owner. It is your job to create a plan for the business to be successful. It’s time to get out of the comfort zone you’ve built for yourself and get out there and market your business.

Suzanne Muusers
Business Coach for Entrepreneurs & Financial Advisors

Sunday, October 14, 2007

Why do entrepreneurs risk it all to become become business owners?

They risk it all for one word: FREEDOM!!! Today I am reminded of why there is nothing better than being a business owner rather than working for "the man". One of my clients was laid off from her day job position without any notice, WHILE she was on vacation. There was no regard for her diligent efforts, long hours, and servitude. Just a hurried voicemail with a request for an exit interview. When you have your own business, you have freedom. You are in charge of your own destiny. You make your own hours and you are accountable to no one but yourself. You don't ever have to worry that you'll be laid off. On the flip side of course, your income is dependent on your own efforts. Is it worth the risk??? YOU BET!

Suzanne Muusers
Business Coach For Entrepreneurs and Financial Advisors

Monday, October 8, 2007

Top 5 Business Mistakes Entrepreneurs Should Avoid

Hello to all! It's Suzanne from Prosperity Coaching here. I have just finished writing a Free Report for visitors to my website entitled "Top 5 Business Mistakes Enrepreneurs Should Avoid". I wrote the report because I see business owners making the same mistakes over and over again. Make sure you are not making any of these critical business mistakes.

What is the benefit to you, you ask? How about the ability to still be in business in one year? How about learning to correct mistakes that will allow you to be in business five years from now?

For those of you who want a run down on what the report contains, here are the Five Mistakes:
1. Failing to Develop a Personal and Business Vision
2. Neglecting to Develop a Business and Marketing Plan
3. Failing to Create a Professional "Brand" for the Business
4. Failing to Select a Target Market
5. Being a Jack of All Trades and a Master of None

You can download the report at: http://www.prosperitycoaching.biz/

Suzanne Muusers
Business Coach for Entrepreneurs and Financial Advisors