One thing that all successful entrepreneurs learn early on is how and when to delegate. Learning how and when to delegate can help in so many different ways throughout life and business.
The average millionaire has seven sources of income. Seven. Each of those sources may not be separate businesses, but let’s imagine that they have at least three separate businesses. Now, if you own a single business, you probably understand that it can be a full time (or more) job. Owning and running a business requires a huge time investment. Multiply that time investment by three and you start to have a dilemma. How do these people with multiple businesses and multiple sources of income find the time to manage all of this?
The short answer is that they don’t; they delegate. We can all understand that there is a limited amount of time given to us each day. That means that you should be focusing on the tasks that are the absolute best use of your time. Anything that is time consuming that isn’t an integral part of who you are, can be delegated.
A great business person knows that, through delegation, they can kill two birds with one stone. The first bird being the lack of time and the second bird being a lack of expertise. We all have weaknesses and everybody has to understand that they can not be an expert at absolutely everything. A smart delegator will employ others to fill in their entrepreneurial gaps and weaknesses.
By utilizing the right talent, you don’t have to become a master at every trade. Instead, you can focus on what you do best.
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