I never thought of myself as a control freak -- until this week.
I am in charge of the end-of-the-year graduation activities at my child's school and I want to do everything myself because I know it will get done right. BUT, I just don't have the time to do it all --unless I give up sleep, entirely.
So, I need to delegate and trust. I'm not good at that, are you?
Last Friday, when I attended the Women's Success Summit, Nell Merlino, founder of Make Mine A Million Dollar Business and Count Me In, spoke about taming your inner control freak. She didn't exactly use those terms. But I read between the lines and realized what she was saying. Nell has been behind a giant, nationwide effort to help women business owners reach $1 million in revenue. This is no easy task since she says that most women business owners earn less than $50,000.
From what she's seen, Nell says you can ONLY grow your business to as much as $250,000 in revenue by doing everything yourself. If you want to get bigger, you MUST hire help.
Nell believes that almost every business owner should let go of their inner control freak and hire people who can do the things he or she isn't good at.
"Sleeping less and drinking more coffee is not a business growth strategy," she said. Wow, how true is that!!
Most of us think to manage it all, we have to keep it all on the table. "Change that thinking," she says. "Make it a bigger table." Controlling our inner control freak applies whether you are an owner or employee --there's always something you can hand off to someone who can do it better.
Nells points out that when you hire people, you can make different decisions, mostly because you've expanded your ability to get things done. "The best way to grow is by building a team who are good at what you are not. That’s how you create an extraordinary enterprise," she says.
She advises convincing yourself you can delegate, you can be a boss. "People don’t talk enough about how much fun it is to be the boss," Nell says.
Now, going forward, she suggests these steps:
1. Set a financial goal. Once you pick a number, you will need to work backwards. Understand what you charge and your profit margin. Figure out how you can actually reach that goal. "Once you put it on paper, you can see exactly what you need to do. It’s eye opening."
2.Think about how you can start to work with others and colloborate to make your product or services available to more people.
3. Figure out what areas you're not handling as well as you should. Hire or barter with someone to take over those tasks.
If you do these things, Nell says you expand your vision for what you can accomplish.
Think about it, are you limiting yourself by being a control freak?
Nell Merlino signing books at the Women's Sucess Summit in Miami