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Paying Money To Make Money
Posted By The Original Bulldog - Bob Griffin On 11. April 2009 @ 21:12 In Training, Making Money | 1 Comment
There are a million things that a small business owner must tackle each and every day to keep things going. How many of those items can you pass along to an employee to handle?
It sounds like a simple question that requires a simple answer, but many times we look at the job an employee does as either too vital to take them away from to teach a new job or not qualified to handle the job you want to delegate.
Many times we group tasks by job title and never look at the skills of the employees in other jobs. If you could spend one hour a day to teach an employee a part of your business that now takes you away from earning more money would you do it?
Think of it this way, if you can’t do the payroll and write the checks to pay your employees who is going to handle it in your absence? Your employees won’t work for you very long if they don’t get paid. Having one or two more people who can handle the jobs that keep your business going makes a big difference.
Now, I want to convince the rest of you who are Type-A personalities (the “only I can do the job right” kind of people). How much is each job worth at your business. Payroll, scheduling, local store marketing, and more have a cost to them. What would you pay someone to do those jobs if you couldn’t do them?
How much is your time worth? Is it worth the time you spend on those jobs that do not bring you any money? Those jobs that are in the cost category on your P&L statement. Are you worth more finding new sources of income or are you saving more by doing them yourself?
The answer is clear that you are worth more, as the owner, going out and getting more customers and building your business and paying someone else to do the small jobs. It is easy when you are starting out to think that you are dropping more dollars to the bottom line by doing everything yourself. The truth is that you are the best face of your company and need to be the force in driving it’s growth.
Train your crew, give them time to get the job right, and then when you are comfortable letting them do the job get back to building your business. Your time is more valuable as the leader than hiding in the back office crunching numbers or out front sweeping floors.
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