Without a team, you have a job. Ask yourself – what happens when I’m not there? And if the answer is nothing, then that is a job. If you want to rather build a business, then you need to invest in and build a team. It’ll change your job into an asset. And that is a business that can be sold, monetizing your years of effort, risk, and care.
To build a team, you must learn to delegate. To get it right, many of us must slay several demons that reside in us.
Pavlo takes a look at a few of them in this podcast from The Money Show, and see which ones reside in you.
I don’t want to delegate because I get meaning from working hard and being very busy. I love it when people say how hard I work, because it makes me feel like I’m making things happen, big time.
Nobody can do things as fast as I can. It takes more time to teach someone something than just get it done. And I’m good at it too!
I don’t want to see anyone succeed beyond me or perform better than me. I’m going to set them up to fail – consciously or unconsciously. I’ll set targets too high or delegate something and then take it back repeatedly. I might even exclude some of the insights or activities that you’d need to succeed in the task I’ve delegated to you.
Well, nobody can do it as well as I can. Nobody is good enough. I’ve always said it: if you want something done properly, do it yourself!
My people are useless. and helpless. They show no initiative and don’t care about anything other than their paycheck, lunch, and public holidays.
Nowadays, you can’t trust anyone.
If I delegate that, what will I do? Where will my value come from if I don’t perform the tasks that I do if they are delegated to someone else?
Only I can do these tasks. I invested in the product. The service was my brainchild. You need special skills and insights, and this belief makes it impossible to delegate.
I delegate lots of things and expect people to get them done. I’m not sure how, what, why, and all that. They should just use their initiative and figure it out. Why can’t people just apply themselves and figure it out?
I delegate things, but I find you really must watch everything that people do when fulfilling the tasks. It’s the little things that make the big differences, and you constantly must be on your people to make sure they do them right.
Several other demons reside in us as business owners when it comes to building a team and working with our people and colleagues. Should you be growth-minded, each of the demons will show up, and your job is to ensure you slay them, one by one, to constantly build and lead your team better. It’s the answer to growth, innovation, and building your business into an Asset of Value™.