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The $100 MBA Show
MBA2615 Q&A Wednesday: How Do I Learn To Delegate? I Don’t Trust People To Meet My Expectations
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- [00:00]
Ryan Reynolds
Stripe helps many of the world's most influential companies grow their revenue and build a more profitable business. Whether it's Hertz making checkout a smooth ride for their customers, OpenAI answering unprecedented demand, or PGA chipping away at back office inefficiency, Stripe's financial infrastructure platform helps companies achieve ambitious goals. No matter what success looks like for your business, Stripe helps ensure the complexity of financial systems doesn't get in your way. Learn more@swepe.com Ryan Reynolds here from Mint.
- [00:31]
Mint Mobile
Mobile with a message for everyone Paying Big Wireless Way Too much. Please, for the love of everything good in this world, stop with Mint. You can get premium wireless for just $15 a month. Of course, if you enjoy overpaying, no judgments. But that's weird. Okay, one judgment anyway. Give it a try@mintmobile.com Switch upfront payment.
- [00:52]
Ryan Reynolds
Of $45 for three month plan equivalent to $15 per month required intro rate first three months only, then full price plan options available taxes and fees extra.
- [00:59]
Omar Zenhom
Terms@Mintmobile.Com if you ever thought no one can do it as well as I can, or it's faster if I just do it myself or I can't afford to hire somebody right now, you're not alone. But if you don't learn to delegate and give others ownership, you'll never escape the grind. Today we're going to change your mindset about delegation and give you practical steps. Practical steps that are going to help you start trusting others and give them ownership and start growing your business the right way. Let's dive in. Welcome Back to the $100 MBA Show. I'm your host, Omar Zenholm, where I deliver practical business lessons three times a week, Monday, Wednesday and Friday to help you start, grow and scale your business. Here's the truth. If you're doing everything yourself, you're building a prison, not a business. You think you're protecting your standards, but what you're really doing is creating a system where you are the bottleneck. The problem is is that a lot of us do this without even noticing. You can't scale. You can't take time off. You're always busy, but you're not moving the business forward. This is not entrepreneurship. Entrepreneurs build systems. They leverage other people's time, skills and effort to grow a business. Entrepreneurs know that it isn't a feeling, it's a system. Okay? You're creating an asset leveraging other people's talent and skills to produce wealth for you, to produce a result for you. If you are the system, you don't have a system. If you want to stop trading time for money and build something that can grow beyond you. You need to make a shift. You need to make a shift from self employment to entrepreneurship. Delegation isn't just about handing off tasks. It's about giving others ownership over those responsibilities. When you delegate properly, you free yourself to focus, to focus on high value activities. You create space to work on your business and not in it. And you empower others to take full responsibility for the results. And here's the real kicker. If you're delegating tasks, you're still in the driver's seat. If you're delegating ownership, you're building leaders who can own the outcomes and the full task and everything around it. So your goal isn't to hand off work. Your goal is to create owners who take full responsibility for the work so you're not needed for every decision. And that's how you build a business that runs without you. I mean, let's get honest. Why don't you trust others? You think no one can do it as well as you. You're afraid of mistakes and failure. You've been burnt before, possib. But the truth is, is that you're right. You are right. No one is going to do as well as you. And that mistakes can happen. You got to get over that. You got to get over the fact that somebody's going to do things exactly like you. It's a good thing that people are different, right? Different doesn't mean worse. Mistakes are part of the learning curve as well, by the way. And one bad experience doesn't mean all hires are bad. This is something you have to learn in business. Over time. When you make a decision and the result is not what you want, it doesn't mean the decision is bad. It means the result is bad. That's it means you mean make a few tweaks in your execution of that decision and you'll find a better result. The problem isn't people, it's your system. Because people can follow a system if you give it to them. You need a delegation system that sets people up for success to make sure that hey, my system won't fail me. I know that I created a system that anybody can just implement and do so I want to share with you five practical steps to delegate effectively and give ownership to your people. So get ready to stop being a bottleneck. And now we're going to start delegating the right way and give full ownership. Number one, Identify low value repeatable tasks. Start by making a list. Write down every task you do in a week. You want to highlight tasks that generate $10 to $100. I call these $10 tasks, $100 tasks. Think about how much money does this task actually produce for the business. And this is just an estimate. These are the first things you need to delegate immediately. Okay? If the task doesn't drive revenue or growth in a dramatic way, then it's a candidate for delegation immediately. And don't be afraid to cut things out completely. Like, don't do those things anymore if they're not really beneficial. But here is the key. Don't just hand off the task. Give ownership of the outcome. Let them own the result. Not just so. For example, if you have somebody on our team that's responsible for publishing your weekly newsletter, for sending it out to your email list subscribers, they have to own the result. They have to own the test. They are responsible to make sure that email gets sent at this time every single week properly to every person that's on the list. They got to figure it out using your system to make that result happen. Step two, Create a system. Before you delegate, the system is actually more important than the task. Don't just hand over tasks. Set people up for success. Number one, document the process. Record a screen recording video, use loom. Or you can use like Zeit, or if you don't want to do video, write step by step instructions. But I think the video is quite easy to use because then there's a visual, there's an audio, and you can transcribe the audio. Define what success looks like. Be crystal clear on the desired outcome, what is the desired outcome for this task. And then lastly, create a feedback loop, giving them a way to ask questions and improve that system. By the way, the creation of the system once you shoot the video is their responsibility. It's their system. They're the ones are going to have to use it to get the outcome. A system removes the guesswork and builds trust over time. And then you can look over the system to make sure everything is the way you want it to be. So when they watch the video and document like an SOP in a Google Doc, these are the steps of the task. This is what I have to do to get this outcome. You can review that doc to make sure that it's on point. By doing this, the person on your team that you're delegating to owns the whole process. And when somebody owns a process with a system, they take responsibility for the outcome. Pretty cool. I know we're geeking out on systems and ownership and all that kind of stuff. But this is part of business. Business is a set of systems.
- [07:29]
Ryan Reynolds
Stripe helps many of the world's most influential companies grow their revenue and build a more profitable business. Whether it's Hertz making checkout a smooth ride for their customers, OpenAI answering unprecedented demand, or PGA chipping away at back office inefficiency, Stripe's financial infrastructure platform helps companies achieve ambitious goals. No matter what success looks like for your business, Stripe helps ensure the complexity of financial systems doesn't get in your way. Learn more@swepe.com Ryan Reynolds here from Mint.
- [08:00]
Mint Mobile
Mobile I don't know if you knew this, but anyone can get the same Premium Wireless for $15 a month plan that I've enjoying. It's not just for celebrities. So do like I did and have one of your assistant's assistants switch you to Mint Mobile today. I'm told it's super easy to do@mintmobile.com.
- [08:17]
Ryan Reynolds
Switch upfront payment of $45 for three month plan equivalent to $15 per month required intro rate first three months only, then full price plan options available, taxes and fees extra. See full terms@mintmobile.com.
- [08:32]
Omar Zenhom
Number three start small and build trust with ownership. Okay, you don't have to delegate everything overnight. Start with low stake tasks. That is not going to kill your business if it goes wrong. Give them one task and see how they handle it. Give them one thing that they can create a system and an SOP for and get them to do it. Check the system, check their work and then slowly build up trust as they prove themselves. Every time they own something new, test a task and then if they succeed, give them another task. And then if they succeed, give them full ownership of that area, all the tasks in that area of your business. And ownership again means they make decisions, they fix mistakes, they improve the process over time and when they own it, you're free to focus on growth, not the task anymore. Number 4 Hire for strengths and not just skills. Here's where most people go wrong. They hire based on skills alone, but they forget to consider strengths and mindset. Skills can be taught. Like I could teach somebody how to do anything really. But attitude, work ethic, adaptability. These are where the magic happen. Okay, this is what you really should be hiring for because you can really pass on any skill onto anybody. But you can't teach somebody to have a good attitude, have a good work ethic, to be flexible, to be adaptable, to be a listener. Hire people that love doing what you hate doing, right? They're passionate about something like calendar management. And when you find them, give them full ownership of that area. Let them drive improvements. And the results that you're looking for without micromanagement, they're going to surprise you. Trust me. Number five, probably the most important one, Let go and embrace imperfection. This is the hardest part. You have to let go. You have to allow for mistakes to happen so people can learn. You have to trust the process. Perfection is the enemy of progress. If you want to scale, if you want to give others the space to learn and grow, you need to let them do that. You know how you complained about how things weren't perfect at your old company that you worked for? Yeah. They too learned that perfection is not the goal, progress and profit is. Okay. They are willing for some things not to be perfect. They know that. They know things are not perfect. It's not like we're all just kind of like geniuses. Oh, I can't believe they do it this way. You could definitely do it that way. Yeah, they can do it that way. But again, you gotta pick your battles in business sometimes. Sometimes it's just not worth all the effort to make it a hundred percent. To make it 95% is actually good enough and great enough for you to have a successful business. And by trying to get that last 5%, you're exhausting energy and effort that could be used in something more important. And this all means giving ownership to not just the task again, okay? You got to give ownership to the responsibility. And that means that sometimes the result of that ownership transfer is they're not going to get it perfect. Okay? Especially in the beginning, they're not going to get perfect. Ownership means mistakes will happen. But you can fix mistakes. They can be fixed even without you, okay? They're going to recognize there's a mistake and then they're going to fix it. They're going to learn. Ownership means someone else is invested in the outcome, and therefore they don't want to have mistakes on their plate. They don't want to have mistakes on the record. Right. Ownership means you get your life back. Right. As a. As a business owner. So focus on progress over perfection. Done is better than perfect, in my opinion. Because when you get stuck in that loop of trying to make everything perfect, you don't progress. You don't actually move on. You get stuck. Now, don't get me wrong. We're a company that believes that the details matter, and we work hard on refining the details over time. Okay? We know that our first version is not going to be as good as Our second or third or fifth. And we want to get to that beautiful, detail oriented, gorgeous outcome. But we understand out the gate we need to get started. We need to put things out there, make mistakes, learn through trial and error, learn through the market what they want. We can't just hope it to be perfect from day one or from the start of the whole process of any task. No, we have to admit the fact that it will not be perfect. And that's okay. We are moving forward. Trust isn't about feelings. It's about systems and processes. Here's how to build a system that fosters that trust and creates ownership. You want to set clear, clear expectations, define tasks, outcomes and deadlines. Clarity and communication is key when it comes to delegation. Two regular check ins schedule a weekly meeting or bi weekly reviews or even the beginning daily standups. We used to do this in our company webinar Ninja. We would have our engineering team every day for 10 minutes and make sure that everybody's on the same page. Give feedback early and often, just in time. Learning is our motto in our company. You want to correct small mistakes before they become big problems. And we all understand that. We got to check our egos on the door and we're just giving feedback so we all get better. We're all working towards the same goal. When people know what's expected, they know how they're doing, they know how to win. Trust follows naturally. And when they own their work, they're invested in making it better. Now here comes the exciting part. When you delegate effectively and give ownership, you free yourself from the grind. You have a system now that runs your business with the right talent that you don't need to worry about anymore. Now you can do other things. Whether it's things in your life or things that bring in more money in your business, you get to focus on high level strategy and growth, as you should, right? And you create a business that runs without you. And that's the ultimate goal, isn't it? To stop being self employed and start being a true entrepreneur. Let me just level with you here. You don't build a great business alone. You build it with a team. If you want to scale, you need to trust others. If you want to create freedom, you need to delegate ownership. If you want to create and build wealth, you need leverage. Let go. Build trust and create ownership in your business. And you're going to watch your business grow beyond what you even thought was possible. That's what I found. Once I recognize the way I'm going to compete with my competition is with building a stronger team. That was my differentiator. Everything changed. If you're ready to master delegation, scale your business and scale your mindset, you're going to want to join my three things newsletter. Every week I send you three things. Right? Three things 1 something to think about, 2 something to do and 3 something to learn. It's a way for me to coach you from afar and give you the tools to succeed. Just go to 100 MBA net and sign up for any of our free guides and you'll get added to our newsletter automatically. I'm Omar Zenholm, Delegate, give ownership, don't be greedy and scale your business. And you'll see that this is going to be a pivotal moment in your business where you start shifting things and you start growing, scaling and building an asset that works for you. Thanks so much. I'll check you in the next episode.