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Delegate But Never Give Up Control of Your Business

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A cup of coffee sitting on a paper note saying Take control of the controls

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Delegate But Never Give Up Control of Your Business

Ok, I've now seen the movies portraying the life stories of Elton John, Freddy Mercury, Elvis and Whitney Houston (admittedly sensationalised to a degree, I have no doubt!).

But, sadly, Elvis and Whitney had one thing in common – they both gave someone else control over their business and finances… with disastrous consequences.

They were near bankrupt because they trusted those people to do things right and in their best interest, but sadly, no, that's not what happened.

It was such a devastating scene where both Elvis and Whitney realised that they were financially stuffed and would have to carry on performing, even when they were both exhausted from work and life on the stage… man, I got tears in my eyes.

It just made me realise once again how one can NEVER give up control! Yet, so few people remember this… so this is a timely reminder never to let go of things.

We all want to grow our businesses, thinking we'll get staff and delegate things to them; they'll do things right because surely they know what is expected of them, they know what to do, and you trust them, right?

Here's the thing – there are very few people in the world that will think of your business as if it's their business and do things the way they'd do it if it were their business – that's the perfect employee, isn't it, someone that's as invested as you are.

Still, it would be best to always have your finger on the pulse. Sure, you'll delegate, but you must retain control. It just is what it is.

So how do you do it?

Firstly, by having processes in place so they can do things the way you would do it, and secondly, by having a management plan (and process, yes!) whereby your employee/s report back to you on:

  • progress on tasks
  • problems that have them stuck
  • risks that they may have identified
  • outcomes achieved/tasks completed

Meaning you'll have to set up a system for delegation, a communications directive, a schedule for reporting and of course, you have to make sure that you lead by example, so be consistent and show up on time every time – moving things around, missing meetings, etc. will create the impression that it's not important. You don't want your employees to have that mindset!

For more information or to find out how we can help you set up your business for growth, book a free 30-minute discovery.

About us

Do you need a professional business consultant to help elevate your company's growth and operations? We're here to help! At Chartfords Chartered Accountants, we work with our clients as an outsourced in-house solution to handle their various accounting needs. We're a professional accounting firm that can offer you business advisory and coaching solutions to assist in structuring your business for asset protection, tax benefits, and saving money. For more details, contact us at 1300 163 817 or email us at .

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