#60 Delegation, Trust & Focus
You know what founders struggle with bro? Delegation. Letting go. Can one person do it all? Absolutely not. If you delegated more, you would make more money, be happier, and people would probably like you more. Whoa, that sounds obvious, so why don’t people delegate… let’s dig in.
00:00 Intro to Delegation, Trust & Focus
01:00 Intro to Podcast
01:27 Problem with Delegation
03:00 What Happens when we don't Delegate
06:50 What happens when you are not Delegating
09:40 Why are not delegating
15:45 The science of delegation
20:25 Delegate more, make more money
24:10 Delegate more, be happier
26:48 Steps to delegate
PROBLEM: Whether you are a 7 figure founder or a solopreneur, delegation is a critical SKILL required to grow your company. The problem is, people really struggle to delegate, especially when stakes are high and you have aggressive goals.
WHAT HAPPENS WHEN YOU DON’T DELEGATE?
Burnout, Micromanaging, Lack of trust, Inefficiency, Limited growth, Missed opportunities. BIG ONE: Low performers are codependent on you and high performers are annoyed by you!
WHEN YOU DON’T DELEGATE, YOU DON’T HAVE TIME TO THINK.
- Harvard Business Review
- CEOs spend average of 62% of their time on strategic thinking and planning, which includes analyzing market trends, identifying opportunities for growth, and developing long-term goals.
- TCEOs read an average of 60 books per year and attend an average of 4 conferences or industry events per year.
WHY WE DON’T DELEGATE
- Some are perfectionists who feel it’s easier to do everything themselves, or that their work is better than others’. In the article, this is called “self-enhancement bias.”
- Some believe that passing on work will detract from their own importance,
- Others lack self-confidence and don’t want to be upstaged by their subordinates.
- Fear of confrontation
WHAT HAPPENS IN THE BRAIN WHEN WE DELEGATE
- The Neuroscience of Delegation & The Science of Delegation:
- Delegation has been found to activate the release of the hormone oxytocin in the brain, which is associated with trust, social bonding and positive emotions.
- This release of oxytocin in the brain is thought to contribute to the positive effects of delegation on relationships, motivation, and well-being.
- Delegation also activates the prefrontal cortex, a brain area that is involved in decision making, problem solving, and planning.
SOLUTION / BENEFITS
DELEGATE MORE, GROW FASTER
- According to some Gallup Reporting:
- Fortune 500 CEOs, Those with high Delegator talent posted an average three-year growth rate of 1,751% -- 112 percentage points greater than those CEOs with limited or low Delegator talent.
- CEOs with high Delegator talent also generated 33% greater revenue
DELEGATE MORE, BE HAPPIER
- The International Journal of Human Resource Management found that managers who delegate effectively have higher levels of job satisfaction and well-being.
- Effective delegation leads to better work-life balance and improved relationships, which can contribute to overall well-being and happiness.
- Prioritize your task into the grid (I love, I am good - I hate, I am bad)
- Start with the easy task and use automation when you can (calendly)
- Set clear outcomes when delegating and don’t delegate and ditch
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#focus #founders #delegation #trust