Entrepreneur

The ability to get work done with case study of Richard Branson

Work Delegation
Andrew Carnegie often said, A person who looks to do all work by himself and wants to take all credit by himself never succeeds in the game of business. Andrew Carnegie credits his success to skill of effective work delegation & & hiring right people for the right job.
Hence work delegation & hiring right people for the right job plays a huge role in the success of your business.

Work Delegation
In simple words, Delegation is the assignment of authority to another person to carry out specific activities.

Benefits of Work delegation:

1. You get time to make strategy for business growth.

2. When you delegate unimportant tasks, it saves your energy & time.

3. You feel relaxed and your stress levels go down & your relationships get better atb the workplace.

4. When you delegate a task. You are making your employee ready to learn that important skill.

5. Your assessment skill becomes powerful as you check if the employee has done that specific task properly or not.

6. Your work ability and decision making power also increases

What you should delegate?

1. Small and unimportant tasks
2. Tedious tasks
3. Time consuming tasks
4. Learning tasks in which employee can get benefit
5. Tasks that you are not expert of
6. Tasks that can help your employees get motivated and enjoy the work

What you should not delegate?

1. Important tasks & responsibilities
2. Fund & investment related matters
3. Companies vision
4. Crisis Management
5. Team Building
6. Performance
7. Hiring & Firing

Effective Work Delegation Strategy:

1. Know What to Delegate
Not every task can be delegated. For example, performance reviews or any personnel matters should be handled by you.

2. Play to Your Employees’ Strengths and Goals
Delegate those who possess specific skill set needed to achieve the desired result. Leverage that and play to your employees’ strengths.

3. Define the Desired Outcome
Give clarity to the employee of what the desired outcome should be.

4. Establish a Clear Communication Channel
While you want to avoid micromanaging, you do want to establish a communication channel so that the person you’re delegating to feels comfortable asking questions and providing progress updates.

5. Give Credit Where It’s Due
After you’ve delegated tasks and they’ve been seen through to completion, credit those who achieved the work.

Case Study: Richard Branson

UK’s on of the richest person, Richard Branson, founder of Virgin group dictates his business success to art of delegation. He provides 5 steps
1. Know your strengths and weaknesses
2. Know your team’s strengths and weaknesses
3. Recruit team members to balance out your weaknesses.
4. Develop a collaborative safe culture
5. Stay connected with your Team

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