Multitasking and Multiple Roles for New Business Owners: Navigating the Early Stages of a Business

As an entrepreneur, you often find yourself wearing multiple hats to ensure your business thrives. The early stages of a startup can be a whirlwind of tasks and responsibilities. From the practical – cleaning toilets – to the crucial – signing important business contracts, being the Jack of all trades is often a reality during the formative years of a new business. However, as your enterprise grows, it is vital to understand when and how to delegate these roles to maintain efficiency and focus on core activities.

The Early Days: From Baby to a Multi-Million-Dollar Business

Imagine this scenario: Just two years into a multi-million-dollar business, one of your employees falls short in a critical task. It’s a common occurrence, but rather than compromising your business, you step in and handle the situation personally. You put on your work clothes, climb into a customer’s attic, and get the job done yourself. This hands-on approach is essential to keep the budget in check and maintain customer satisfaction. However, as your business expands, it is important to determine when it is time to delegate certain tasks to others.

Budget and Expertise: When to Delegate

It’s crucial to recognize which activities are actively bringing in revenue or aligning with your expertise. For instance, if your role is in client acquisition and you find yourself spending valuable time answering calls during important client meetings, consider hiring a receptionist. As your business grows, slowly add more team members to wear some of the hats you currently wear. This shift allows you to focus on more profitable activities, ultimately driving the business forward.

The Art of Delegation

While many new business owners find themselves handling a broad range of tasks, this can be detrimental if the individuals filling multiple roles lack necessary training or experience. It is often evident who the new business owner is because they are the ones who arrive early, stay late, and perform any task required, even cleaning toilets and processing checks.

Delegation is a skill that comes with time and experience. It is necessary, as when starting out, you cannot afford to hire a lot of people to do different things. However, as your business justifies these costs, it becomes more effective to delegate certain roles to trained professionals. This can be particularly challenging, as determining when to start delegating can be tricky.

Common Sense and Business Success

Common sense should not be understated in the world of entrepreneurship. The need to understand every component of your business and be able to perform each task is paramount. Without a rudimentary understanding of every aspect, a business can become risky and inefficient. In my personal experience, transitioning from a large corporation to owning a store, I found myself doing everything from answering phones to operating the garbage disposal. Without prior exposure to these tasks, the results were often less than ideal.

The key takeaway is that while it is common for new business owners to wear multiple hats, it is not always the most effective strategy. Understanding when and how to delegate tasks to the right individuals can significantly improve the success and sustainability of your business. Embrace the multihat approach with caution, and transition to delegation as your business evolves, allowing you to focus on what matters most.