The Power of Time

I believe that TIME is the single best measure of wealth and impact.  It is our most precious resource. Find a way to get more of it, and you can change the world.  

I recently had a fascinating conversation with a CEO who is about to change the way the world defines time, and it inspired me to think differently (more on that another time).  Moreover, I was reminded again that one of the reasons I value it so much is because it is non-discriminating.  No matter who we are, we each get the same 24 hours each day to use as we choose.  

Many of the CEOs I work with desire more time.  They need more time in the day, they cant keep pace with the competition and shareholders are demanding faster results.  One of the first areas I get curious about when I hear this is to understand how well they delegate.

Delegation can be challenging for entrepreneurs and seasoned executives alike.  Letting go of the reins on a project, you feel passionate about only to watch it get off track can be gut-wrenching.

The art of delegating is an essential skill as a leader for any sized company, and yet many lack the foundational mindset required to be good at it.  So why is it so difficult?  Amy Gallo at the Harvard Business Review asked this question in an excellent 2012 blog post.

I'd like to offer another take on it. What if we looked into the heart and mind of someone who's at best a "c" grade delegator?  What would we hear?  Your inner voice might sound something like this:

1- I need help.  I'm maxed out.

2- If it is going to get done right and on time, I am going to have to do it.

3- I don’t have anyone who can do this job for me. It is just too big or complicated for others.

4- I got this.  I'll figure it out.

5- I haven't had a day off in months. Except well I cheated and went to a movie the other day.

6- I just need a little help.

7- When I take vacations something always blows up-it's not worth it.

8- The person to do this didn’t hit a home run last time.  The clean up was brutal.

9- I am the only person committed to the vision around here.

10- I need help.

Does this sound like you? Ever had some or all of those thoughts?  Did you notice the most common one?  “I need help.”

If this speaks to you, I want you to imagine how much more impact you could have if instead, you flooded your mind with  “How can we grow profits?” or “How can I best develop the people under me?” or "Where will we be in 5 years?"  

Many leaders are far more inward-focused than I would like to see—“I need help.” The longer they wait to take action the higher their anxiety levels rise. They convince themselves not to turn the project over to someone else.  It becomes a vicious cycle that steals precious time and prevents them from making a more significant impact.  

Had enough?  Let's finally put this challenge in the rearview mirror, for good.

Let’s Begin

If someone can do a job 70% as well as you can, let them do it.  Why? Because delegation helps in three fundamental ways:

Delegation helps you: You are freed up to spend your time on the things that only you can do. The things that you shouldn’t delegate. (Inc. lists five categories that CEOs shouldn’t delegate)

Delegation helps the person under you: Take away a high performer’s opportunity to grow and develop, and you might as well send that high-potential right into the competition’s house. They, too, deserve the chance to discover their strengths.

Delegation helps the company: You’re increasing the competency of everyone in the organization. Because of this increased skill, you have more innovation and are more prepared to handle staff turnover or drive a growth surge.

Be prepared and chill out a little. They likely won’t do it as well as you will. However, it will probably turn out fine.   Try to shift your thinking to something like this:

1- I need help.

2- But they could do it pretty well.

3- And I could give feedback so they would do it better the next time…

4- They might have some fresh ideas after all.

5- What if I didn’t have to think about this anymore? That sounds amazeballs.

6- Isn’t this why I hired them in the first place?

It's your job as the leader to define "the win" for the team, show them the goal posts and then walk up to the owner's box and have a seat. Watch the game with a sense of curiosity.  They will surprise you with ingenuity.

Still resisting the need to let go?  Let me guess; you're thinking Jenelle "It'll never work here, you don’t know the people I work with."

I’ve got two-step solution for you:

1. Change your staff.

2. Start delegating to them.

Sometimes I chose to be direct when your mind is resisting change so that your heart can hear what you need most.  Developing the essential skill of delegation will give you more time to have the exponential impact you desire as a leader.  Your business and teams will thrive, and you will feel wealthier than you thought possible.