Principles of Effective Delegation
Studying and practicing the Principles of Effective Delegation will give us the foundation necessary to exploit the power of leveraging. Each of the seven forms of leveraging will help us expand the reach of our talents and strengths. Each involves building on the work, talents, experiences, and contacts of other people.
The most productive people make sure they have time for the few things that give them the highest payoff by routinely seeking to delegate or outsource their lower value activities.
Applying one simple piece of key knowledge to our situation will make a world of difference in the results we achieve. Finding and applying knowledge from other sources will spare us tremendous amounts of money and labor. Follow the lead of successful people and scan books, magazines, tapes, articles, and conferences for ideas and insights we may use to help us achieve our goals faster.
Knowing when and how to take advantage of other people’s money by borrowing or otherwise tapping into other people’s financial resources empowers us to achieve things that would be beyond our reach if we relied solely on our own resources. Seek out opportunities to borrow and invest, achieving returns in excess of the cost of the borrowed funds. Among the many sources for funds, also consider venture capitalists and private money offerings.
Study the successes that other business leaders and companies have achieved to gain insights into their challenges and solutions. Most successful business leaders have paid their dues in terms of money, energy, commitment, and even failure to arrive at the top of their fields. Learn from their experiences.
As Benjamin Franklin said, “Man can either buy his wisdom or borrow it. By buying it, he pays full price in personal time and treasure. By borrowing it, he capitalizes on the lessons learned from the failures of others.” Listen carefully to the stories of truly successful leaders. Those who genuinely wish to support you will share with you their failures as well as their successes.
A single good idea, developed with passion and commitment, may give birth to a fortune. The greater our exposure to a range of ideas gained through reading, studying, interaction, and experimentation the greater the chance we will come across one that will lead us to enduring success.
Everyone we know has friends, acquaintances, and professional contacts. Many of these people may make a positive impact on your business. Among all the people we know or are connected with in some way, might open doors for us!
“Remember, Success is always Within Reach”
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