Delegating is a powerful thing. When you leave tasks to others, it frees you up to accomplish more. Recently I learned of the $1,000, $100 and $10 tasks concept. The $1,000 tasks are those that only the entrepreneur can perform, and at the same time bring in the most revenue. The $100 and $10 tasks are ideal for delegating out. They are the tasks that don’t yield the per hour revenue generated if we do it ourselves. I recently talked about this on my facebook page
- A $1,000 task for me is creating my digital courses. I have to create the idea, outline, write the curriculum and decide how it all fits in the strategic plan. I am the only one that can create that level for my business and it brings in the most revenue.
- A $100 task would be planning my content social strategy for the month. It is something that fits in my strategic plan, but if I create the outline, someone else could perform that for me. It doesn’t yield the per hour dollars for my personal time.
- A $10 task is something like proofreading, billing or simple social media posting. I really go into the hole in regard to my time if I perform those tasks.
When an entrepreneur is first starting out we may have to do all the things, but as revenue begins to trickle in, it is important to begin to identify the tasks in each category.
Reasons that people don’t delegate:
- No one can do it better than you
- You can’t afford it
I would argue that done, is better than perfect. Frankly, we need to get over ourselves and realize that not only can others do what we can, but they may do it better. Also, having a fresh set of eyes on the $100 and $10 dollar tasks can be a good thing. As far as cost is concerned, even though we may pay a small fee, often times we can yield greater results. Having someone write thank you emails or make follow up phone calls can generate business that otherwise would be left on the table.
I urge you to make a list of the all the things and figure out which ones you can delegate, then take the plunge. You’ll thank me later.
