The Delegation Dilemma: 8 Keys to Know if It’s Time to Build a Virtual Team

During a recent webinar I taught , one of the attendees, Steven, asked, “I’m just getting started in my business. I’ve got lots of bills, tons of work to do but not a lot of income coming in. Would I benefit from building a team?”

Last week, during an interview by my friend and client Kendall Summerhawk, a woman in her program asked, “How do I know it’s time to add more people to my team without losing profitability?”

For the entrepreneur, cash flow is the make or break point. Interestingly enough, many of us will throw thousands of dollars at programs and products that suggest they will make us money but you will hold back from investing in the ONE KEY STRATEGY that is proven to help you achieve a six to seven figure income.

I’d like to help you identify 8 Keys to Know If It’s Time to Build a Virtual Team.

1. You want to grow fast but have limited time. This is crucial for people who are still employed, mothers of young children and people with multiple businesses. The fact is, you can only grow as fast as you have time to move your projects forward. A team can execute on work while you focus on other things.

2. You have more referrals than you can follow up with. This is a sign that you either: need an assistant to help filter out leads and get them in your funnel or you need to outsource work to others.

3. You are doing things that you hate, screw up or procrastinate. After I booked myself to Ft. Lauderdale when I needed to be in Orlando, I realized booking my own travel had to be delegated to my assistant. These tasks will cost you hundreds, if not thousands, until you delegate them to someone who loves the tasks. Bookkeeping, client invoicing, website updating, paperwork all fit here. P.S. That travel mistake cost me $500 extra dollars. =-(

4. You need and want more freedom to enjoy your life, but you can’t afford to be away from the business. The right team will be able to handle anything while you are gone.

5. You routinely are late, deliver incomplete projects or forget things you promise people. This is a sign that you have too much on your plate. Even delegating email management and phone call follow up can free up 8 – 10 hours a week!

6. You are an opportunity addict and don’t want to give that up. Let’s be honest. Some of you are just really good at new ideas and you don’t want that to stop. You thrive on the creative phase. But someone has to implement your ideas – that’s where a team comes in.

7. You are a speaker, information marketer, coach, consultant, service professional or business owner with more on their to-do list than time in the day. I guarantee you I can find at least 25 items in your to-do list that could easily and profitably be delegated!

8. You truly desire a six to seven figure income. The one thing that every successful person knows is that they could not have done it alone.

Last year I interviewed five 7- figure entrepreneurs who all said, “If I could do one thing differently, I wouldn’t have waited to build a team.”

Ready to build a team but still not sure how to pay for it? Tune in to our next edition and I’ll give you a simple formula to pay for a team. Or join us for the next Virtual Team Building Tele-Bootcamp starting September 12th.