Part 6/6 of the Finacial Persona Series
If you were a TV character, you’d probably be Michael Scott from “The Office”—a manager who knows the value of a good team (even if he doesn’t always show it). But in the entrepreneurial realm, you’re more like Sara Blakely, the founder of Spanx. You’re a pro at hiring the right talent and letting them do what they do best, freeing you to focus on your core competencies. Your superpower is your ability to delegate effectively, which allows you to be hyperfocused on what you’re good at. You’re open to outside opinions, which can bring fresh perspectives and innovative solutions to your business. In essence, you’re the conductor of your own entrepreneurial orchestra, and you know how to make beautiful music.
Now, let’s talk about the elephant—or should I say ostrich?—in the room. While delegation is your forte, it can also be your downfall if you stick your head in the sand when it comes to finances. Avoiding financial responsibilities can lead to long-term instability, potential debt, and even financial mismanagement. The challenge here is to lift your head, face your finances, and take control of your financial destiny. Because let’s be real, you can’t delegate everything.
So, how can you continue to be a master delegator while also keeping your finances in check? First, consider taking a more hands-on approach to your business’s finances. Make it a habit to review financial statements and engage in budget planning sessions with your financial team. If numbers aren’t your strong suit, consider taking financial literacy courses or workshops to build your confidence.
Next, think about hiring a Finance Manager or even a CFO to take the reins of your financial department. This person can manage your finances, allowing you to focus on what you do best while still keeping you in the loop on critical financial decisions.
By taking these steps, you’ll be better equipped to steer your business toward financial stability while still benefiting from your strengths in delegation and focus. So go ahead, be the Sara Blakely of your industry, but with a financial savvy that ensures your empire is built on a solid foundation.
Ready to delegate your way to success? With a few strategic adjustments, you can continue to excel at what you do best while also ensuring your financial health is rock solid. After all, as Sara Blakely herself said, “Don’t be intimidated by what you don’t know. That can be your greatest strength.”
September 21, 2023