A business is worth what a buyer is prepared to pay you for it. If the business is solely dependent upon you to run it, there is little value there for a buyer. After all, they do not want to buy you. Being able to delegate well means your company can thrive without you personally overseeing the details and executing activities that drive revenue.
Being able to delegate provides freedom for you as owner, which allows your company to grow without you as the bottleneck and will lead to increased quality in your work life as you no longer have to spend your time fighting fires, answering mundane questions, and attending to day-to-day operating issues.
Delegation can be difficult for owners because they perceive this loss of control as a potential threat to their authority. If you select good people whose values align with yours, mentor them and grow them, they will become a big part of the asset that is your business. Businesses are built on people – period. Buyer’s will pay you more for a company that has an empowered, inspired and engaged team that for one that is driven solely by you as its owner.
To learn more about how to create a less owner-dependent business download a copy of our eBook “The 4 Degrees of Delegation”: https://score.valuebuildersystem.com/landing/the-4-degrees-of-delegation-ebook-landing-page/bc22dfe3-1a57-4492-98a1-de4b74660c20
