Here's EXACTLY how to delegate every business task

Summary

The video script reveals the secret to scaling a business from six to eight figures: effective delegation. It emphasizes the importance of trust in others to perform critical tasks, distinguishing between transactional and transformational leadership. The script outlines a five-step plan, including building a task list, stopping unnecessary tasks, automating low-impact tasks, delegating documentable tasks, and defining and delegating critical tasks using the 10-80-10 rule. This approach aims to free up the entrepreneur to focus on strategic growth, ultimately leading to business and personal success.

Takeaways

• 😌 Trusting others to do your best work is key to scaling a business to seven or eight figures.
• 🧐 Entrepreneurs need to learn to delegate to focus on the big picture while others handle the details.
• 🚦 Richard Branson advises that overcoming market challenges requires delegation, not just personality.
• 🔄 The difference between transactional and transformational leadership is crucial for business growth.
• 📋 The Critical Task Matrix is a model to simplify the delegation process.
• 📝 Start by building a master list of all daily tasks to understand what needs to be done.
• 🛑 Recognize and stop tasks that don't contribute to the business's success.
• 🔄 Automate or outsource tasks that are low impact and low complexity.
• 📑 Document, train, and trust (DTT) are the steps to offload simple but time-consuming tasks.
• 🔑 Identify critical tasks that only you can do and are essential to the business's success.
• 🔢 The 1080 rule: Spend the first 10% teaching your team, let them execute 80%, and use the last 10% for evaluation and feedback.
• 💡 Delegation is intrinsically linked to leadership and is essential for achieving millionaire status.

Q & A

What is the key secret to transforming a six-figure business into a seven or eight-figure business according to the video?

The key secret is trusting someone else to do your best work, which allows you to focus on the big picture and delegate tasks effectively.

What advice does Richard Branson offer on overcoming market challenges as an entrepreneur?

Richard Branson advises that while entrepreneurs are driven, they cannot overcome market challenges through sheer force of personality alone; they need to learn to delegate.

What is the difference between a transactional leader and a transformational leader as described in the video?

A transactional leader rewards or punishes employees based on their adherence to explicit orders, whereas a transformational leader works with teams using clear objectives and delegation to create a successful and growing business.

Can you explain the 'Critical Task Matrix' model mentioned in the video?

The 'Critical Task Matrix' is a model developed by the Scalable Company to simplify the delegation process, helping to identify and categorize tasks effectively.

What is the first step in the five-step plan for making a business scalable as outlined in the video?

The first step is to build a master list of all tasks performed in a given day, ensuring nothing is left out and reviewing past weeks to identify any tasks not initially included.

Why is it important to determine what tasks to stop doing in the process of scaling a business?

It is important to determine what tasks to stop doing to eliminate activities that do not contribute to the business's goals, freeing up time and resources to focus on more impactful tasks.

What does the acronym 'DTT' stand for in the context of the video?

In the context of the video, 'DTT' stands for Document, Train, Trust, which is a process for delegating tasks that are important but time-consuming and can be offloaded to others.

What is the significance of the '1080 rule' mentioned in the video for delegating critical tasks?

The '1080 rule' signifies that for the first 10% of the delegation process, the leader should show the team how to execute the task, for the next 80% the team executes the task, and for the final 10%, the leader evaluates the work and offers feedback.

How can the 'test stop' method be used to determine if a task should be stopped completely?

The 'test stop' method involves temporarily stopping a task to see if anyone notices or if there is any negative impact on the business. If there is no impact, the task can likely be stopped completely.

What is the role of automation in the delegation process as discussed in the video?

Automation plays a significant role in the delegation process by taking over low impact, low complexity tasks that can be easily performed by an outsourced service or software, reducing the workload on the business owner.

What advice does the video give on how to handle tasks that are not executed perfectly by the team during the delegation process?

If a task is not executed perfectly, the video advises to praise the team for a job well done, update the systems and instructions based on what was missed, and then try the delegation process again.