Regardless how large or small the project, the Lone Wolf covers 100% of it. Either because they are afraid to let go of control or because they experience budget restraints. Can you relate? I know I can!
So what's so bad with doing everything yourself? Everything. It is impossible to grow your business if you are too busy managing every single aspect of the business. True entrepreneurs realize this obstacle early on and find solutions to this dilemma. Before we get into how they do that, take the 10-question quiz to determine if YOU are a Lone Wolf.
1. Do you only work by yourself with no employees?
2. Do you experience the reality that no one else can do the work better than you?
3. Do you experience there not enough hours to get everything done?
4. Did you create and maintain your own website?
5. Do you do your own accounting and billing?
6. Did you write your own sales and marketing copy?
7. Do you get your own mail?
8. Do you buy your own supplies, such as computer paper, pens, and other daily office staples?
9. Do you create or even deliver all your products and services by yourself?
10. Do you process and ship all your sales yourself?
I think as you take this quiz, you can see patterns developing. If you answered "Yes" to most or all of these questions, guess what, YOU ARE A LONE WOLF!
When you are starting out, you have to wear many hats because you cannot afford to hire help. However at what point do you make a decision to start delegating and outsourcing other tasks to someone else? ANSWER: When the time you are spending on administrative tasks prevents you from spending time growing your business.
As an entrepreneur, you should direct a bulk of your time marketing. Sales are the life of the business. A Lone Wolf will become a dead wolf if you don't start making serious adjustments. So what is an entrepreneur to do?
Here are 6 tips:
1. Create a list of all the tasks that do not need your specific expertise or talent (i.e., sorting mail, buying office supplies, and filing).
2. Create a 2nd list of the tasks that eat up a lot of your time but are OUTSIDE your specific area of expertise (i.e., maintaining your web site or accounting).
3. Decide how many hours per week you will spend doing these tasks.
4. Measure how much extra time you will have for additional sales and marketing, or other business-building activities if you didn't have to do these other tasks.
5. Calculate how many additional clients or sales you could generate with this extra time spent on marketing and building your business.
6. Hire an assistant, bookkeeper, web site manager or any other specialists appropriate to handle tasks. Figure out how much you can afford based on your results from tip number 5.
You're probably questioning how you'll be able to pay it all. In the long run, more income will be created as a result of more time selling and find other revenue streams. Though you should be warned, only follow these tips if you want to be a BIG entrepreneur. If you prefer to stay small forget about everything I said. So take a moment to get a clear vision of what kind of business you want to create. Say goodbye to the long wolf.