The only way for an SME owner to exit their business with their pockets full is delegation.
As an SME Owner, Remember the Day You First Started Your Business.
Small businesses
Big dreams
In the beginning, everything in your business is handled by you.
Your strong belief in the service you will provide or the product you will produce strengthens your conviction that your small turnover today will lead to big numbers in the future.
The purpose of your business is to generate free cash, meaning cash available for your use. In order for this to happen, it is essential to set up a structured free cash scaling system starting from the day your business was founded. This system has 4 main pillars:
S – Strategy
I – Execution
N – Cash
E – Team
Our BCC team has developed the SINE Free Cash Scaling model.
Each of these four pillars is important, but there is one element that, if not applied correctly or at all, will cause the model to collapse: delegation.
Delegation is critical in the Execution and Team pillars of the SINE model.
Let's start with the Team aspect.
While this can vary between sectors, in the Turkish ecosystem, you can run your business alone until your annual net turnover reaches 2 million TL at the start-up stage. However, beyond this figure, you will need a team. While building a team can give you a sense of growth and progress, as an SME owner, your toughest job begins when you start building your team. This is because the biggest challenge for SME owners when building a team is letting go.
Letting go of tasks, responsibilities, duties, and roles.
As soon as you form a team, the first thing you need to work on is delegation.
Effective delegation, which will relieve you from your workload and allow your business to operate and generate profits without you, is carried out in two stages:
Stage 1: Immediately delegate tasks that you do not technically know to people who know them better than you. For this, you can use subcontractors or hire directly. The decision to outsource or insource should be made based on the nature of the job and your resources.
Stage 2: Delegate tasks that you know well technically to people who know them even better than you.
When you strategically plan and implement these two stages of delegation, you will likely be able to hand over your work to your team faster than you thought and finally set off on your dream world tour with a full pocket, a relaxed mind, and peace of mind.
Delegation, which will scale your free cash and allow you to exit your business with a full pocket, also has its second channel after the Team section, which is the Execution section of our SINE Scaling Model. You may have created a bulletproof competitive strategy for your business, but the extent to which this strategy is executed will determine whether your business generates the cash you desire. The subcategories of Execution in business are numerous and sometimes complex. To simplify this complexity and resolve tangled tasks, we delegate repetitive, time-consuming, and mechanical tasks to technology. In other words, for tasks we repeatedly do with the same pattern, we set up technological systems and automate these tasks.
By delegating tasks to your team and technology, as an SME owner, you can ensure that at least 50% of your calendar is freed from inefficient tasks. This will allow you to create more time to work on your business’s future strategy and cash generation channels.
If your annual net turnover is between USD 2-10 million, it is time to take strategic steps in delegation.
To clear your calendar and create a precise delegation plan that will help you exit your business with peace of mind and a full pocket, contact us without losing more time, money, or peace of mind.
We are here to help you develop your personalized delegation plan, specially designed for your business, with our expert team in correct and effective delegation.
To your success and well-being in the business world,
Business Coach for CASH
Your Business Coaching Team