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Business Owners’ Biggest Mistakes: Failing to See the Value in Delegation

May 15, 2018

Every business owner wants to see all of their hard work and financial investment result in a company that is well-run, profitable, and successful in every sense of the word, but unfortunately, that does not always happen. There are a number of mistakes business owners can make to put a damper on their best-laid plans, but here at The Alexander Group we find that one of the most common is that employers too often fail to see the value in delegating duties to their employees.


It Starts with a Skill


Many American businesses get their start with just a single person or small group of people that possess a specific skill for which they consider themselves experts. Maybe they are very good at putting new roofs on houses or baking cupcakes or designing and printing banners and billboards. Whatever the case may be, many businesses start by having the talented individual doing literally everything as they work to get their project off the ground. The good ones grow, naturally, but with growth comes increased responsibility.


Eventually, Business Owners Can’t Do Everything


Put simply, many businesses do eventually expand to the point where the original owner flat-out can’t do everything anymore. What starts as an individual doing what they love and getting paid for it turns into something much bigger, with scheduling duties and financial responsibilities and technological upgrades all worming themselves into the business owner’s daily life. At a certain point, while growth absolutely is a good thing for business, the owner just can’t keep up with it all. That’s when the smart ones hire people they can trust to help with these types of duties.


Employees Want to Know They Are Trusted


There very often is a sense among business owners that, “Nobody can do this as well as I can,” which is understandable considering how much of their own time and money they have dumped into the business. However, employees that don’t feel as though their boss trusts them tend to do the bare minimum, to say nothing of how it may affect their morale in the workplace. Employees lose trust in the owner’s ability to lead and manage when they aren’t allowed to do the types of things they were hired to do. What type of boss wants that for their employees?


Good Business Owners Delegate to Trustworthy, Talented Employees


When business owners delegate what they are not good at doing to skilled, competent people, they are going to have a much stronger organization. Nobody is great at everything, and no business owner can be an island. Surrounding yourself with people you know can do a great job is the only way to survive, and entirely too many businesses have failed simply because they could not delegate duties to employees.


It’s understandable that as a business owner you want to oversee every minute detail of your business’ daily operations, but it’s simply not possible. Not only that, but it can create a hostile environment for your employees, and what business ever has been successful employing people that weren’t happy at their job? Make them happier and more productive, and make your business run more smoothly by delegating the duties that honestly require delegation.

What Small Business Owners Need to Know About Email Authentication Requirements

08 Mar, 2024
Have you been having trouble sending out bulk emails and email blasts recently? Are you suddenly having deliverability issues with clients and vendors you've been emailing for years? If so, you're not alone — Google and Yahoo rolled out new DMARC requirements in February, creating headaches. We have heard that many of our small business owner clients and their IT departments are having such headaches.  To investigate this issue, we have leaned on IT expert and long-time TAG peer board member Fred Moore of Moore Computing. Fred has walked us through changes to DMARC and offers advice on how small business owners can get their emails back into the inbox. While DMARC changes have thrown many into a temporary tailspin, the changes represent a move to safer and more secure email communication for all parties. Let's discuss what small business owners need to know about DMARC, how they can ensure their emails reach customers' inboxes, and how to keep their business digitally secure. What is DMARC? Cybersecurity measures are similar to cars: most of us drive one daily, but most are unable to lift the hood and understand exactly how it runs. Most of us rely on cybersecurity measures to keep our businesses safe online, but we may need help understanding the technical elements that keep us safe. That said, all small business owners should have a general background in cybersecurity, and DMARC is a great place to start. DMARC stands for "Domain-based Message Authentication, Reporting & Conformance." The idea behind DMARC is to limit the volume of scams and phishing on the internet. DMARC works with SPF and DKIM. SPF (Sender Policy Framework) is a list of services and servers that are authorized to send emails on behalf of your domain, and DKIM (DomainKeys Identified Mail) is a digital seal that verifies the content of your email hasn't been altered or tampered with. DKIM is also able to withstand email forwarding, whereas SPF can not. Senders and Recipients At its core, DMARC validates the authentication of the sender of an email message. When there are deliverability issues with a message, it usually falls back on the sender. Small business owners know the importance of getting marketing campaign emails and other communications into their customers/clients' inboxes; to accomplish this, it is crucial to follow all protocols to ensure you have the best chances to reach customers' inboxes at an optimal place (i.e., not the spam folder), and avoid spam complaints. How does your email make its way to recipients? It follows a basic flow: ● The email is composed and sent ● The sending mail server will add DKIM ● The email is sent to the recipient's server ● Validation tests begin, checking DKIM, SPF, and DMARC policies ● The email either passes, is quarantined, or is blocked/deleted ● If the email passes, it goes through the recipient's user filters and inbox rules

The Costly Mistakes of DIY: Why Small Business Owners Should Invest in Professionals

11 Jan, 2024
Running a small business is a challenging task. It requires dedication, hard work, and juggling multiple responsibilities. Often, small business owners try to cut costs by taking on tasks themselves, even if they are better off calling a professional. While the intention may be to save money, the reality is that DIY can lead to costly mistakes and legal pitfalls. Let's explore the common mistakes small business owners make when they opt for a do-it-yourself approach and why investing in professionals like lawyers, accountants, and general contractors is crucial for long-term success. The Myth of Saving Money Many small business owners believe that handling tasks themselves will save them money in the long run. However, this is often a misconception. While it may seem cost-effective initially, the lack of expertise and knowledge in critical areas can lead to costly mistakes that can ultimately hinder the growth and profitability of a business. The Value of Professional Services Professional services, such as lawyers, accountants, advisors, and general contractors, bring expertise, experience, and a deep understanding of industry regulations. They can provide valuable guidance, prevent legal issues, and help small business owners make informed decisions that align with their long-term goals. Most of the time, business owners don't consult with their advisors because they are wary of spending money on bills from their advisors on top of other expenses. The phrase "You can pay me now, or really pay me later" comes into play in these situations. Business owners should not be afraid to discuss money and bills from professionals with their advisors, and they should properly compensate advisors for their time. Complaining about spending a few thousand dollars to review a $20,000,000 contract can cost hundreds of thousands due to difficult payment and dispute resolution terms.  Protecting Your Intellectual Property Intellectual property (IP) is a valuable asset for any business. Failing to protect it can lead to brand confusion, loss of revenue, and legal battles. Trademarks, copyrights, and patents should be filed appropriately and protected to ensure exclusive rights to your brand name, logo, or product design. How Professionals Can Help Lawyers specializing in intellectual property can guide small business owners through filing the necessary documents and paying the required fees. They can conduct an IP audit to identify and protect essential assets, develop IP protection strategies, and enforce IP rights if violations occur.

What Business Owners Can Learn From Al Pacino’s Locker Room Speech in “Any Given Sunday”

09 Oct, 2023
In the 1999 film “Any Given Sunday,” directed by Oliver Stone, Al Pacino delivers a powerful and memorable locker room speech that has resonated with me for years. The speech, delivered by Pacino’s character, Tony D’Amato, before a crucial football game, encapsulates the essence of the film and the themes it explores. While the speech is specifically about football, its underlying message can be applied to various aspects of life, including business. The idea of fighting for inches, continuously improving, and eliminating mistakes is a powerful metaphor for the importance of perseverance and adaptability in business. It highlights the value of small victories, incremental progress, and the relentless pursuit of excellence. For business owners, the speech serves as a reminder to focus on the details and the small wins that can accumulate over time. Just as a football team must fight for every inch on the field, a successful business must be diligent in managing its resources and seize every opportunity for growth. It emphasizes the importance of building a team that shares the same values and is committed to continuous improvement. Think of it in terms of all the inches and seconds around us in business and how $200 here and $50 there adds up. The whole concept of continuous improvement, eliminating mistakes, and fighting to get better is what I believe Oliver Stone intended when he wrote it. I love it as much today and as when I first saw it and the metaphor of getting into business and being profitable. You can read the transcript here . Or watch it here:
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