If you consider yourself a high-functioning multitasker, you might want to rethink your approach tohow you run your small business. Studies in psychology have revealed that what many of us refer to as multitasking is simply “task-switching” in disguise, and it’s neither effective nor efficient where business performance is concerned.
The Inefficiencies of Multitasking
The fact is that when you shift your focus back and forth between tasks, there’s a lag time during which your brain must readjust as it makes the switch from one mental activity to another. Not only does this serial tasking lower productivity by up to 40 percent, entrepreneurs and others who frequently engage in task-switching actually end up:
- Making more mistakes
- Remembering fewer details
- Taking longer to complete the wide variety of duties where mental focus is required
Since the brain can’t effectively be in two places at once, experts suggest that business owners are far more likely to improve their productivity and financialachievements by engaging in “singletasking”, or focusing their considerable energies on their main area of expertise. For this reason, one of the key elementsin business success at any level is delegation.
Why You Should Learn to Delegate
It’s common for the small business owner caught up in the frenzy of daily interactions to forget just how valuable their time is. Instead of concentrating on meeting the needs of their clientele, or drumming up new business, busy entrepreneurs tend to get distracted and misuse their time by engaging in tasks that could, and should, be delegated to somebody else.
When a business owner assigns multiple professional roles to their in-house staff, or worse, adopts the wearing of too many hats themselves, it can lead to a number of negative outcomes, including:
- A lack of investment in long-term strategizing
- An undermining of the company's overall financial health and performance
Even the most energetic entrepreneur is inevitably going to reach the point where they can no longer do everything themselves, especially if their business is growing. So the next time you find yourselftrying to micromanageevery detail of your expanding enterprise, remember that many analysts proclaim a lack of delegation to be particularly detrimental where the small business is concerned.