Have you ever heard the saying, “If you want something done right, do it yourself?”  Well, that might be true for some things when it comes to your business but if you find yourself stressed out all the time, it’s most likely because you are doing too many things yourself. And, that’s a recipe for burnout.

To get to the next level in your business, you don’t always need to do more. Rather, you need to know WHAT to delegate and HOW to delegate.

One of the best books on the subject of delegation is “Free to Focus.” Author Michael Hyatt describes what he calls The Five Levels of Delegation, which provide a clear framework for leaders to delegate tasks effectively while still staying in control of what’s going on in their business. Let’s explore these five levels and how they can be applied to your practice.

Level #1: Do Exactly What I Say

You give specific instructions at this level and expect your team to follow them precisely. This is appropriate for situations where the task is new or the team member is inexperienced. For example, if you have a new assistant unfamiliar with your client onboarding process, you might provide a detailed checklist for them to follow. The following are examples of where you use Level 1:

• Assistant Onboarding: Provide a step-by-step guide for new assistants to follow when onboarding.
• Client Onboarding: Provide a straightforward process of how new clients get into the client servicing system.
• Data Entry: Provide clear instructions on how to input client information into your CRM system.

By starting with detailed instructions, you ensure that tasks are completed correctly while also building a foundation of trust and competence!

Level #2: Research and Report

You ask your team members to gather information about a particular topic and report back to you. The decision-making authority still rests with you, but you benefit from the research and insights provided by your team. The following are examples of where you use Level 2:

• Market Research: Ask a team member to research market trends and report their findings.
• Regulatory Updates: Have a team member stay updated on regulatory changes and provide summaries.

This level allows you to leverage your team’s skills and knowledge while retaining control over the final decision. Plus, this will free up your time!

Level #3: Research and Recommend

Here, the team member is not only asked to research the topic but also to recommend a course of action. You will review the recommendation and make the final decision. The following are examples of where you use Level 3:

• Investment Strategies: Have a team member research different investment strategies and recommend the best options for a client.
• Technology Solutions: Ask a team member to evaluate different CRM systems and recommend the best fit for your practice.

This level encourages critical thinking and problem-solving, and creates a sense of ownership and responsibility in your team!

Level #4: Decide and Inform

The team member decides and then informs you about the decision before implementing it. This allows you to monitor the decision-making process and intervene if necessary. The following are examples of where you use Level 4:

• Client Communication: Allow a team member to handle routine client communications and inform you of any significant issues.
• Event Planning: Delegate the planning of client events to a team member, with the expectation that they will keep you informed of their progress.

This level builds trust and autonomy, enabling your team to take on more responsibility!

Level #5: Act Independently

At the highest level of delegation, the team member has full authority to make and implement decisions, notifying you of their actions on a scheduled or as-needed basis. This is typically appropriate for highly competent team members who have demonstrated trustworthiness. The following are examples of where you use Level 5:

• Client Management: Empower a junior advisor to independently manage their client portfolio.
• Business Development: Allow a team member to pursue new business prospecting campaigns without needing constant oversight.

This level of delegation frees you to focus on strategic initiatives and high-level decision-making, knowing that your team can handle day-to-day operations!

Why Mastering the Art of Delegation Works

The reason mastering the art of delegation works so well is because its not just about offloading tasks as it is about empowering your team to take on more responsibility by using the right level of delegation for specific tasks.

In the Advisor Solutions Podcast Episode #118: Mastering the Art of Delegation, you will find an overview of the importance of delegation and a more detailed account of each level and real-world examples. When you apply these principles, you will soon find that mastering delegation is the best way for you to get your business to the next level!