Step Back, Delegate, Grow with Morgan Owen
Sam Panetta chats with the incredible Morgan Owen of Penny Finance about stepping back and delegating to grow your business.
Your team might only be 70–80% as good as you. But two of them gets you 160%, and ten gets you 700%.
1) The hardest part is the perception
Morgan says stepping back from being the primary loan writer is still in progress. The hardest part is the people, and the belief that no one can do it as well as you.
- It’s a work in progress.
- “No one can do it as good as me” holds you back.
2) Your time is worth more elsewhere
You at 100% may well be better than anyone you bring in. But if you’re doing that work, you can’t do the work that has a bigger impact on growing the business and keeping everyone else fed. Once you’re paying wages, you need your team to be effective.
- Do the work only you can do.
- Growth work keeps the team fed.
- Wages need effective people.
3) The maths of delegation
Even if your team is only 70 to 80% as good as you, you get your time back and the output multiplies. Two people at 80% gets you 160%. Ten people at 70% gets you 700%. You can’t grow without people.
- Two at 80% = 160%.
- Ten at 70% = 700%.
- You can’t grow without people.
The biggest lesson from Morgan Owen
Let go of doing it all yourself. A team that’s 70–80% as good as you multiplies your output and frees you to grow the business.
