Some people are really great at delegating, but others get a little stuck when it comes to relaxing enough to move on to the more important tasks in their real estate business. When this happens, the micro-manager is taking over, and it’s costing you more than you may be aware of in your business. Here are 5 ways you pay for micromanaging your real estate team.
- You are using more time than if you had done the task yourself. When you micro-manage it takes time. More time than if you had done the task yourself.
- You are backtracking over what has already been completed or is in process. By forcing those assisting you to step out of what they are currently doing to review old business or something they are currently working on it is costing those helping you time. In fact, it takes more than twice the amount of time they would normally spend on the task because it takes time to shift from one task to another and back again. And if it’s work that has already been completed then chances are it’s going to take more than a few minutes to review it before they can get back to you with an answer. You are causing your team to be less efficient.
- You are undermining the confidence of the people helping you. When you undermine the confidence of your team they then become re-active instead of pro-active. You make it almost impossible for them to be forward thinking because they aren’t sure if they will have to go back and do the same task twice because it wasn’t run by you first. Ouch!
- You aren’t generating more business because you’re too busy micro-managing. You get so wrapped up in the minute details and overthinking everything that is being done for you that you don’t have the time you need to actually grow your business as you had intended. You’ve actually cost your self revenue by backtracking.
- You may lose valuable team members if you micro-manage them. Most people don’t deal well with being micro-managed and will only put up with it for so long. After that they begin looking for a way out. Independent thinkers are known to loathe being micromanaged and will look for a way out and fast.
The hidden costs you pay when you micromanage your real estate team can be steep, as you can see. The only way to stop micromanaging is to either find new people you trust or gradually break the habit.
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