James B. Harter President 1248 Rolling Meadow Rd. Pittsburgh, PA 15241 p) 412 -576 -2685 f) 954 -206 -1184 www. sigmapiconsulting. com © 2008 Sigma Pi Consulting LLC
Delegation Done Right Avoiding the two headed monster of micromanaging and abdication. © 2008 Sigma Pi Consulting LLC
About Sigma Pi Consulting l Not a Fraternity but a Formula for Success! Sigma (S) => mathematical symbol for Addition q Pi (p) => business symbol for Profit q l Most entrepreneurs work 60 -80 hours/week. Even if they are making money, they don’t have time to enjoy it. q Sigma Pi introduces structure and efficiencies that gives them back a life outside of work. q © 2008 Sigma Pi Consulting LLC
9 Common Problems 1. 2. 3. 4. 5. 6. 7. 8. 9. Charlotte’s Web Syndrome Presumption of Profit Poor Record Keeping No Post Mortems Wrong Person – Wrong Job Lack of Accountability Inconsistent Processes Lack of Urgency Lack of Strategic Planning © 2008 Sigma Pi Consulting LLC
Charlotte’s Web Syndrome l l l Starts out as a paradigm. Works until business gets too big. Owner who was the impetus to prior success is now the biggest impediment to further growth. Root Issue Is Improper Delegation! © 2008 Sigma Pi Consulting LLC
The Business Owner Tendency l Micromanage in areas of strength. q l You are the expert and no one can do it as well as you can. Abdicate in areas of weakness. q You don’t know the area so you hand it off to some one who does. Both are ineffective !!! © 2008 Sigma Pi Consulting LLC
Balancing Authority and Responsibility R e s p o n s i b i l i t y Authority Low Authority / Low Responsibility => Unproductive worker l High Authority / Low Responsibility => Dictator l Low Authority / High Responsibility => Frustration l Low l High Authority / High Responsibility => Engaged Productive Worker High H i g h Micromanaging L o w Abdication © 2008 Sigma Pi Consulting LLC
Fixing the Problem l l l The unproductive worker must be given a job to do. The dictator must be held responsible to get work done (and how). The micromanaged must be given authority w/o fear of override. But Is That All? © 2008 Sigma Pi Consulting LLC
Proper delegation is still abdication without Accountability! l l METRICS What gets measured gets done! If you are not measuring it, you are not managing it. BUT Choose What You Measure Wisely. If you measure the wrong thing you get dysfunctional results. © 2008 Sigma Pi Consulting LLC
Poor Metrics Good Metrics l Revenue only l l Production only l l Speed only l Revenue at a profit margin Production w/o defects Speed w/ customer satisfaction This is the basis of a Balanced Scorecard. © 2007 Sigma Pi Consulting LLC
The Final Piece to the Puzzle Incentives l l METRICS What gets rewarded gets repeated. If you can devise an incentive plan based on increased profit, you will see improved performance in the target activity. Profit based incentives © 2008 Sigma Pi Consulting LLC
Sigma Pi Consulting Services l l l l Business Process Analysis, Rationalization, and Design KPI Identification and Measurement Balanced Scorecard Profit Based Incentive Plans Flexible Budgets Job Costing and Pricing for Profitability Executive and Staff Training and Coaching Inventory Control and Open to Buy “Over-Under” Tracking Strategic Planning and SWOT Analysis Functional and Positional Organization Charts & Reporting Structures Employee Procedure and Handbooks Job Descriptions © 2008 Sigma Pi Consulting LLC
Thank you for your time. Jim Harter, President Sigma Pi Consulting, LLC 1248 Rolling Meadow Rd. Pittsburgh, PA 15241 p) 412 -576 -2685 f) 954 -206 -1184 www. sigmapiconsulting. com © 2008 Sigma Pi Consulting LLC
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