The Single Most Important Skill of highly paid CEOs, Managers and Billionaire Entrepreneurs

Do you know which is the one of the most important skills for highly paid CEOs, Managers and Billionaire Entrepreneurs?

It’s the skill that most people lack, so they can’t make it to that level.

This skill is termed “Delegation

delegationDelegation is the KEY to massive business growth, period.

Have you ever heard anyone say, “The less I do, the more I make?

This statement may not sound authentic for people like us but it certainly hold true for these billionaire managers.

Here are few examples:

Do you think a billionaire like Michael Dell ever hears that a button on one of his PC’s has a problem?

Do you think FedEx’s Fred Smith is ever alerted when a package or even a thousand packages are misplaced?

Of course not.

And what about the titans like Trump and Carl Icon that control dozens of multimillion-dollar businesses, how do they do it?

Delegation, it is the only way.

As MBA Ka Keeda is focused on MBAs , let’s talk about Managers first.

People have this wrong notion about managers, they think manager is someone who manages everything, takes every important decision and orders everybody under him/her. According to the popular common belief, the manger exercises control using force, he/she has no other important work except managing his team and their performance.

But if you see , all these things are far from the truth.

Great managers ask their team what the team should be doing. Great manager integrates the team . Good managers/recruiters don’t hire slaves or robots to whip them with a stick, they hire smart people who know what they are supposed to be doing. He supports them, develops them, bring the resources ,help them in training , encourages them, and help them clarify their goals.

A manager of this breed is  good, effective and delegate.

A good friend of mine who works in a reputed MNC , occasionally interviews the candidates. Once he was interviewing a candidate , so he asked him what role he would like to take in this organization ? On that he promptly replied “ I think I will become a good manager.” My friend asked “Why ?” upon which he replied “ Because I like the idea of being the decision taker and tell everyone what to do..” On which my friend said “ I think, you will become horrible manger then.” And then he explained him about the qualities of a good and effective manager, he also explained him the importance of assigning right people to the right task.

So the most important skill for  a good and effective manager is delegation.

When Richard Branson asked what he believed to be the single biggest element of his astounding success he uttered,

richard branson mother

Well, I am a pretty good delegator.

Branson is now a principal of between 300 and 400 companies at any given time. That means he can give each company only one day a year or so of his attention if he works every day.

How the heck does he do it?

Branson said in the interview that he was outsourcing his homework by 5th grade and the rest of his career has been about the same.

Drill it down inside your brain, just because it has to get done doesn’t mean you have to do it.

Find good people and delegate everything you can, starting today. That’s what good mangers do. If they screw up, assign better people and do it again. “YOU, Inc.,” doing everything yourself, will never be a big company.

It’s actually impossible.

Tomorrow , in the follow up post , we are going to learn about 4 keys to becoming an effective delegator, stay tuned for that post , till then comment below and tell us if you agree with us or not.

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Sukrut is a passionate geek, internet visionary and a full time blogger, he has been teaching MBA students from the past two years, he is a chemical engineer by qualification,. Read my full story here

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