It is true that experts have been emphasizing on the importance of delegation, going to the extent of saying that you can’t lead if your can’t delegate. On the flipside, it is also true that there are some things you should do yourself.
Right from the start you should start delegating work to your employees and freelancers to escalate the growth of your company. However, if you try delegating sensitive issues such as fundraising and investor relations, it will hurt you badly. Let’s find out why.
First up, investors will not appreciate it if someone who works for you contacts them. You, the CEO of the company, should do this. Investors will not give you the money unless they are sure that they will get returns. This is why they will want to talk to you directly. How you talk to them and strike a deal will tell them a lot about how you will negotiate with your clients and whether you have the ability to make things work in your favor. This will reveal your potential and make it easier for them to trust you.
We understand that you barely know about financing and investments but that doesn’t mean you hire someone else to do the talking. It means that you should learn at least the basics and prepare yourself for these big meetings.
Just like with fundraising, meetings with the investors should also be headed by you. Once an investor agrees to invest in your business he will be in constant touch with you. You will have meetings in which you will have to explain how you are spending the money. You may not like it but after you get an investor you will have to ensure his happiness. You have to keep proving yourself. If you delegate this to someone else, how will that be possible? Remember, if you manage to impress your investors, they will play a major role in the success of your company for many years to come.
Thus, no matter what you do, do not relinquish control on these two important aspects of your business.
Delegating is highly advisable but not when it comes to investors and fund raising. These are aspects that should always be under your control in order to ensure that things work in the favor of your business. Read up about finances if you need to but do not delegate these tasks.