Delegate your work, not your business

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Delegating is one of the oldest management principles around. But experts have pushed the concept so hard that it often seems like the best leaders delegate literally everything. In my career I've met more than a few managers who do just that -- they hand off or dump so much on others that the delegators lose touch with too much of what's going on in their business.

Managers who stay too close to people and their projects are often thought of as unproductive and inefficient, micromanaging, old-school. But it's important to know the difference between handing-off and being hands-off.


More from CBS News Moneywatch.

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