You may not be able to delegate responsibility for all the tasks outside your wheelhouse, especially in the beginning, but simply acknowledging these weaknesses benefits you and your company in many ways:

• Time. First, if you struggle with an area, you waste valuable time on it and do not produce good results. Someone who has worked with a small business accounting package can set up the finances of your business in a few hours. It might take you much longer—and with much more frustration. If you have never raised money before, you’ll discover it’s an adventure, but one that thousands of others have already mastered. Instead of spending your limited time struggling, use it to find someone who specializes in your problem area. This saves valuable energy and an unnecessary expense of time.
• Leadership. Second, when you acknowledge your weaknesses, you send an important message to your team. They see a leader who is candid about his or her strengths and limitations, and demonstrates a willingness to put the business first by reaching out to others for help. It also suggests to your team that you can look at yourself critically and choose the health of the business over your own ego. Leaders who think that they are good at everything, and stubbornly persist in this perspective despite clear evidence to the contrary, strain their credibility with those around them.
• Third Parties. Finally, investors and other third parties look for leaders who understand that, while they may be talented entrepreneurs, their skills need to be complimented with other assets in order to grow the business appropriately.