In October 2004 I posted a series on Delegation in the blog ITC Communication Edge. It was basically a "how-to," I have since found this article - gives much more detail on the advantages of delegation.

Why Entrepreneurs Should Delegate

Find out why sharing your responsibilities and authority with employees is essential for business success.

Do you need more hours in your day? Do you have so much work you're not even sure where to dig in? If so, you're like hundreds of other entrepreneurs who say they're overwhelmed with work. But why is that? Some of the most common excuses include these:

You're too busy to take the time to delegate or train someone else.
You don't have the time to explain tasks or projects.
You're the "best" or "only" person who can do the job right.
No one else is available or responsible enough.
If you delegate responsibility, you'll lose control over the project.

Read the whole article.