The biggest “A-HA” moments (or “OH-NOOOO” – depends on their outlook) by my business clients happen when they see how MUCH time they waste on NON-REVENUE generating activities.
What’s NON-REVENUE, exactly? Anything that doesn’t directly make money for the business OR honor the owner’s strengths that create revenue.
During last week’s Workshop: GOAL SETTING FOR PROFIT, we found that this usually happens:
A. When business owners are truly unaware of the value of their TIME
Take a hard look at your time & focus. What would be your HOURLY RATE?
Or, what would you charge someone else, if you did the task for them at market rate?
B. When owners refuse to spend their time on their strengths rather then the “busy-ness” of running the business
You’re not REALLY running a business unless you’re doing it all, right?
To be fair, it’s your business, your baby, your dreams.
In reality, being busy doesn’t equal being productive OR being profitable. Your strengths are what’s going to push and benefit you monetarily, further than any “busy-time” that you fill your time with.
C. When owners mistakenly believe that they’re the ONLY ones who can do this better, faster or more efficiently.
Wow. Guilty of this, myself. You get a thought or an amazing idea for your business. It’s big and you know you need help with it. Either you don’t know everything to execute, or there are many moving parts. You consider delegating it out but you start thinking of how much time it would take to explain, and train someone on your idea, or the cost is out of your budget — so you start to do it yourself. You get overwhelmed and frustrated, so you procrastinate on it. Soon, that idea is shelved due to “lack of time” but really it was “lack of focus”.
Listen. It’s time to let go of your ego on this one. If someone can do your job, BETTER, or FASTER than you can – it’s time to release the reins on that task. If there’s an app that can do this with half the time and more data collection – AUTOMATE the hell out of it.
When you know your TIME VALUE, your FOCUS will immediately shift to REVENUE.
Your time is finite and valuable. Take your focus back.
To your success,