There is no getting away from it. Your success whether in business, sport or anything else you care to name is in large part dependent on how effectively you manage your time. By managing your time I don’t mean increasing the amount of hours you spend wading through emails or getting up three hours earlier to get your filing in order.
I am talking about identifying what it is that you do that brings in business and revenue. The vast majority of the “other” busy work we do does not reward us with revenue or profits. By focusing on completing more of the twenty percent of tasks that give us the most return on our time invested we optimize our results.
For a small business owner the most important tasks you can perform are to do with marketing your business and revenue generating activities. If you bring in enough revenue you can afford to outsource many of the energy draining administrative jobs that beset small business entrepreneurs.
Sure, when you are starting out you need to conserve your funds and watch the pennies – meaning you have to do everything! However, as a part of your growth plan you should target a level of revenue that will allow you to delegate low return business tasks out to a contractor or part time employee.
Calculate how many more contacts, telephone calls,presentations or sales appointments you could make if you freed up five hours a week. That’s 250 hours extra a year! This could translate into many, many more dollars in revenue.
When you have a few minutes spare write down your daily/weekly chores in the business and identify three of them you would like to hand over to another resource. How much time will delegating these three tasks out free up for you? And that is just the start. The extra time you free up can then be relegated to marketing and building your business further.
Next time you find yourself with you head in the filing system,ask yourself this question. “How much revenue am I bringing in by doing this?” The answer of course is – none. Make a promise to yourself that you will,as quickly as possible, start being more productive with your time so you can create the business and lifestyle of your dreams.