Working ON your business is all very well, but what if you don’t have the time?
As coaches, the most common complaint we hear from people who want to grow their business is: “I know I need to do some work ON my business, but I just don’t have the time.” And believe me, we understand.
We know you don’t have the time. So the question is: what are you going to do about it? And if you don’t address this issue now, is anything ever going to change? Everyone tells you that systems will improve your business, but when you’re working 60 hours a week, you are never going to find the time to design and then implement systems on top of your day-to-day and week-to-week workload.
It’s up to you
Let’s face it, it is your business and the fact is you are the only person who can make things change. No one else in your business is equipped to do it. It’s not that they are not bright, it’s just that they see your business differently. They see it as the source of their income, the entity that provides them with their pay cheque. You, on the other hand, need to see it as something that you want to build in order for it to give you a return on your investment in it. You need to build the equity and value of this thing you call your business.
The questions to ask yourself are: what are the ramifications of not implementing the systems you know you need? How long can you live with that? And, what will be the benefits of those systems once they are in place? Would that be preferable? The problem is not that you are doing too much work. You are simply doing the wrong kind of work.
Start by looking at your week
Start by listing all of the things you do in a week and how much time you spend on them. Categorize them: client relations, office administration, administrative support, bookkeeping and so on. Ask yourself what you would pay someone to do each category of work. Chances are a lot of it will be between $12 and $20 per hour. Add up the hours. Consider what value you put on your time as the owner of the business. And finally, think about where you are most valuable to the business and then look at how much time you are actually spending in that area. The answer might scare you.
Now work out how much you are costing the business by spending so much time working in the lowest paid area of the business. It is only when you can get a picture of what you are costing the business that you can come to terms with what needs to be done.Start working on the systems in those areas and then get someone in on a part-time basis to follow them, freeing up some of your valuable time. When you have that extra time, don’t just throw yourself into more of the same. Remember why you did it and use the time wisely to develop some more systems that will free up more of your time, which you can then spend on activities that have significantly more value to the business.
A business is going to take a very long time fulfilling its objective if the owner is its most expensive clerical worker.
Until next time…
P.S. Learn more about working ON your business with my FREE eBook! Get it HERE!