Take a step back and make your business work
Sometimes we are so busy running our business that we forget to, or don’t have time to actually run our business.
Spending too much time on the day to day “stuff” gives you less time to take a step back. This means you are not able to manage the big picture. When this happens your business can at best stand still and at worst lose money. As the owner of the business you need to stop managing the small stuff and concentrate on the global running of the company.
Move your business forward.
- You are NOT the only person who can do the job. You may think it is easier to just do things yourself instead of taking the time to train a member of staff to do the smaller, time consuming jobs in your business. Believe me, you are not the only one who can do the things that need done in your business. In fact you might find that someone else in your organisation is even better then you at some things. There is a problem with trying to do it all yourself. You will end up doing all the small jobs and get none of the important ones done. You will also find that your staff will not learn new things and may even be better than you at doing them.
- Stay focused. Getting bogged down doing day to day tasks will inevitable mean you take your eye off the ball. You must give yourself time to think when it comes to the big picture. And we all know what happens if you lose focus. Your job as owner is to focus on the long term goal and manage your staff to take care of getting there#Delegate. It is a tried and tested way of running a well functioning business. Delegation is also one of the hardest things for many business owners to do. However if you get the hang of it then it will pay dividends in the long run.
- Save money by hiring someone. This might sound like a contradiction but here is why it works. If you work out what your own time is worth by taking your income and dividing it by the number of working hours. you will probably find that you are the most expensive person to be doing the small things. Hire someone on less than what you just calculated and you will be saving money. There are numerous freelancing sites like Freelancer, Upwork or PeoplePerHour that can help if you don’t want to take on a full time member of staff,
- Use your time making money. If you spend about 3 hours a day working on the minutia of your business then by using the same calculation as above you think you are saving xxx amount of money by doing the day to day work yourself. But if you spent those same 3 hours taking a step back and figuring out ways to make more profit then you will make substantially more money overall
- Give yourself thinking time. Take a step back and give yourself time to think without having to answer the phone or deal with clients. That way you will have a clearer understanding of how to build and maintain your business profitability. Business brainstorming with your staff is a great way to get fresh ideas and solve problems.
- Stay on top of your management accounts. If you are too busy with the day to day stuff you wont have enough time to look at the things that are going wrong. Your job is to know what is going wrong and fix them. By catching the problems early you will save time, money and possible business disaster in the future
- Hire a business mentor. Or at least have someone who is able to view your business with fresh eyes on a global outlook.
We all think we can do everything ourselves. However unless we manage the business properly there might not be a business to manage before too long.