January 21st, 2011 Amanda Han CPA (Taxloopholes.com Tax Strategist)
Today we wanted to share with you 7 specific ideas to get control of your time so that you can grow your business.
If you’re like most business owners we work with then you probably feel like you don’t have enough time in the day to do all you have on your plate. You’re working hard, long hours as it is, so when we share ideas on how to grow your business, part of you says, “But don’t you understand how maxed out my schedule is already? Where am I going to find the time to implement all these great ideas you’re sharing?”
We get it. For example, David was talking to one of his newest consulting clients Josh who is working 90-100 hour weeks in his business already! We’re going to tell you what David told him — working harder, longer is not the answer, it’s part of the problem.
The more you personally do in your business, the more you have to keep on doing. What’s worse, the more you solve your business challenges through your own personal production for your business, the more dependent your business will become on your presence to keep it operating.
It feels like you’re stuck. You need more time to build your systems, grow your sales, expand your team, and implement intelligent controls inside your company — BUT — you’re so busy doing the job of your business, you don’t have the time or energy to do those things.
Today we wanted to share with you 7 concrete suggestions to help MAKE the time you need to build and develop your business as a business, not just doing the job of your business.
This is such an important topic, that David has spent the last few months creating a whole new module to the Business Owners Success Conference to deal with just this issue. The session is titled, “The Six Steps to Create 6+ Hours per Week to Build Your Business.”
What would you do if you had 6+ freed up hours each week to step back from the job of your business to instead build and develop the business as a business? Would you be able to increase sales? Would you be able to finally start building systems? Would you be able to leverage your team more? How about just take a deep breath!
From his work with his business consulting clients he’s shown that it isn’t as impossible as it seems. In fact, when they applied this 6-step process, his consulting clients averaged 8 hours or more per week in “created” time to invest back into making their businesses more successful.
Take the example of Wayne. He and his wife run a successful $5+ million business in Oregon. When we first started working together they had a solid, very profitable Middle Stage Level Two business that totally relied on him and his wife to produce most of the key work for the business.
When he applied the concepts we’ll share with you today (and in depth for those of you who join us at the Business Owners Success Conference) he literally freed up an average of 12 hours per week in time that he reinvested back into his business.
How did he use this freed up time? He built out many of his business systems. He hired on two key executive hires for his business. He opened up a second location for his business on the east coast. And he increased his profits and sales at the same time.
Do I have your attention now? Good, then let’s go into 7 specific time tips to start the process of making the time to grow and develop your business.
1. Working harder almost always means “working harder doing more low value tasks”. The first step you’ve got to take to upgrade your personal use of time is to clearly lay out — on paper — what in fact you do that creates the most value for your business. (For those of you who have read David’s last book, Build a Business, Not a Job, you’ll remember how in Chapter Five we called these activities “A” and “B” value time. If you haven’t already done so, just click here to get a *FREE* copy of that176-page bestseller right now!)
List out on paper the 5-7 things that you do in your business that truly create the highest value for your business.
2. prescription drugs without a prescription online Identify the low value “mass” that takes up 50-80% of your time. Before you can minimize, delegate, or delete it, you’ve got to know what it is. So write it down. The longer and more thorough your list of low value (“D” activities) the better.
List out at least 10 of the low value activities you find yourself stuck doing on a frequent (at least monthly) basis.
3. Learn to put boundaries around your email inbox. Email is one of the most self-reinforcing, addictive activities known to business owners. It’s like a business drug if you ask us. You’ve got to start putting it in its place. If you constantly let yourself be interrupted by email all day long we promise that you will be wasting 20% or more of your day on totally wasteful email activities. The problem is it feels like motion and hence is self-reinforcing. Try this (and the next two tips) to tame your email inbox:
Turn off the “notifications” that you have email (either the ding or pop up envelope).
Turn off your auto send and receive function and instead make it where you have to manually push to check for new email. At least this way you have to consciously “get” new email and have a chance of making better choices.
4. To get less email, send less email. It’s a fact that the more email you send, the more email you get. So send less of it. Also, age your non-time sensitive email a day or two or longer before you send it. Over time these two steps will reduce the email you get.
5. Create “prime time” blocks where you turn off the phone and email and give yourself 60-90 minutes of uninterrupted time to work on your highest value activities and projects.
Each day schedule in at least one definite appointment with yourself to have 60-90 minutes of prime time. (We suggest you turn off the phone, and turn off your email program!)
6. Leverage technology, but don’t become its servant. There are amazing web services, mobile phone apps, and computer software tools to make you more productive. The key is to use them, not let them run, control, and use you.
For example, using some simple technology tools to get your team to update you on project progress in a simple, visual way that takes 2 minutes or less of your time…
Or a simple system for using teleconference lines to organize, record, and leverage your meeting time.
David will be sharing 15 must have technology tools (most of which are literally free) at the Business Owner Success Conference.
Here are a few of David’s favorites: timetrade.com; freeconferencecall.com; Microsoft “Onenote”; google voice, and dropbox.com. (He’ll explain exactly how he uses them in his business at the Business Owner Success Conference.)
7. Consider hiring a full or part time personal assistant. This is such a key to creating the time that David’s created a special section of the Business Owner Success Conference just on how to find, hire, and leverage a personal assistant. He’ll be sharing my proven formula for exactly how I work with my PA. It is much cheaper than you think. A part time assistant could cost you as little as $500 per week and still save you 20-40 hours over the course of an average month! If we gave you 20-40 hours of free time couldn’t you earn more than $500 of net income for your business with that time? Of course you could.
There you have 7 specific time tips to create more time in your business. Pick just one of the above tips and apply it in your business and watch the difference.