Take a Step Back and Make Your Business Work
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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 and less time to take a step back and actually manage the big picture. When this happens your business can at best stand still and at worst lose money.
Here are a few steps to begin to change that and move your business forward.
- Remember that you are NOT the only person who can do the job. Often we think it is easier to just do things yourself instead of taking the time to train someone to do the smaller, time consuming jobs in your business. The problem with this is that you will end up doing all the small jobs and get non 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 with doing day to day tasks will inevitable mean you take your eye off the big picture. And we all know what happens if you lose focus.
- Delegate. It is a tried and tested way of running a well functioning business. It is also one of the hardest things for many business owners to do. But if you get the hang of it then it will pay dividends.
- 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.
- 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. Unless you take a step back and give yourself time to think without having to answer the phone or deal with clients then you will have a clearer understanding of how to build and maintain your business profitability.
- 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 and do something about 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 but the truth is that unless we manage the business properly there might not be a business to manage before too long.