One of the most important time management rules: Value your time.
Young (in terms of business) entrepreneurs tend to waste a lot of their time on groundwork, that can easily be done by someone else on a relatively small payroll. Whilst forgoing much more important activities, such as networking, contract negotiations and improving your business in general.
Vast majority of people don’t seem to grasp that 80/20 rule is valid for any business related practice, including time management. Being accustomed to DIY rationalization is one of the main reasons why we tend to waste numerous hours wrestling with new OS (or any kind of new software for that matter), fixing broken office tech and such.
So effectively (without even bringing your competence in fixing certain issues into the question) you are doing a 15$/hour job when you could be running your business that brings in x10, x100 or even x1000 times more than that.
It’s no secret that many up-and-coming businesses suffered tremendously because of CEO’s habit to get busy and do these small jobs here and there. Sadly, even though it might feel like a right thing to do, it won’t bring you any wealth nor will it move your business forward.
The obvious thing to do is to employ people for facets of your business that require certain level of skill and experience, such as PR, sales department and so on. But what about your mundane, everyday tasks? From doing dishes to changing a lightbulb.
There’s few things that can help you to get rid of routine, time consuming things:
1. Hire help. It’s not hard to find people who are both willing and able to do a 10-15$/hour job that consists of cleaning, cooking and helping around the house and/or office. Your time and skills are better spent elsewhere, preferably working towards earning more money and expanding your business. Besides it creates job opportunities for other people, you got to start somewhere after all.
2. Outsourcing is big for a reason. It’s cheap and effective, plus it gives you even more time to focus on important things. Which makes it a next logical step, assuming you already hired someone to take care of your laundry and to check your emails.
3. Personal aide is invaluable, especially considering that you can find one fairly easily and for a reasonable pay. Managing calls and voicemail, resupply runs, sorting through documents etc. Most people would prefer that to brewing coffee or waiting tables. Networking helps a lot in moving your career forward and pay’s better, so it’s a win-win for everyone.
4. Loosen up a little, not every hour nets you a fixed amount money, there’s no point in rushing into things when you are done with the Catch-of-the-day kind of situation. You will need your wits and sharp mind next time you are going to handle a big client or contract, but until then, don’t stress yourself out more than you really have to,
5. Pretty much everyone has that sweet time of the day when they are most productive, focused and overall successful. Keep that spot away from everyday struggles, preserve it for some really meaningful, long-term kind of strategy that takes the most amount of preparation and evaluation.
Following said steps is relatively easy and will net you a steady flow of thousands dollars per hour on daily basis. It’s a good way to realize your business to its fullest potential.