Managing your own business is one of the most rewarding things you can ever do. On the other hand, it can be one of the most challenging things you can ever do, in part because understanding how to make a profit is a never ending task. There’s always something more to learn. It’s even more challenging if you are trying to do everything yourself, which brings me to the question, “What are you doing that is costing your small business money?” Follow that with, “What are you not doing that is costing you money?”
The key here is to ask yourself what is the value of your time? As a small business owner, the responsibility ultimately for all decisions is yours. This means that there are things only you can do, especially decisions only you can make. As everybody has the same number of hours in the day, if you are doing things someone else could be doing for you, it means you have that much less time to do what only you can do so your business can suffer and even lose money because of what you don’t get a vital task done.
The first step to getting more control is to create a list of your tasks:
Here’s one possible way to code your list:
While you are at it, I also suggest you look at two things:
Once you have that done, you need to decide to whom you want to assign each task. You have a variety of options available to you:
Again, what are you doing that is costing your small business money? If you are micromanaging or doing tasks that you could assign to others, you are probably wasting money because that means you are not doing those things to promote, manage, plan and otherwise grow your business, which only you can. Determine where the most valuable use of your time is. Identify what is vital or critical that you need to personally do. Then delegate and be there to support and guide your staff. You have a variety of options available for help. Best of all, you will start to enjoy your business more; and, if done right, so will your staff, who have more responsibility and thus more satisfaction.
If you are starting to consider getting professionals to help you improve your knowledge and systems, I want to offer you ebook bonus “How to Succeed with a Consultant.” I will send the link as a thank you for your opt in to my community (mailing list). I want to share additional tips and training as well as referrals to people and products related to small business management. Should this no longer serve your needs, you may opt out from receiving these emails.
Helping heart centered businesses be profitable,
John R. Aberle, Aberle Enterprises
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