In the game of business… How easy is it to allow yourself to become distracted with the many roles that are required to be an entrepreneur..?
Since this year began, I’ve been doing lots of talks to business owners and my clients and the concept of ‘Time Management’ and ‘Focus’ is continually popping up.
In my opinion, knowing the difference between what keeps you busy vs productive is the key differentiation between struggling and thriving entrepreneurs.
Those that struggle get distracted with things that consume their time and produce poor returns. Those that succeed stay focused on the things that provide great leverage and produce multiple positive returns…
Often people try to do everything themselves because they don’t have the cashflow to afford it. Another mindset is to focus on creating additional revenue to then afford the services of specialist in your areas of your weaknesses.
One mindset consumes time, the other creates time!
Two thirds the way through last year a client of mine came to me as his company had produced a financial loss for the previous two years. He was looking to get back in the black.
During one of our first sessions, I asked him a series of questions that produced some astonishing results…
The Questions were:
- What are your current product lines?
- Which are most profitable?
- Which are the easiest to sell/fill?
- Which are the most time consuming to run?
To cut a long story short, he realised that most of his company’s time was spent on filling events that were the least profitable and the most time consuming. And he had be neglecting the events that were the easiest to fill and the most profitable.
So, we set about running more of the latter events… That new FOCUS combined with unwavering commitment and effort to the outcome resulted in… producing £65,000 profit!
Isn’t it amazing when you get clarity on what things produce the greatest result and those that just keep you busy?
So, I’d encourage you to think along the same lines… What actions in your business are keeping your busy? And, what things if you did more of them would make you more productive?
Clarity and awareness are essential to consistent improvements! Enjoy applying.
Let me know by leaving a comment below what actions are keeping you busy and what actions will make you more productive.