I know it’s a bold statement and a lot of you will disagree. But please have an open mind and hear me out.
Time is the great equalizer. We all have the same number of hours in a day, yet some entrepreneurs, many of them self-made, become wildly successful, while others languish. Only one in twenty business owners in the U.S. (2002 numbers) make it past $1 million in annual revenues. I believe the way they use their time is a big factor in their success or failure. Here are three better explanations of your time problem:
- You are not delegating enough. This could be on a couple of levels: you might not be delegating enough tasks, but you also might not be delegating enough authority. This problem is based in fear of letting go of control and trusting. (If you don’t think you can afford a team, then you have some kind of marketing problem that needs to be addressed.)
- You are doing everything from memory without having documented, automated, or systematized your business to the extent that makes you competitive with others. Read Michael Gerber’s The E-Myth. This one is more of a skills issue than a fear issue.
- You remain in a reactive mode, fighting fires all day. There could be many reasons for this, and fear is at the root of most of them: we tend to do what we already know how to do, we may have some boundary issues with clients we need to work on, and we might be doing #1 and #2 above which contributes to this one.
(There are several more, but I have to leave some content exclusively for the benefit of my coaching clients!)
When you can go deeper to root out your so-called time problem, then you have something you can work on to improve your business. What can you do to better leverage your 24 hours each day?About the author:
©2010 Sandra L. Smith, Inc. Business growth and high performance expert Sandi Smith is a coach, public speaker, author, and scientist. She’s one of a handful of women who have co-piloted a single-engine airplane around the world. Sign up at www.sandismith.com to get her FREE newsletter full of business-building tips.
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