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Everyone has time, but it’s one of the rarest resources in the world. Money comes and goes quickly, in the blink of an eye, but time is the essence of life. You can seek more income or close another deal; however, the number of hours in a day remains the same. Quite a few business people end up waste their precious time Instead of building a billion-dollar company, engage in activities that don’t add value to their business.
I’ve experienced this firsthand. When I started my business, I agreed to answer emails, perform administrative tasks, and evaluate unhelpful options that would not lead to growth. Recognizing that time is a critical resource has led me to focus on building systems and procedures that will help me recycle my time and build a successful business.
1. Taking back time starts with assembling the right team
The most valuable asset you have is time, once lost you can never get it back. If you invest your money in areas that are not the core of your business, in things that don’t require the unique skills of the owner, entrepreneur, or CEO, then you’re wasting money that needs to be focused on creating leverage. where is this the right team play a role.
The key here, of course, is to find someone who not only matches your own skill set, but is also willing and able to take full responsibility for some aspect of your business. You don’t have to control every variable. Once you have a fully synchronized team, the focus is no longer on exist business but working exist business.
For example, if you spend most of your time dealing with customer complaints, then you should have someone with good communication skills handle the customers. Let others help you take the burden of accounting, social media, and day-to-day tasks off your shoulders. When you have the right people, you are no longer the “bottleneck” in your business. You are the captain of the ship, not a repairman patching holes in the ship.
Actionable insights: List three activities that consume your time but do not contribute to achieving company goals. Either delegate these tasks to more capable team members, or outsourcing To someone who can manage this. Spend this time on strategy, vision, and even sleep, because a tired mind is a fragile mind.
2. Systems and processes are the backbone of scaling
While the team is a solid foundation, this is processes and systems Come in and let the team work efficiently. A business without processes is like a ship without a goal, sailing in a sea without a compass and never landing. Think about it: If you’re stuck answering the same questions, solving the same problems, or putting out fires, your business lacks the processes to function without you. The more standardization you have, the more you can grow without complicating your life and business.
automation Can be of great help in this situation. The chores that take up your time may be repetitive and can be easily handled through technology. Whether it’s the customer onboarding process, managing leads or resolving customer inquiries, having such a system can save you more time for more important tasks.
Actionable insights: First, map out every process in your business and write it down. Where can you apply automation, or where can you reduce the number of repetitions? Some examples include project management applications, email autoresponders, and customer relationship management (CRM) programs.
Related: How to use automation as an entrepreneur (and avoid the pitfalls)
3. $10 Mission vs. $1 Billion Vision
Unfortunately, the worst thing for an entrepreneur is to get lost in the details. You decide, “I can do this faster myself,” and while that may be the case in the short term, it’s a harmful attitude. Sitting in front of a computer for an hour correcting website glitches, entering data, or organizing documents may seem productive, but it won’t help your business achieve its billion-dollar goal.
How much does it cost to perform these tasks yourself? It’s not just the time factor, but the value of time lost in otherwise valuable processes. every hour you spend $10 mission This is a time when you don’t have plans, haggling, or exploring new markets.
To effectively double, triple, quadruple, or even more your impact, you must focus on the activities that deliver the most significant returns. This is where time and money meet. But by doing this, you free up time to understand the big picture, which is where the exponential effect happens.
Actionable insights: You should decide which tasks are appropriate for you as a business leader and which tasks should be left to others. If this was a $10 job, it would be entrusted. If this is a $10,000 mission (for example, forming a new strategic partnership or diversifying your product line), then this is where you have to focus.
4. Implement the 10-80-10 rule
A very helpful idea I came across is the 10-80-10 rule. Here’s how it works: As a business owner, you only need to complete 10% of the project, which is defining direction, vision, and goals. Then, leave the remaining 80% to your team—the implementation phase. Last but not least, you will be involved in the last 10% of editing and commenting. Following this rule means you are part of the decision-making process and control the creative vision, but are not micromanaging the process. This means your team does most of the work, but you are the one making the big decisions.
Actionable insights: Use the 10-80-10 rule for the next project you’re working on. It’s wise to set goals, let your team know the details of how to achieve them, and then critique them.
Related: The best way for your business to thrive is if it doesn’t require you
5. Institutions create freedom, not restriction
Many business owners shy away from processes and systems because they believe it stifles creativity. But the reality is Have systems in place Leads to freedom. When your business doesn’t require you to control every aspect of it, you have the opportunity to innovate, spend time with your team, and strategize for the next big step forward.
Actionable insights: Create structures that target freedom. Automate repetition. Record the necessary content. Let others do the rest. This way, you can devote hours or even days to what matters, which is the future of your business.
You can always make more money, but once you lose time, you can’t get it back. The key, then, is the right people, good processes, and understanding work that really matters. Take time out of wasted work and invest in making your dreams come true. You have time – use it.
