Running a business requires wearing many hats, so it’s easy to lose focus or get overwhelmed. That’s why it’s so important to keep your priorities straight and eliminate extraneous tasks that don’t contribute to your bottom line.
It may sound complicated, but it’s actually very simple: delegate, automate, or delete anything that doesn’t require your personal attention. Here’s how to apply this principle to your business.
Every business has projects that need to get done but aren’t tied to your company’s core business function. For instance, writing press releases, processing returns, managing customer service issues, and keeping the books. You may have handled all of these tasks (and then some) when you first started the business, but now they just distract you from the big picture. And they cost you money. Think about it: if you’re answering customer service calls when you could be generating more revenue, then you’re cutting into your own profits. Say you hired an assistant at $15/hour to answer the phone while you bring in $150/hour speaking, coaching, or doing some other high level function. After you pay the assistant, you’d still be earning $135/hour and working more efficiently. As you grow your business, it’s necessary to find employees or contractors you trust and delegate some of the day-to-day tasks that slow you down.
Of course, not everything requires a live person or a manual entry. Once you create systems to automate mindless tasks, you’ll notice that your business runs more smoothly and you have more time to devote to tasks that really matter. With the right software and a little set-up, it’s possible to automate most of the tedious manual tasks. Allow your employees to focus on tasks that will bring your business benefits.
Once you’ve used these strategies and the right software to streamline your business processes, you’ll enjoy lower stress levels and increased productivity, both of which will benefit your business.