How are you investing your time as a business owner ?

One of the benefits of being a business owner is that your business can run with or without you. Currently, are you working IN your business doing the day-to-day operations of your business or, are you working ON your business focusing on your present and future self? Are you building your wealth (i.e. having money and time), enjoying the finer things in life and ticking off your bucket list items.

How you should be investing your time as an entrepreneur and business owner:
• 30% of your time should be spent keeping your communication channels open with your existing customers and clients
• 50% of your time should be spent on marketing and sales
• 10% of your time should be spent understanding your numbers
• 10% of your time should be spent on personal development – transitioning from managing to leading and directing

Where are you right now in your time?
What are the top three or four time wasters for you and your senior team on a day-to-day basis right now?
On a scale of 1 to 10, what would the average level of productivity be for your entire team day to day?
How much of your week is re-active in dealing with issues vs pro-active working ON and building your business?
So, what would be the cost over the next year of continuing with that level of productivity and reactivity to you personally and to the business?

Here is a 7-point checklist to use to get you back on the right track
1. I have audited my time for a week and understand where I am spending my efforts in relation to the Time Target module mentioned above
2. I have a default diary* and refer to it daily/weekly/monthly
3. Your business has a default diary that the team refer to daily/weekly/monthly
4. I have a regular time in which I plan the following week and prioritize my key activities
5. I work ON my Business for a minimum of four hours per week
6. I regularly review my low value/low enjoyment tasks and consistently strive to delegate/outsource them
7. I have time slots in my diary for my own health and enjoyment – understanding that life Balance is important to the productivity of my Business

If you answered NO to any of these 7 points, then take action right now by engaging an ActionCOACH Business Coach as soon as possible.

If you answered YES to all 7 points, then your business will be thriving right now. Congratulations! Your business is therefore able to run on auto-pilot, without you having to be in the business for long periods of time and your marketing machine has the ability to automatically be turned on/off depending on if you need more new business or not. If you still want to take your business to the next level, get hold of an ActionCOACH Business Coach today.

Marlene Powell, ActionCOACH Business Coach
marlenepowell.actioncoach.com | marlenepowell@actioncoach.com

*Default Diary – kind of like a school itinerary where tasks are allocated to slots etc. A module that is covered in coaching sessions.

Photo by Ales Krivec on Unsplash