Business Owners: Are You Using Your Time Wisely

In business, the most valuable commodity an owner has isn’t their stock or how much money is in the bank: it’s time. Despite this, many leaders fail to properly give what they do with their time the level of attention it requires.

The same people would notice pretty quickly if their profits weren’t as healthy as they should be, but never stop to think about how they’re spending their day. Might you be guilty of this? Here’s how to get back on track.

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Source: Pexels.com

Casting the Net

 

If you were fishing for salmon and cast your net over a hundred mile square radius in the ocean, you would certainly get some salmon…but you would also get a whole bunch of other fish that you have no use for. Would your time not be better spent by researching where the salmon are, and using that information?

There’s a wealth of data out there that tells you exactly where your potential customers are, so make the most of it. Mortgage mailing lists, for example, can give you the information of whichever specific demographic you want to target. By doing the research before you begin your advertising campaign, you’ll save money – and more importantly, time.

Striving for Perfection

You have to stop thinking of your company as your baby. It’s not. You’re just the leader of an organization that has other players in it. Think about how difficult it is to maintain a perfect home, and then amplify that exponentially; that’s what striving for perfect in all aspects of a company is like.

Trust the people underneath you. You’re there to lead, and you can’t do that if you’re walking around after people, making sure everything is perfect. Put your efforts where it matters.

 

Too Many Ingredients

 

Having as many ideas as possible shows you’re a creative organization: trying to put too many of them into practice at once shows you’re an inexperienced one. Pick the absolute best ideas you, and go with that. Trying to do too much at once will cause your resources to be spread too thin, and you’ll end up in a worse place than when you began. Too many cooks spoil the broth; too many ideas spoil company momentum.

 

Day-to-Day Issues Taking Precedence

On any given day you’ll be faced with a series of mini problems that need to be solved. But if you’re only solving the small issues, you have no time to develop the bigger, longer term vision that will really take your company to the next level. Putting out day-to-day fires will keep the house intact, but it won’t add the stories you need to grow. If you’re struggling to make it through the day, hire extra staff – it’ll pay for itself in the long run.

Too Much Talk

Too many meetings, too much planning, too much talk. Limit your meetings, and when there’s a good idea, get to work on it – nothing wastes time like talking and talking when you should be doing!

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