The Most Important Activities in Your Business
What are the most important activities in your business? And how should you spend your time? That is a million dollar question.
One of the most common mistakes entrepreneurs make is they spend their personal $100 per hour time doing $5 per hour tasks. Let me repeat that so it sinks in. One of the most common mistakes entrepreneurs make is they spend their personal $100 per hour time doing $5 per hour tasks.
If you own a business, you have to spend your time wisely; especially if you are a small business with no (or few) employees. If I was a betting man, I'd bet you are probably focusing on the wrong tasks right now.
In any business, there are typically 5-10 critical tasks. Sure, there are hundreds of things that need to get done. But, most of these activities aren’t critical. Most of these tasks don’t need to be done by you (or done during your productive hours).
In my opinion, the most critical activities in any business include:
• Generating Leads
• Meeting with New Prospects
• Giving Sales Presentations
• Closing Sales
• Following Up/Keeping in touch with Current Customers
• Advertising and Marketing Your Business
• Finding Ways to Increase Profits
• Networking with other Entrepreneurs
In my opinion, these are your most critical tasks. These are the tasks you must focus 80-90% of your time and money on.
Other tasks such as tweaking your website, cleaning your home office, and keeping your books are important, but they shouldn’t be done during your PRODUCTIVE hours. You should only do those tasks after you’ve done the critical activities, or during your non-productive time. If possible, you should delegate these tasks to someone else.
Most entrepreneurs work hard. But, they make the mistake of trying to do everything themselves. They spend MOST of their time focusing on the wrong activities.
Instead of working on their business (so they can grow it) they spend all their time trying to manage and run their business. That’s probably the # 1 reason most small businesses fail.
You need to focus on tasks that generate revenue for your business, or grow your business. Even if you are on a limited budget, you MUST delegate the non-productive tasks, or do them during your non-productive time. Otherwise, you won’t get the results that you could get.
Here is my challenge to you: Make a list of how you spend most of your time in your business on a daily basis. Take out a pen and paper and write down each activity you did today and how much time you spent on each activity. Evaluate how you spend your time. If necessary, change how you spend your time each day.
Whatever you do, don't spend your $100 per hour time on $5 per hour tasks.
What are your thoughts? Leave a comment below to let me know what you think. I look forward to hearing from you.
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