Are you looking to grow your business in 2020?
If you answered’ yes’ then you’ve got a winner’s mindset.
But here’s the downside, odds are your competition all said ‘yes’ to the same question.
So, what’s the one thing that can help you overcome your rivals and dominate your local area?
It’s not having the deepest pockets. And it’s not having the latest tech. It’s not even having the best product (though your product should help solve a problem in your customer’s lives).
No, the thing you need to start doing to become successful is…
Why time is more valuable than money
Too many business owners think they have to do everything themselves. After all, who knows your own business better than you?
The painful truth is that doing everything yourself may feel like you’re saving on overheads – but it’s actually costing you so much more.
How much time are you losing by trying to do EVERYTHING?
When you answer the phone, reply to emails, provide quotes, chase up leads AND market yourself…you end up spinning your wheels and going nowhere. Still, too many people think saving time means they’re making the right choice.
When really, time is what holds value…not money.
Think of it this way. How much money did you spend on your laptop? Hundreds? Maybe even thousands?
That probably felt like a lot when you handed over the cash.
Now, how many hours have you spent on that same laptop?
Thousands? Tens of thousands? Suddenly, the price you paid becomes a steal for the endless amount of time you’ve spent using your laptop.
What this simple example shows is that time, not money, creates value.
How do I create more time in my business?
The simplest way to gain more time – and that’s time you can invest back in your business or invest in yourself – is to start delegating.
This has a triple effect.
- It creates a sense of responsibility in your team and creates more engaged workers. This breeds a culture of success.
- It frees up time and reduces the feeling of stress at having to do everything. This improves your quality of life.
- It turns your one-man band business into a system that becomes semi-automated. This means you can scale up while still having time off.
While not every business can realistically delegate everything, you should look to outsource tasks that are holding you back from growing.
Follow the Pareto Principle – 80% of your results will come from 20% of your actions.
If you’re wasting time on actions that aren’t returning results, start delegating.
When should I delegate?
The simplest way to know when to delegate is to follow the 5 T’s.
Always delegate a task if it:
- Or, you’re Terrible at it.
You can’t grow a successful business on your own. You need a team.
So, start delegating if you want to be successful in 2020.
Hate reading too much text? No worries!
That’s why I’ve created this simple video that will help you delegate the smaller tasks while you focus on growing your business.
Business & Finance Articles on Business 2 Community