The Line Between Success and Failure Can Be Expressed in Five Words
5 March, 2019
5 March, 2019
By Bill Silverman
I read a great anonymous quote recently that I think is important for every business owner to consider: “The great dividing line between success and failure can be expressed in five words: ‘I did not have time.’”
Not having enough time is one of the most common complaints that I hear from business owners. But when I ask owners what they do each day, the most common reply I get is “I do everything!” “Everything” includes things like fighting fires, running supplies to your crews when they need something and a variety of administrative tasks like paying bills and typing estimates. These “everything” activities eat up your day and keep you from doing the things you need to do to grow your business.
To be effective in running your business you need to spend a healthy percentage of your time on important activities that directly impact your business success. Things like planning, marketing, sales, employee development, structuring the work so that it runs smoothly and managing and coaching your team. Do you have enough time in your week to do these activities? I didn’t think so!
So, because much of your time is spent doing things that don’t help make your business more successful, your business and profit growth may slow or stop. And the root cause is that you are spending too much time on low value “everything” activities.
To maximize your impact and return on investment from every hour you spend working, you need to eliminate time you spend on low-value activities (activities that someone lower down the pay scale could do just as well) and use that time instead on the important activities that only you can do to drive your business forward.
“You will never ‘find’ time for anything. If you want time, you must make it.” -Charles Bruxton
Here's an exercise that I use with my clients that I'd like you to do to help you make time for the important work that will make your business better and more successful.
ACTION STEP COMPLETION DATE
Spend time to make time
Do you know the saying “You have to spend money to make money”? Well the same is true for time. Sometimes you have to “Spend time to make time.” This exercise will take a bit of your time, but clients who have completed the entire exercise have “found” 5 to 10 hours a week unproductive time that they’ve been able to redeploy to make their businesses better and have a little more balance in their lives.
I think that’s time well spent! Don’t you?
Bill Silverman is the owner of Springboard Business Coaching. He is dedicated to helping you propel your business to the next level of growth and profit while you work less. He can be reached at (856) 751-1989 or firstname.lastname@example.org.