Don’t turn a blind eye to business automation systems. It’s the equivalent of running your business with a paper bag over your head.
There is a great article on Yahoo! Finance from May of 2013 by John Aberle titled Simple Systems for Organizing Your Small Business that I encourage you to go read. What I want to share with you is the opening section of that article which the author subtitled Calculating the Impact of a Minor Problem. This kinda drives the whole idea home.
Let’s imagine there is a small problem in your business that everyone has been putting up with. It wastes approximately 20 minutes per day for each employee that has to deal with this problem.
Systems Thinking – 10 Key Small Business Systems Systems Thinking Audio Version
Even if you are the only employee in your small business, you need to apply systems thinking to the activities that make your business run. It’s important because like a Rube Goldberg machine, every activity within your business has an impact on all the other moving parts. And yes, moving parts are happening throughout your business structure even if you are strictly a service based company.
Systems thinking and change management are integral parts of your small business. Without them, you’re wasting time and making work “hard” when it doesn’t have to be. These systems often require no more than writing down the procedures behind every common activity that happens within your small business. While you as the business owner know how YOU do it, when the time comes to hand off tasks to an employee, they will need direction or they’ll waste time reinventing the wheel and not handle tasks the way you want them DONE.
Multi-tasking is for losers. Multi-Tasking is for LOSERS! Audio Version
That’s right, you heard me. L O S E R S.
Why so harsh today Kalynn, somebody puke in your coffee? No, I’m just tired of repeating the same mistake and my guess is 9 out 10 of you small business owners are doing the same. So the buck stops here.
I’ll tell you a quick story. I was with entrepreneur Joel Comm of Infomedia, Inc a couple of years ago. Joel, if you don’t know him, is the author of The Adsense Code, Click Here to Order, Twitter Power and maybe another book or two, but those are his books on my shelf. Anyway, Joel told a small group of us, there were about 10 of us in the room, that, like many of us, he started his business himself, wearing all the proverbial hats.
That’s the typical journey of nearly all entrepreneurs and small business owners. You start a business because you want to help people, or you’re really really good at something and decide to make it your vocation not just a beloved hobby, or you had an innovative idea that you knew would change an industry or the world at large so you made the leap to business ownership. The story is very familiar for every entrepreneur.
But what Joel told us, and I’ve always kept at the back of my mind, is that every time he reached the decision that it was probably time to hire an employee to take some of the workload, he resisted for a while. Kept trying to take care of it all himself, whether it was not wanting to let go of control, or not knowing what to delegate or worry that the income wasn’t really there to support hiring another person. When he eventually bit the bullet and hired, his revenue ALWAYS, increased as a result.
There is no better way on earth of assuring your success than following the 80 20 rule
The 80 20 rule, also known as the Pareto Principle, is an interesting and proven phenomenon that was discovered by an Italian economist, Vilfredo Pareto, who wrote about his discovery in 1895.
This principle should be a major and standard part of your time management strategy. Yet it amazes me how many people have never heard of the 80 20, or have but don’t bother to put it to use.
Author, entrepreneur and speaker, Brian Tracy, in his well known book, Eat That Frog! calls the 80 20 rule “…one of the most helpful of all concepts of time and life management.” And if Brian Tracy believes it, that’s good enough for me.
But what is the 80 20 rule you ask?