Sometimes, the things that take up most of our time aren’t the projects that make money for our business. We get lost in side projects and daily processes instead of actually growing our business. I know I’m guilty of this too, which is why I created a two-step method to tell when I’ve fallen into this trap.
First, you’ll want to write up a list of what takes up most of my time in a week. Then take a step back and make a second list of what makes money for your organization. Time spent approving something, signing documents, or emailing business partners probably isn’t making you much money. These support your operations, but for your second list, you only want to include things that are directly putting money in your business’ hands.
Once you’ve got both of your lists, compare them. If you see a lot of overlap, congratulations. You’re probably using your time fairly effectively. But if you’re noticing a substantial difference in your lists, then either you’ve been sucked into processes that don’t generate real value for your business, or you’re afraid to delegate less-important tasks to other people.
The good news is that either of these issues is easy to get over. You can change your processes, hand off work to other people, or do anything else to make sure the important work gets done. The important thing is making sure that your list of money-makers is consistently getting the time and effort it needs. That’s how you generate more revenue and grow your business.
There’s no shame in needing some outside help to figure out where your time should be going. At the end of the day, it’s in your best interest to invest time in the things that make money for your business. However you need to go about doing that, accomplishing that goal should be your first priority.