They say to be successful you need to work harder; that free time is a luxury you can enjoy in your retirement; moreover, that you can’t have your cake and eat it too. We disagree. Nonetheless, there are many entrepreneurs feeling overwhelmed by their entrepreneurial endeavours. And true, many business owners have gone through an overwhelming struggle before reaching success. However, it’s possible to work less, and still grow your 7-figure business. Yes, you can have your cake and eat it too!
Ask yourself “why can’t I”?
Your first step is to identify all the high-level tasks that aid in growing your business. On those tasks your attention is critical – however, we have put together a 5-step system for smart entrepreneurs to work less, while still achieving greater business growth.
Step 1 – Identify your 20%
Based on the 80/20 principle (the Pareto principle), 80% of your results are due to 20% of your direct efforts. Therefore, what you need to do first is to identify what comprises your 20% direct effort which drives 80% of your business revenue.
What tasks do you complete daily which bring you in the most money? Here you can also question which clients fall into your 20% group of top clients, thereafter spending your energy on them. Nevertheless, take note of the amount of time spent on quotidian tasks. Once you have done this, the key is to focus on the 20% − so you can gain more wealth.
Step 2 – Cut out the time-wasting tasks
Some entrepreneurs believe that they have to do everything personally. Rather, say to yourself – can I have help with this? – and the answer is yes! What you need to do is to offboard the tasks that are wasting your value time. These low-level tasks include checking emails, managing social media pages, taking calls, and more. Such tasks can easily be taken over by an assistant − they can be outsourced. A virtual assistant can manage mundane and repetitive chores for you. That said, you can also set up a frequently-asked question list, which the virtual assistant can use to adopt the tone of voice that you would use were you to reply yourself.
Step 3 – Automate what you can
Even though it’s not possible to automate all your tasks effectively, you should automate what you can. You should automate any impersonal tasks. Automation examples would include auto responders; and setting up a drip email campaign for new sign-ups to your website. Also, you can use scheduling tools to take your social media content live in the future. What these auto-replies will do is help you to engage more with your clients.
Step 4 – Delegate the rest
For a solo entrepreneur delegation could be seen as strange or unnecessary; however, as you scale, you need the best staff to help you onto the next level. More so, the low-level tasks you identified in Step 2 may be delegated tasks that you can’t automate. A virtual assistant will help you to complete your data-entry tasks, manage your email inbox, and your social media pages. An affordable virtual assistant can be hired to free up your time by completing all essential yet frustratingly mindless tasks. Doing this can save you 5 – 10 hours weekly.
Step 5 – Observe and then adjust
Throughout the process, you need to evaluate and then also re-evaluate your decisions every four weeks to gauge whether you are reaping the appropriate rewards. Soon you will notice that you are growing faster, and working less. So, you can have your cake and eat it too!