As business owners, we often have a lot on our plates. Some of us are not only business owners, but we are parents and spouses among other things. We have many roles that we take on and each of these roles has its own list of medial tasks. And guess what? It takes time to do each task! But how much time does it take? Think of your daily schedule. As an entrepreneur, we usually don't work a set schedule. We work as needed, often more than eight hours a day. We may work for 16-18 hours a day if we include our business and the tasks of our other roles. If you offer a service or product, how much is one hour of your time worth? On the low end, I can valuate an hour of my time at $75. As a person who works from home, I used to think that I was saving money by doing everything myself. Then I realized that in doing everything myself, I was wearing myself out and not having the energy to do the major things that I needed to do in order to make money. So in a sense, I was losing money.
Yes my house was clean, the laundry was done, that database was created and emails were sent out, but I was dog tired and struggling to complete jobs. I was NOT using my time and resources wisely. I had to change my thinking (and my husband's thinking- he always said that he was not going to pay someone to do something that he could do himself). So when I look at chores around my house or administrative tasks that can be time consuming, I have to decide if I would rather be working and earning at least $75 per hour or if I would rather outsource the job. If my time is worth $75 per hour and it takes 3 hours to clean my house, I have just missed out on $225. However, if I paid a cleaning service to clean my house (they charge $85 for regular customers), I actually net $140 for that same 3 hours that I would have spent cleaning. Outsourcing the job and being able to work with a clear mind and not be tired actually allowed me to still make money and get the chore done. This is just one example of outsourcing.
Take a look at your daily schedule and see where you can be working and earning money as opposed to completing tiresome tasks. Don't be afraid to outsource or pay a fee for someone else to complete those smaller tasks for you so that you can focus on the bigger (money-making) things that need to be done. If you need help getting started, don't hesitate to contact Kimestry Koaching! We offer a free initial strategy session to help you get started in getting your business organized and more profitable.
As always, if you have a specific question or topic that you would like addressed, please email kimestrykoaching@yahoo.com.
Power and success in 2014 and beyond!
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