Where are you spending your time?
Most small business owners get hyper focused on not having enough financial resources to run their businesses. They often forget that a more valuable resource than money is their time and the time of their employees.
In our crazy busy culture, we default to responding to the flood of emails in our inbox or attacking a growing list of tasks that present themselves each day. In my opinion, how we spend our time in a small business is more critical than the financial resources we possess. Time is limited – there are only 24 hours/day, 7 days/week and 365 days/year. We can only accomplish so much in a given year. Small business owners should give some strategic thought to where they spend their time. Similar to evaluating ROI on financial resources, small businesses should also evaluate the ROI on their investment of time.
A strategic and logical approach to where owners and employees spend their time and energy can lead to sustainability of profits. It is difficult to step out of the day-to-day and determine where time and energy should be spent. Invite an outsider in, whether a paid consultant or a qualified friend, to help you evaluate where you should be spending your time and energy to maximize the success of your enterprise.