Of the following three people which one are you? Are you the one who loves to do the work, the one who loves organizing things making sure the machine is well oiled, or are you the visionary always thinking of new ideas to take your business to the next level?
As a business owner
The truth is, when it comes to your business you’re actually all three. The problem is as the business owner you can only be one of them and that’s the visionary.
The E-Myth
Michael Gerber in his book, The E-Myth, describes these personalities as the Technician (T), the Manager (M) and the Entrepreneur (E). Personally, I’m the manager. I’m always creating systems to make the business run efficiently. My problem is that I suck at sales and sometimes the systems I spend hours creating procedures don’t need to be made. All of us have to remember that the moment you opened your doors your primary role is to be the Entrepreneur.
Growing your business
Your job is to make jobs for everyone else. While that may sound counterintuitive, focusing all your time on growing your business gives you a large enough cash flow to solve many problems. That was one thing I realized when I worked in advertising. If you have enough money you can find someone to do it.
Naturally, the question comes up, “But I love what I do. I just want to do it for myself rather than someone else.” Or you may say, “I hate selling.” You’ll say that until you realize it’s make a sale or miss a payment. Here are a few suggestions to make sure you’re focusing on the work of the entrepreneur.
Journal Your Tasks
Similar to a food log, write down all the tasks you do during the week. On each task mark the letter: T, M or E. You’ll see where most of your time is spent. During this time you’ll have to ask yourself why you spend more hours in one role more than others.
Transition Option 1: Hire
If you most of your time is spent in any role other than E then you need to hire someone else to do it. You’re going to be paying them less than your hourly rate anyway (see article, “Do You Need to be Fired?”). Create a training system that allows someone to do your job as good as you (well at least 80% good). Now you’ve gained hours to devote to growing your business. Here’s a tip—your hire can be a remote worker. It costs less and gains a lot.
Transition Option 2: Segment
If you’re not making enough to hire someone, then you need to segment your time. Pick specific days where all your time is devoted to a specific role. This way you’re ensuring you spend time growing your business. Do this until you can hire someone to fill that role. I spend most of my week doing T and M tasks, but late evening and all day Friday is time I spend on E tasks.
Truth is, running a business isn’t for everyone. If you have one you need to make sure you’re focusing your time on the right tasks—tasks that allow you to get bigger doors. Until next time I wish you much success turning your business into an amazing brand.
