TC: TASK REVIEW
What takes up your time? The work you do during a normal day or week in your business should have a dollar value placed by the type of work. Your challenge this week to evaluate how you spend your time and to place a dollar value to each task.
Starting at the low end, place a $10 per hour value for such tasks as cleaning our office, sending out a mailing, working on your social media and website, attending meetings, making cold calls and gong to the store to buy office supplies. These low level tasks are non-income producing but are very time consuming.
The next level of tasks may be worth $75 per hour. Such tasks may include: writing an e-mail to a prospect or solving a problem for a customer,
A third level we may peg at $1,000 per hour. This may include such things as making a group presentation on your product/service, developing new ideas in such areas as product content, and marketing, and selling your product/service to high potential customers and groups.
Develop a three column chart and mark each column as $10/hour, $75/hour, or $1,000/hour. Draw at least 12 lines so that you have twelve boxes under each heading. For the next week fill in each appropriate column for every task you perform.
If you are like many small business owners, your $10 column will take most of your time. If, in fact, you feel that by working in the $75/hour or $1,000/hour you can create that revenue, then hire someone to do the $10 per hour work. Your goal, and it should not be a “sometime in the future goal”, should be to spend the majority of your time in the $1,000/hour column. Neither the $10/hour nor the $75/hour will ever take your business to a sustainable level. If your work in the highest level column you can afford to hire the $10 an hour person now
I challenge you to add a fourth column with a $5,000/hour heading; I am sure you will discover what will fit in that column.
Like all the Tuesday Challenges, they have to implemented and have to become part of your ongoing business culture.
Sometimes you will never know the value of a moment, until it becomes a memory. Dr. Seuss
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