3 “Aren’t-I-Smart” Lies That Kill Your Profits
Posted November 5, 2007 in Productivity
When it comes to lying, there’s nobody more willing to believe us than… well, us. When we’re not doing the best things to move our business forward, we tell ourselves it’s okay, we’re doing great, it’s not that bad… but at the end of the day all that rationalization isn’t building revenue and bagging new customers.
Here’s how to recognize where we’re sweet-talking our way past out problems… and how to fix them for good.
Lie #1: I got a lot of stuff done today!
Sure, you’ve been running around doing a lot of things today… but were they high-value things that move your company (and your revenue) higher? There’s a big difference between activity and accomplishment. One keeps you busy doing stuff… the other keeps you busy watching the cash roll in.
The Solution: Ask yourself if your current actions are going to grow your company or not. If not, pick something that will and do it now … then catch up with that little task later. (Then read David Seah’s rocking article on giving your tasks point values.)
Lie #2: I can improve on (x) later – I need to work now!
If you know you’re doing something inefficiently and you tell yourself you’ll get to improving it later, guess what – you won’t, 9 times out of 10. If you’re too busy to learn how to do something effective now, when are you going to have time to do it later? If you know that 20 hours spent improving your follow-up skills could boost your profits 20%… and you’ve known this for a year now… quit saying you’ll get to it.
The Solution: Schedule those hours in over the next 30 days. Consider it overtime. Consider it smart too – you didn’t get into business to work longer hours – you built it to thrive. And just “working through it” for the time being isn’t being productive, it’s being an enabler. Don’t do this to yourself.
Lie #3: I should be doing (x) myself, because I’ll save money!
Sure, when you’re bootstrapping it you want to do it all yourself, because it’s a powerful way to keep expenses down. But eventually you hit a wall where your time doing business-related activities is actually the bottleneck to higher profits. Think of what you do that brings in the big bucks… and then think of all the little jobs that suck time away (things like accounting, web tech work, whatever isn’t your high-dollar skill). Every hour you spend doing the low-value activities is an hour you can’t bill high. And that sucks.
The Solution: Find a way, any way, to outsource those tasks. If you don’t have money, barter. Do favors. Get creative. Tell yourself there’s a way and you’ll find one. And if all else fails, schedule some overtime to improve your client base so you can afford to do the outsourcing. And if you don’t want to work much overtime, cut out more of that ‘activity’ and hit more cash-generating accomplishment. You’ll thank yourself for it.
Bonus Lie #4: I should click somewhere else instead of leaving a comment!
Don’t fall for this one – stop right where you are. Ask yourself – are you going to take the 90 seconds you spent reading/skimming this article and make it “activity”… or revenue-generating accomplishment? If you click away now, it’s time wasted.
The Solution: If you take just one minute to join the conversation below, and declare one thing you’re going to apply as a result of reading this article, you might just kick your cashflow up a notch. Do it now!
Keep it rocking,
Dave Navarro is all about helping you get more done faster. Pick up your free “More Time” kit at your30hourday.com.
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