Scale your business by eliminating Low Value Time

In order to scale your time, we have seen from the discussion on wasted time, that you first need to value your time.

Once you value your time, you will stop wasting so much of it.

The other interesting transformation which will happen is that you will start to assess the value of the tasks you spend your time on.

In a level one business you must do everything yourself and so it doesn’t really matter how much you value your time the reality is you don’t have anyone else in the business to do what must be done.

That is why you do it. Similarly, however that’s why you don’t want your business to remain at level one.

This is a common trap that many professional practitioners fall into.

They are going to a professional practice thinking that doing so will give them higher levels of freedom, control and reward than if they had simply got a job.

The problem is that before long the control becomes ingrained and they start to value control over freedom.

The irony is that this approach gives you neither.

In order to get that control back you have to learn what is the highest and best use of your time.

Low value tasks are those tasks which can be easily outsourced or delegated and which on an objective assessment will cost you less to delegate or outsource in the value of your time.

Learn what is the highest and best use of your time.

Low value tasks are those tasks which can be easily outsourced or delegated and which on an objective assessment will cost you less to delegate or outsource in the value of your time.

For example, if you can earn $100 an hour in your business then any task within your business which can be outsourced for delegated for 25 or $30 an hour should be done so immediately.

Often the logic of this is irrefutable but it is just taking that leap of faith to let go that is the barrier.

When my business was at level one stage my wife who later became a business partner used to do all of our bookkeeping and even though we knew that paying a bookkeeper $90 an hour would free her up to earn revenue at a much higher rate than that there was this great trepidation about letting go of managing the accounts for the business.

I have seen this time and time again in level one businesses and professional practices where the business owner simply can’t bring themselves to let go thinking that letting go of control exposes them to a whole range of unnecessary risk.

This is where you must understand the difference between control and controls.

What you want to have in your business is a series of controls so that when you let go of things such as accounts there are structures systems and processes in place to bring any issues to your attention.

Having controls, checks and balances in areas such as your accounting will mean that you can immediately mitigate the risk of being ripped off by some unscrupulous person.