Your Time & Your Profit
I run courses, send emails, post social engagement about saving time & productivity. I often hear people say ‘Oh, I would love more time to do…., but I’m overwhelmed, there’s no chance to stop.’ The most common reason they don’t attend – they didn’t have time! Funny Yes? – No! You are in Business for yourself to have flexibility and freedom, so why are you tied to your office or phone 24/7? Excellent Customer Service is one thing, but not at the expense of yourself.
Here are just over 20 ways use your time better and improve your business profitability. Time is, after all, Money. Sound Good?
- Unplug from the Phone – 10 years since the launch of the iPhone. People feel they have no time, and will be on their phone even when standing in line waiting for a coffee. You get no feeling of free time as you are always connected. Don’t be a slave to Mr Jobs – Be engaged in what you are doing.
- 80/20 Your Products/Services – Find the 20% of products or services that bring in the most income and cut back on the 80% that provide minimal gain.
- 80/20 Your Activities – Take a hard look at your daily activities and determine which ones are productive and growing your business and which should be reduced or eliminated.
- 80/20 Your Clients – Then take the time to determine which of your clients are producing the most revenue and target your marketing efforts to reach them – and more like them.
- Trash the Wasters – Who isn’t making you money or doesn’t have growth potential? These are usually your biggest time crushes, complainers, and late payers. The ones you dread when the phone rings or email arrives. Cut them loose NOW, even if you have to lose money to do it. Spend that time finding Group #1 customers
- 90 Minutes – Spend 90 minutes of focussed time every day on the important things that move your forward. Some examples are: Marketing content, Email campaign, New products, Adverts, Testimonials, Promotions, Analytics (marketing, clients or financial), Creating Headlines, your Website, Contacting old customers, Scripting a webinar.
- Habits and routines – What habits or routines do you have already, and what others do you need. Add one to the other. If you have a good ‘at morning’ routine – add something else in. If you don’t have a routine create one.
- Create transition rituals – Even if you are working from home don’t work in your slippers and onesie – you won’t be in ‘work mode’ and no one around you will think you are either. Think of what gives you that ‘in work’ feeling, it may be the clothes you wear, a dash of makeup, or those killer heels. Put them on when you start work, and change out of them when you finish. Mentally and Physically engage and disengage when you work. It could be planning the next day, closing the computer or a bit of meditation. Whatever works for you.
- Follow the correct path – It is no good if you keep on being busy if it is on the wrong things. You need to make sure you are on the correct road, and continue to focus on that path. If not then you need to turn around.
- Implement something new – Determine each day to implement something new into your business. Do it first thing in the morning, before you get caught up in emails, phone calls and social media, and other people’s agends. Take new actions while you are at your sharpest.
- Make a List – Do it at the end of your day, and check it at night before bed to set your intentions to take action as soon as you start your day. Don’t just have long list. If there is lots to do then have a master list and choose 3-5 for the day. You can always add more if you finish.
- Keep moving forward – Adopt a personal resolve to move forward regardless of what obstacles or challenges may arise. Don’t wear down yourself over-thinking all the details, or problems that may (or more likely may not) happen. This only leads to overwhelm. Instead take action and adjust along the way if needed. You can literally be sitting on money waiting for more clarity – Just go and do it!
- Focus on your Values – Do what’s most important to you. Don’t fill your time with non-essential things that don’t contribute any real value to your quality of life, your ability to help others, or to your business cash flow. Your time is valuable, use it wisely.
- Upselling & Adding Value – Increase sales and try up selling. Find your equivalent of ‘Do you want fries with that?’. What products or services could you add. It may be a collaboration with someone else that provides the answer.
- Plans, Retainers & Memberships – Use a Sales model that gets customers coming back to you — offering monthly or yearly service plans, or a bundle of visits at a discounted price. Consider a Membership or use Retainers with a Client. This not only gives them a set amount to budget each time, but also a smoother cash-flow for you.
- Marketing – Have an idea of what marketing techniques work the best for you. Monitor exactly what works and makes the highest profit return (not necessarily the most sales). Concentrate your marketing on those methods while discontinuing those that have shown minimal results.
- Manage Stock – Know what is selling and what you can do without. Renegotiate terms and rates with your suppliers. This could include utilities, insurances, even stationery. A 5% reduction in operating costs could be the equivalent of a 30% increase in sales.
- Eliminate waste – Use the LEAN concept of identifying waste and eliminating it. Scrutinise your expenses and look for opportunities to simplify and standardise your processes.
- Automation – Use tech to automate and eliminate administrative work, which reduces costs. Use an Appointment Scheduler to allow people to self-book calls and appointments. Create template emails and autoresponders to save time on keeping the contact regular.
- Go paperless – It’s good for the environment, and makes things a lot cheaper. Even if you can’t eliminate it completely, making a concentrated effort to cut down means less, printer toner, maintenance, binders and storage cabinets. Use an app such as Evernote and you can also keep it all in one place and easily accessible wherever you are.
- Get help – Have a mentor, coach, or buddy. Someone to keep you accountable when things get difficult or you get side-tracked. If you find it difficult – be accountable to me. Let me be your Jiminy Cricket. What would I say if I saw how you used your time? – The Conscience on your shoulder.
So, there you have it – 21 one ways to use your time for effectively and improve your profits too – Just don’t tell me you didn’t have the time.
TEDx Talks Folkestone
I mentioned TED Talks last week as a great source of inspiration and knowledge on a vast range of subjects. In May, a TEDx Talk event was held in Folkestone. Have a look at some of the local speakers – you may even see some you recognise.
If you have any TED Talks etc. that you have enjoyed and that have inspired you, send me a link so I can share it here.
10:00am – 1:00pm – The Centre-Mind Body Spirit (next to the Medway M2 services)
Life Skills, Sleep & Wellness – Tuesday 25th July – Not sleeping well can have a devastating effect on your life, from lowered concentration levels, falling asleep at work or even worse falling asleep while driving. Whatever is keeping you awake at night, your snoring partner, over active brain or a host of physical factors, Deborah can help. This workshop will teach you everything you need to know about lack of sleep, it’s causes and effects, and most importantly, how to change your night to refresh and restore you leaving you raring to go in the morning.
Other workshops over the next few months will cover Productivity & Finance.
Workshops are open to members and guests – & not just women 🙂
Book your place now. Links are below.
Ashford-Folkestone – 4th August, Note New Location >>>Westenhanger Castle – Relaunching at our new venue. Further details soon
* Sponsored by Westenhanger Castle, Wedding, Meetings & Conferences,
Maidstone-Medway – 14th July, *Note Change of Location* The Centre – Mind Body Sprit, Moto Services, M2 London Bound – Learn Session: Barbara Luna, Customer Experience – Your Competitive Edge
* Sponsored by The Centre – Mind Body Sprit, Workshops, Healing, Therapies
Faversham – 20th July, Judd’s Folly – Learn Session: Jane Lowther, Creating your Business Wardrobe
* Sponsored by Judds Folly, Hotel, Restaurant & Wedding Venue
Meetings run from 9:30 (For networking) – 12:00
Book Now:We are currently not running any meetings, for further details see our facebook page
Have a good weekend
Amanda & The Metis Women Team