Wednesday 19 October 2011

Cash rich, but time poor

Are you too busy making money to have the time to enjoy it? I meet a lot of business people in the work I do. Some are really successful. A lot are doing OK, making money but working really long hours and usuallly 6 days a week.

 if you're continually tired it’s difficult to keep your momentum going. You may unknowingly give your customer poor service. And sometimes you might think ‘what's the point!

Your health may suffer as you don't have the time to look after yourself. Relationships with family and friends may suffer as you are short-tempered and resentful of the demands they make. Your business may suffer as you spend most of your time working ‘in’ the business leaving no time for planning for the future.

Successful business people do at least 5 key things to create a business that delivers them great results. Just think how it would feel having more energy, having the time to exercise and eat healthily, having the time spend with family and friends in a relaxed manner.

So what are the 5 keys?

1.      Get your price right
If you don’t charge enough you will never make enough profit and you wil spend your time just trying to keep up with your work

2.      Delegate or outsource
You can’t do everything so don’t try. Why spend the time learning how to use book-keeping software when you could be marketing or meeting prospects?

3.      Differentiate yourself from your competition
Your customers will only choose you on price if there’s nothing that differentiates you from your competitors. Know what makes you special (in the eyes of your customers, not your mum!)

4.      Know who your customers are
Not everyone is your customer so you need to pick who you want. This will dictate everything you do in your business

5.      Measure what’s important in your buisness
Don’t leave it to chance. Decide what measures are important to your business and look at these regularly (and by that I mean monthly)

If you would like a free copy of my e-book ‘7 Mistakes Small Business Owners Unwittingly Make…. and how to avoid them’ then email gloria@murrayassoc.co.uk

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