I hope you enjoyed the story of my grandmother Edith in last week’s blog (here).
Welcome back to the second in the December series about scorecards and measuring what matters in your business. This week it’s all about where you spend your time!!!
There are 5 essential activities for every business:
- Administrative & Operations
- Sales & Marketing
- Customer Service
- Customer Fulfillment
- Business Growth & Development
If you were my client and you were having trouble with time management and wanting to increase sales, I would probably ask you to rank these 5 activities in order of where they spend your time. Perhaps your rankings might look like this —
- Administrative & operations
- Customer fulfillment (i.e.servicing clients)
- Customer service
- Sales & marketing
- Business growth & development.
Take a moment and rank where you spend your time? Be truthful – where do you spend the majority of your time?
Truth is, that if you want your established business to grow, your goal should be to offload (delegate, hire) everything except business growth and development.
Should I say that again…..?
Business strategist Todd Herman developed the Entrepreneur’s Scorecard and I’ve modified it slightly here to make it easier to learn how & where to spend your time when you want your business to grow & scale.
Download your complimentary copy here now. Feel free to add your specific activities to the columns.
The concept is based on whether activities are valued at $10 an hour, $100 an hour, $1000 an hour or $10,000 an hour – these are just relative terms! But the exercise is certainly worth doing and might just reveal where you might be fooling yourself.
Managing your inbox
Basic customer service
Formatting Blog Posts
Writing blog posts
Writing other content
Customer follow up
Set up automated sequences
Revenue Generating Marketing & Sales
CEO Dates weekly
Building sales campaigns
Writing sales copy
Big Reach New Biz Growth
Teaching a webinar
Creating new programs
The final part of the exercise is this:
Determine what you want your 2020 revenue goal to be ($100,000)
If you plan to work 50 weeks/year, then your ‘goal’ is to reach $2,000 per week with the correct type of activities.
What’s your revenue goal? _____________________
Divide that by the number of weeks you want to work to reach your revenue goal per week.
# of weeks _______________ = $__________ per week
Aim to reach that revenue goal (or higher) by working on the right activities!
As I mentioned, this is the level of support that I offer my clients, especially those in the CEO Mastermind.
If you’re not achieving either the growth you want or the time freedom you want in your current business structure – perhaps it’s time join this mastermind/mentor program where you’ll not only get fresh ideas, but also the business support you need. I’d love to have you be joined by 5 other established business owners – check it out here..
Applications are open until December 24th, 2019. Our first mastermind is January 31st, 2020.
Don’t be fooling yourself that you’re spending your time in the right areas in your business any longer!
PS As we speak, I’m at the CAPS 2019 National Convention getting amazing support from other speakers & coaches so that I too, can up my game in 2020!!!. That’s 3 days of business growth and development!!!
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