Practical Solutions to Help Business Owners Solve Their 5 Biggest Challenges Part 1
This is the first of five articles that will provide you with actionable solutions to your most pressing challenges and concerns as a business owner. We will provide you with useful tools and resources that can help you actively address the things that keep you up at night. We have researched best practices of the most successful business owners in a specific market and compiled practical advice and tools from business experts.
To help you make the greatest impact with your limited time, we have identified a set of simple, low-cost but highly effective actions you can take to address the first challenge in our series of five:
Leverage Your Time - Leveraging time seems to be the top challenge with most business owners. We have identified resources that will make it easy for you to put in place some simple systems that will help you free up time, reduce your stress level and get your business working harder for you.
Business owners work 50 percent more than employees of large companies. The average business owner holds five "jobs" within his or her own company and many entrepreneurs must invest their time as "sweat equity" because they are funding their own business.
Successful owners have created leverage and found more time to do the things that were most important to them by:
* Understanding how they use their time
* Treating their time as an asset on the balance sheet - not a free resource
* Allocating their time to five most productive activities
Four actions you can take to generate more time:
1. Know your time
2. Structure your time
3. Reallocate your time
4. Put in place systems that help you automate and delegate tasks
Eight things you can do to leverage you time:
1. Keep a journal of how you spend your time in a week
2. Draw a pie graph of how you would ideally spend your time if you could
3. Create job descriptions for the 5+ jobs you do as an owner
4. Fire Yourself from at least one job
5. Create a "not-to-do" list
6. Put a price on your time in terms of dollars per hour
7. Shift more of your time to the five highest ROI activities
8. Create an advisory board that expects a high return on your time
"Owner time is the single most scarce and irreplaceable asset in a business"
Resources to Help You Understand How to Structure, Focus, and Reallocate Your Time
* The 10 Natural Laws of Successful Time and Life Management: Proven Strategies for Increased Productivity and Inner Peace, by Hyrum W. Smith, (Time Warner, 1994)
* The 7 Habits of Highly Effective People, By Stephen R. Covey, (Free Press, 1993)
* The Superman Complex: Achieving the Balance that Leads to Success, by Max Carey (Longstreet Press, 1999)
* The Effective Executive, by Peter Drucker (Harper Business, 1966)
Practical Solutions to Help Business Owners Solve Their 5 Biggest Challenges Part 1 - To learn more about this author, visit Rick and Susan Amato's Website.
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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