When starting a business on your own, your most valuable resource is time. Most people will tell you it’s money, however, if you are serious about starting out on your own you will have already put some money away for funding, right?
Therefore money is not an issue for a fledgling business; it will only become an issue if you do not learn to value your time as your most precious resource.
Starting out on your own means wearing many hats, each requiring varying amounts of your time, effort and ability in order to achieve satisfactory outcomes. As the tasks and number of hats add up time will become precious.
There are various choices you can make, after all you are your own boss, do you outsource? Do it yourself? Or invest your time in developing new skills to carry out these tasks yourself? Most likely it will be a mixture of all three.
When I started out on my own I thought I worked hard for my previous employers, I had a good reputation and considered myself to be efficient. As the months rolled by I spent longer and longer working, and yet the money was not rolling in.
There was only one person accountable, that person was Me.
Over time it became clear to me in order to be productive, I had to be efficient; being efficient meant making effective decisions.
I am sure you have read many books that echo this. While this may seem obvious, when it is your valuable time and money on the line, each small decision feels like a mountain to climb. Learning to make effective decisions every hour of every day takes time and practice.
Today I am comfortable with myself as I now drive my own agenda – working weekends is fine, my weeks and weekends are one expanse of time, but having the power and confidence to say no is very empowering because it allows me to say yes to so much more.
Saying no is a powerful tool in your toolbox, being able to say no to yourself is even more empowering. Focusing on your core skills can really accelerate your business, and outsourcing the rest creates space to establish and grow your firm into the successful venture you dream of.
The analogy of paying a junior mechanic £10 per hour, who spends 10 hours stripping your car down only to explain they cannot find the fault. Or paying a highly skilled mechanic £50 per hour, who listens to your car, then makes a minor adjustment, and has you back on the road within the hour still holds true. Focusing on the outcome and not the instant flinch response of spending money wins every time.
This is the time to focus on efficiency: questions such as; how much time can I free up by outsourcing this? How much time will it take and how much opportunity will pass by if I learn it myself right now? Do I need it right now? Do I need it at all? What will happen if I choose to do nothing? How long will it take to get a return on my investment?
I know where my core skills are, I focus relentlessly on them, and continuously develop new ones; I outsource the rest. What services do I offer to my customers? I offer my core skills – I pride myself in bringing the skills and experience I have honed for years to my customers: It is part of who I am.
We make your business model efficient with technology. Consider us as architects for the digital era.