In the steps below I am going to share with you some tips that will help with productivity. The benefits of following these steps are you will feel more in control and less stressed. The purpose of this drill is to bring awareness and clarity to your professional career. This will feel uncomfortable at first and counterintuitive but once you see the results you will be a believer.
Step 1- Identify the highest impact activities that increase your revenue in your business. This is usually only 1-3 things maximum. We are wanting really high leverage points here to get the best and most efficient results
Step 2- Identify and list out all of the other activities that are going on in your business that must happen in order for your business to function. Be very detailed here.
Step 3- based on the 1-3 things that you have identified in step 1 assign a dollar per hour amount to each of those activities. For example, a face to face meeting with a potential buyer could be worth $700- $1000 per hour
Step 4- based on the activities that you listed in step 2 assign a dollar per hour amount of what those activities are worth. For example running errands could be worth $10 per hour
Step 5- identify and do the math of how much of your time you are really spending doing "other activities" versus the 1-3 things that bring maximum value.
Step 6- calculate how much money you are losing and how much time you are really wasting by not focusing on your high value tasks.
For example for every hour you do errands which is worth $10 per hour you are missing out on $700 per hour working with a client.
Therefore if you are doing 35 hours per week of running errands and only 5 hours per week of meeting with clients you are really losing $24,150 per week.
$700 x 35 hours = $24,500
$10 x 35 hours = $350
Keep in mind just because you are not seeing it come out of your bank account does not mean that it is not costing you because time and money are correlated!
Step 7- write down a rollout plan on how you intend to eventually completely focus all of your time on the highest value tasks!!
Step 8- write down benchmarks on when you will have those goals completed so you know how to track your progress.
Step 9- print out your plan and stick it somewhere you can see it everyday so you know what your goals are and how you will measure them to stay focused.
Read my blog post on simple mathematical equations to calculate how well your marketing is doing!