Forget about sales, customer support, hiring people, or anything else for a minute.
The number one problem that business owners complain to me about is lack of time.
They get themselves into a hustle mentality and even if that works in the early stages of business, or long term if it’s done in a sprint-mode (hustling for 2 weeks or a month to get a project off the ground, then taking it slow for a few weeks, then hitting the gas again)… if you’re stuck in hustle mode it’s going to hurt.
And it will hit you everywhere – mental, physical, spiritual.
The idea of enjoying life goes out of the window and you’re left with an overwhelming feeling of anxiety and stress because it feels like there’s no escape from this.
Even though it sounds dramatic, it’s more common than you might think.
I would be willing to bet that every single entrepreneur faces this at least once in their life, and about 60% of entrepreneurs can’t find a way to escape it.
They built a business that acts as a personal prison, because the very moment they leave or take a step back… things start to fall.
Revenue drops, projects don’t get finished, etc.
It’s a tough spot to be in – where your own creation is the center of so many problems in your life.
But enough about what can go wrong. Let’s talk about what you can do to fix it.
There are 2 things that you can start doing immediately to get out of this situation:
I don’t want to go in-depth into delegation, because I have another post planned where I’ll share the methods I use to delegate tasks efficiently.
Today I want to talk about restructuring work for yourself.
From my experience, only a small percentage of owners analyze their time down to the very minute.
Most have no clue where or how they used their time… at least not specifically. They might have a vague idea like “I worked on Project Z yesterday”, but that’s it.
Well, after having our clients go through our analysis and restructuring system, 9 out of 10 wasted up to 70% of their time.
Overall, not even half of their time was bringing real value to the company.
So if that’s something you might be dealing with, here’s the solution:
→ Use the P.A.C.E Calculator to analyse and restructure your time.
It’s a way to track your time and then separate it into 4 brackets – Plan / Assign / Choose / Execute.
Anything that doesn’t fit in those is a distraction.
PLAN – strategy meetings, research, business coaching, etc.
ASSIGN – Writing and sending out project briefs, Recording videos to explain a process, etc.
CHOOSE – Reviewing tasks that have been done, Deciding on who to hire next, Answering questions from the team, etc.
EXECUTE – Onboarding a new client, Creating content, Providing a service, etc.
This needs to be done every single day.
In the beginning, it will feel weird to track your life, but soon you’ll find out exactly where you’re losing time, and what you should focus more on.
1 month from starting this process you’ll have new habits in place and you’ll work a lot less than you used to… if that’s something you want.
Let me know if this helps and if you want access to the actual calculator we use so you can just input data and get the exact % of the time you’re spending in each bracket.
That’s it for part 1 of the series.
Next time I’ll speak about productivity, and how to make the most out of every second you have.
I have a few cool tricks that help me run a team of 30+ people, while having plenty of time for myself.
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