Small business owners are among the hardest-working people in the country. They get in early and stay late, handle every business detail and bend over backwards to meet and exceed the needs of their clients and customers. On the surface, these traits are admirable. But they can also stifle the future of your company. Here are five habits to kill so that you can work smarter, instead of harder, and maximize your success.
When you turn your computer off at the end of each day, it re-starts completely fresh in the morning. When you don’t, it starts to work sluggishly and sometimes, it even crashes. Don’t you think that your mind needs the same break? A little R&R (and a good night’s sleep) gives your brain a chance to process the previous day’s events. And, since it’s not uncommon to go to sleep with an unsolved problem and wake up with the solution, you can sleep guilt-free, knowing that you may continue to work after you hit the sack. Even just taking some time to exercise, watch television or engage in a hobby allows you to be your best self and in turn, that makes you better in your business.
With cash-flow a common issue for small business owners, it’s tempting to chase every dollar. Granted, you’ll get a quick hundred bucks now if you take on a two-day special project for a client. But, those two days might be better spent going on sales calls to acquire new business or starting a large project that will realize major income, even if you won’t see it until next month. Or perhaps you have a temporary solution to a business issue that doesn’t take into account future issues that the new solution might cause to your customers. Don’t just think about today; be focused on your ultimate goals.
Doing Everything Yourself
Most entrepreneurs wear all hats in the early days of their businesses, but during times of growth, they have to learn to let go of the daily minutiae. At some point, you need to outsource or delegate, even if you don’t think others can handle every task as brilliantly as you do it. You definitely should continue to monitor the progress of all business operations, but let your employees, contractors and/or service providers do things in the ways that they are comfortable while you focus on the aspects of your business where you can add the most value and be best utilized.
Addressing the “Urgent” Rather than the “Important”
The squeaky wheel may get the grease, but a wheel might make no noise before falling off of the car. So, even though Customer A is yelling the loudest — or yelled most recently — Customer B (or even a new customer that you are courting) may have more important issues.
Your job is to correctly prioritize every task and stick to your decisions. If newer issues are more important than others on your to-do list, place them higher on the list. This simple method allows the most trivial issues to naturally fall to the bottom of the list (which, by the way, might help identify great tasks to delegate).
Being a “Yes Man” (or Woman)
Every business owner needs to learn how to say “no.” You can only take on so many projects at once. You can lose your reputation and clients if you have to cut so many corners that you turn out less-than-stellar products or services. Before taking on new work, remind yourself of your end goals as a business and use those goals as your litmus test. If you’re already short on time and responding to a request does not further those goals, you need to turn it down.
Let your business habits match your business cycle. The habits that served you in the early days of your business do not necessarily make sense as your company becomes more mature. Don’t be constrained by the “I’ve always done it this way” attitude. Take a little time to determine the best ways to use your time and resources to take care of your business and yourself.