Lesson from Dad: I know you worked hard today, but did you make any money

Consulting

Friday, 28 June 2013

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My dad, as you might have figured out, is my best friend. He and I talk nearly everyday about nearly everything - business that is. Despite being my best friend there are still some things don't want to discuss with dad.

The other day I called and he followed the normal, tell me something good with "I know you worked hard today but did you make any money."

That got me thinking about the busy work we sometimes find ourselves engaging in. For me it may be avoidance of a more difficult task to work on something that could be delegated or is simply just more fun.

If you have ever gotten to the end of the day and feel you have nothing to show for it, you know what I mean.

As small business owners there is the constant balance between working on the business versus in the business. While we can do it all, the question is should we? The answer is: No.

So, how to make sure that you're hard work is the right work? You can start by identifying which activities make you money, which activities don't make you money but are necessary, and where you can get help.

Identify which activities make you money

You have a good idea of what makes you money, right?! A website, a graphic design piece, a marketing plan, etc. and all of the activities that go into creating them are revenue generating activities that grow your business.

Identify which activities don't make you money but are necessary

Updating client files, continuing education, infrastructure updates, and other behind the scene tasks help to keep the money making tasks humming along.

Get Help

There is a certain level of pride in knowing that you can do everything in your business. There is also a certain level of ..um… stupidity in doing them all yourself. Hear me out… I am a big offender here, myself. I have the ability to do everything in Danico. However, when I don't delegate, beg, barter, or hire out, I find myself working nonstop and wondering why I'm so tired. That is until, I realize (palm, forehead, hit) that I could use some help.

Start by identifying resources you have available and what tasks you could hand over. For example, this summer maybe you have a relative who has a few hours to spare to answer phones or make calls. For ongoing support, someone who specializes in a particular area, for instance an accountant or project manager maybe should be added to resource list.

So what did I tell my dad? Of course I told him I was making money! That's what dad's want to hear, right?! Seriously though, I took my own advice. A relative is helping with admin work, plus I have bartered and hired out tasks. I still oversee everything but no longer work nonstop.

How would you answer the question: I know you worked hard today, but did you make any money?

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Lesson from Dad: I know you worked hard today, but did you make any money

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