RSS

Tag Archives: Entrepreneur

Have You Fallen Into the Deadly Trap of Time Management?

time trap

We devote so much time and energy to improving our time management. There are websites, blogs, educational programs and entire shelves in bookstores dedicated to this very topic. After all, time management is the “holy grail” of happiness and success, right? We think it’s what allows us to do it all and do it well, take on more projects, get that raise and provide for our family. But what I’ve recently come to find is that the entire concept of time management is one big lie.

Controlling time, by any means, is simply not possible. There are things we do to make ourselves feel like we are in control. These things, like waking up early, working faster, skipping lunch breaks and staying up late may insulate our happy little bubble of managed time, but there are no more hours in our day and everything comes at the sacrifice of something else.

Technology has only aggravated this problem by making us feel like we can be ever more efficient with our time by being hyper-connected and multitasking every hour of the day. We think that if we can get more done today, that tomorrow will be less hectic, that tomorrow we will have time for our hobbies, that tomorrow we will be less stressed and more happy. But tomorrow is a moving target and every day is just as busy as the one before because we simply aren’t able to manage time.

Don’t believe me? Here are a few of life’s truths that have helped me to recognize the deadly traps of time management:

We can’t manage time; we can only manage ourselves regarding time.

As I said before, time management is a lie. We can’t manage time; we can only manage ourselves regarding time. We aren’t in control of time, but we are in control of our actions. How we choose to use the time we’ve been given every day is the most critical decision we have to make with our lives.

Rather than missing the forest for the trees by worrying about how we can answer more emails in a day, worry about why we even want to be answering so many emails in a day. Look at the bigger picture of your life and begin to prioritize what will matter most in the grand meaning of your existence.

You don’t “have” to do anything.

Another one of time management’s deadly traps is overwhelming ourselves with everything we “have” to do in a day. When I looked back at my Google calendar from a year ago, it’s interesting to see everything I packed into my schedule and marked with a star as a “must do” task.

What would have happened if I simply didn’t get to it that day, that week, ever? Minor consequences, if any. I have to constantly resist creating additional and unnecessary pressure in my life. We all do. If you feel like there is so much you “have” to get done today that you can’t meet a friend for lunch or take off an hour early to see your son’s soccer game, closely evaluate these tasks again and you’ll be surprised as to how this new mindset will show you how things can – and will – wait.

You will never have more time.

No one is able to “make time,” they must prioritize. We all have the same number of seconds every day so when someone says they’ll try and make time for that tomorrow, you know that it’s simply not a priority.

Another trap is saying you will take on a task when you have more time. You will never have more time. You must either do less or do it faster to make room for something else in your life. Again, it comes down to priorities.

It will never take just a minute…half hour…hour.

This time management trap is one of the most subtle and therefore extremely sneaky. It’s being unrealistic with how long it will take you to complete a task. We begin our busy day with a task list orchestrated by the minute only to find that we are constantly falling behind and chronically late. Does this sound familiar? It’s likely because you think a task will take half the time that it actually requires and so you overbook your day and scramble to get back on track. This is a frustrating and stressful life to live.

Start tracking the time it takes you to do common tasks to gain a better sense for how much time they require. This will help you to manage yourself regarding time.

Only in very rare instances does something have to be done “now.”

This final time management trap is the one that really gets under my skin because it’s the result of someone else trying to manage your time for you. Your boss, co-worker or spouse asks you to do something and insists it has to be done right now. Does this sound familiar? We all know that person who feels like everything they have going on is urgent and you should drop everything you’re doing to make it a priority. Yet, once we do complete the task, they don’t even touch it until the next day, or week, or at all.

Don’t get caught up in someone else’s urgent trivialities. It’s a power game and their effort to control you since they likely feel out of control with other aspects of their life. Directly question if it truly is something urgent; make them justify it. Then, push back. Let them know you have other things going on and matter of factly state that it cannot be completed until next week. I always say that if everything is urgent, then nothing is urgent. Learn to identify those people who “cry wolf” with your time.

In the end…

What’s the moral of this life lesson? It’s that the time given to us each day and the number of days we’re given in our life is completely out of our control. We can continue to waste these precious moments trying to find time hacks and ways to cram even more into our days. Or we can stop living the lie of “time management” and starting actually living.

So how should we manage our time? We should take more naps, longer lunch breaks, a long walk and turn off work after reasonable business hours have passed. Yes, there will be tasks left to do, but there will always be tasks left to do. Even if you worked 24 hours a day, there would be something more to fill your time – or you would invent it. You are the only person who can and should prioritize your life. If you don’t work to find a balance, you will simply work and work and work until that becomes the only meaning in your life. And that is a very sad day, indeed.

So, have you fallen into the deadly trap of time management – working longer and harder in hopes that it will make tomorrow less hectic…but it never does? Share your own struggles and triumphs by commenting below!

 
5 Comments

Posted by on October 13, 2014 in Business & Success

 

Tags: , , , , , , , , , , , , , , , ,

Why We Need Rainy Days

cat looking at rainy window

It has been a gorgeous summer in Pennsylvania. After a long and cold winter, we have earned these warm and sunny days – and there have been many! A couple of weeks ago I had some (rare) free time during a Sunday afternoon. My first instinct was to find something to do outside that would allow me to enjoy the day; however, the skies were ominous with a pending thundershower. As I stood by the window, I took a deep breath and felt a wave of relief wash over me. What an odd reaction to have to a dismal day? No, I didn’t feel sad, depressed, frustrated or annoyed. I felt relieved.

Reflecting on this feeling and the circumstances of the day made me realize something quite important. We all need rainy days in our life. Obviously the rain nourishes and revitalizes the earth, but it does the same for us.

My relief came from not feeling like I had to find something to do make the most of the nice weather. I had an excuse to be inside – and to just slow down for a little bit. On this particular afternoon, I watched a movie from start to finish (a nearly impossible feat for a mother of a toddler). That’s it. That’s all I accomplished and had nothing to show for it. Or did I? I felt focused, rested and happy. It’s the first time in a long time that I turned off all other distractions and was fully present in the moment. I can’t remember the last time I did this, can you?

On a sunny day, I feel like I need to be outside walking, running or at the park with Holden. I feel guilty making him play inside when I know all too soon winter weather will come rolling in and we’ll be locked up for months. Even when we’re inside during naptime, the blue skies inspire me to tackle work projects and chores at a dizzying pace. In the afternoon we’re on the go again, running errands or back to the park. And after dinner? You guessed it; we get outside as a family! I’m proud of my active lifestyle that has allowed me to accomplish all that I have, but even hybrid moms need to idle every so often.

On a rainy day, we move slower. There’s no rush to get to the park; it’s not even an option. Naps seem to last a little longer and watching more television than usual is completely acceptable. If errands can wait, they do. Getting toddler in and out of a car seat is even more of a miserable chore when rain is pounding on your back. Maybe best of all, without the sun shining through the windows, I don’t notice the little finger prints that should be cleaned off as well as every other surface you can imagine. It all waits and we rest.

I don’t take for granted that the “sunny” days, when I feel energized and productive, will always be around – so I make the most of them! But I no longer dread the “rainy” days that serve an equally important purpose. These days revitalize my soul and force me to slow down long enough to appreciate the need for balance. The weather is a funny thing; somehow it knows exactly what we need even when we do not.

What purpose do rainy days serve for you? Share how you have found balance in your daily life!

 
Leave a comment

Posted by on August 11, 2014 in Life

 

Tags: , , , , , , , , , , , , , , , , , , , , ,

The One Question Every Successful Entrepreneur Must Be Able to Answer

top three priorities

One of my favorite shows currently on TV right now is Shark Tank. It feeds my entrepreneurial spirit and ignites a lot of creative (and sometimes cooky) ideas that I could only wish to have the opportunity to present to this impressive audience of venture capitalists.

All that aside, the reason I really love watching this show is because of the pearls of wisdom these experienced entrepreneurs spout off that have inspired quite a few blog posts – this week being no exception. On an episode from a few weeks back, it was Barbara Corcoran who said “Never have I ever met a successful entrepreneur who is unable to answer this one question.”  The question?

“Tomorrow when you wake up and go into the office, what are your top three priorities?”

This question is deceivingly simple. Try answering it off the top of your head right now. When I tried to do the same, I knew I had the answers, but when put on the spot, I found it hard to quickly put these key priorities into succinct bullet points. This doesn’t mean I’m doomed to fail as an entrepreneur, but it did make me want to sit down and put some thought into my top three priorities right now. Should I ever “bump” into Barbara Corcoran, this would be my answer to her question:

1. Continue to build quality relationships with my existing clients

In the pursuit of new clients, I never want to take for granted the awesome ones I currently have. I’ve already put the effort into earning their business, building a relationship with them and becoming efficient at the tasks I do for them month after month. It is a valuable use of my time to keep these existing clients happy and on board because trying to replace them is far more costly.

2. Selectively target new clients

Once I devote the time to keeping my current clients engaged, I need to continually fill my pipeline with ideal prospective clients. I’m lucky to be in a position where I can be selective with the new clients I choose to take on. I know the size, industry and vision of companies I best serve and these are the ones in which I’ll devote my time to pursuing. Smaller clients or ones that don’t quite align with my services may still find me, and I’m happy to see how I can help, but they are not the ones that I will actively put my resources into pursuing.

3. Find ways to automate my tasks and become more efficient with my time

I’m a consultant and sole proprietor by design. This means I must carefully guard my time and find ways to be extremely efficient as I take on additional clients if I want to continue to enjoy the benefits of the 80/20 Principle. It is my goal to find ways to automate my tasks or become more efficient at completing them so that as I take on new clients, I’m not working more, I’m simply filling the bandwidth my efficiency has opened up.

Whatever your top three priorities are right now says a lot of about the current state of your business/career and your entrepreneurial style. Maybe they even point out some areas where you need to refocus. They should address your immediate needs, but also plan for future growth and strategic change. Having your top three priorities locked and loaded serves a purpose far greater than simply impressing someone who asks. They give you that laser focus each and every day that is at the core of every successful entrepreneur.

Are you able to easily answer this question? Share your personal top three priorities by commenting below!

 

 

Tags: , , , , , , , , , , , , , , , , , , , ,

Are You Making the Biggest Social Media Mistake?

#fail

These days, everyone is on social media. But really though. There are fan pages for cats, Twitter profiles for cartoons and Instagram accounts devoted solely to food. It’s no wonder every business wants to also have a presence on these platforms because it’s where they can reach their targeted audience with interactive content that sparks discussion and builds brand loyalty.

With everyone diving in head first, this also provides a prime opportunity for a lot of mistakes. For the most part, these are minor errors or forgivable social infractions, but sometimes these mistakes can prove to be much worse – even deadly – for business. So what is the single biggest mistake businesses make with social media? It’s NOT having it be part of a bigger communications strategy.

The danger of a disconnected social media strategy

The most effective social media cannot be done in a vacuum. Nor can it be your only effort to communicate with your target audience. The danger is two-fold. First, you risk presenting a completely different voice on social media, one that does not resonate with the rest of your brand. Second, you turn off the power to all other means of communications that could help to amplify your social media efforts.

If you pique someone’s interest with a great Facebook post, only to send them to an outdated website that makes you look inexperienced or unprofessional, even the best social media efforts in the world won’t close the sale.

How to avoid this mistake

Luckily this is an easy problem to fix. It begins with identifying the missed communications opportunities outside of social media and paying special attention to the brand you want to create so that all efforts work in unison to achieve this end result. Knowing what to do is the easy part, but actually making the time to do it is where the problem most often lies. It can be overwhelming, especially to business owners who don’t consider themselves to be communications-savvy.

It’s good to keep in mind that outsourcing is always an option and the number of firms and consultants who offer these services are ever-growing. But proceed with caution. If you’re thinking about working with a person or company that only does social media, you may want to rethink this decision. It’s okay to be specialized or particularly experienced in a certain niche, but when it comes to your business communications, everything needs to flow together. The various ways in which you communicate with your target audience need to complement one another.

Instead look for a firm or consultant who offers multi-faceted communications strategies that go beyond just social media. You want someone who can also create content for your website, blog, e-newsletter and other promotional materials. This is the best way to ensure that the voice and messaging will stay consistent.

Steps you can take today

One. List your other current communication efforts. Do you have any? Maybe there’s a brochure or business card you hand out, but it’s badly outdated. Maybe you have a website that you push your targeted audience to visit, but it’s a static web page with cheesy clip art and bright fonts. Take a critical look at ALL the messages you’re sending out in various ways. How are people finding you and what is this saying about your business?

Two. Note the areas that need some TLC. So you have social media down to an art – after all, it is kind of fun. Now, turn your attention to the messaging on your website, blog, promotional materials and e-newsletters. How can they benefit from some of the modern messaging you’re putting out on social media? Create a vision for how they can better engage your audience, just like you’re doing on Facebook, Linkedin, Twitter, etc.

Three. Dedicate time in your schedule to tackle some of these tasks in order of priority. If you know you simply don’t have the time, allocate this work to an employee or hire a communications consultant to help you keep things moving forward. While you’ll need to invest in their time, if they allow you to keep doing what you do best while they improve your comprehensive communications strategy – that is a worthy investment!

Where have you seen the biggest social media mistake being made? Join in the discussion by commenting below!

 

Tags: , , , , , , , , , , , , , , , ,

The Easiest Way to Find Your Passion

Live-with-Passion

What do you want to be when you grow up? It’s a question we have all been asked at least once in our lives by a teacher, guidance counselor or parent trying to steer us in the right direction of a fulfilling career. Can you recall how you answered? I’m willing to wager that a vast majority of us never became what we thought we wanted to be when we were young, but don’t take this to mean you’ve failed your childhood self.

This question was never going to help you find your dream career or perfect job, because it doesn’t ask the only thing that really matters. What gets you excited?

The easiest way to find your passion is to identify what excites you. What energizes your soul? What puts that spark in your eye? What would you choose to do every day, again and again, for the next 100 years? This is what excites you, this is where your passion lies and this should become (at least part of) your career.

There may be some ideas swimming around in your head right now, but before you storm in your boss’s office with your two-week notice, let’s cover just a few more important details about turning your passion into a career.

Why excitement matters

It doesn’t take too much searching to find someone who has chosen a particular career path because it’s easy, stable or lucrative. While these aren’t necessarily bad characteristics of any job, without it also involving your passion, you will spend the majority of your life deferring your happiness to the weekends or retirement.

Excitement and passion for your job also helps you to excel in your field. When you love what you do, you take pride in your work and strive to be better at it each and every day. A job should do more than provide a pay check, it should provide a stage for you to showcase your best talents to the world. Pursuing a career that excites you will ensure you look back on your life’s work with satisfaction.

Understanding what really excites you        

If you’re asked “What excites you?” you might answer “Sports.” But we have to dig deeper. Simply saying “sports” is too broad of answer that doesn’t give us a clear indication as to what exactly about sports excites you. There are countless options.  Is it the element of competition, the energy of the crowd or the impressive athletic performance that you enjoy the most?

To better pinpoint your passion, we must peel away the layers of your initial answer by asking “Why?” at least five more times. For every answer, turn it into a question and ask yourself again. If you initially answered, “I like sports because of the element of competition.” Then ask, “Why do you like the element of competition?” This may seem redundant, but you’ll be surprised as to how it identifies what really excites you.

Turning excitement into a career

Once you have a narrow focus on your true passion, you will find that there are many career options that will allow you to tap into your passion on a daily basis. You may also be surprised with how different each option is. For me, it was foremost my passion for creative writing. The communications field obviously provided an opportunity to utilize this passion, but so did political campaigns, speech writing, website design and advertising agencies, to name just a few.

It’s important to think beyond the literal interpretation of your passion. Sure, you may be passionate about eating baked goods, but you have more options than becoming a baker. This love for food can also be turned into a passionate career as a food blogger, marketing director within a snack food company, food photographer or graphic/web designer that specializes in web sites for bakeries. Get creative and keep an open mind! A job will still involve work (sorry, there’s no way around that) but when it taps into your passion, even the work will become a labor of love.

If we want to reverse the dangerous trend of seeking careers solely for security and stability, we need to stop asking “What do you want to do?” or “What do you want to be?” And instead start asking, “What gets you excited?”  This is the easiest way to pinpoint your passion and ensure a life’s journey filled with fulfillment and joy.

Where does your passion lie? Share your own search for inspiration in the comments below!

 

Tags: , , , , , , , , , , , , , , ,

4 Ways to Make More Money Without Raising Your Rates

full piggy bank

No matter the size or industry, there is one thing every business has in common – the goal to make more money. Once you’ve established yourself in the market and increased the demand for your goods or services, it’s common sense to slightly increase your prices as well. However, too many years of this gradual price-creep can eventually price you out of the market and lose you clients.

It’s important that all business owners realize that simply slapping on a higher price tag isn’t the only way to make more money. Instead, think strategically and put the effort into learning how you can better serve your existing customers. In doing so, you will see that there are at least four different ways to make more money without raising your rates.

1. Restructure existing contracts

At least once a year, you should sit down with each of your existing clients and review their current contracts. Foremost, you should be doing this to be sure that your services are meeting their changing needs. Additionally, this provides an opportunity to present new ways in which you can help them.

Restructuring your clients’ existing contracts by taking out the services that aren’t producing a good ROI and replacing them with new services that will gives you the ability to bundle these services with a new price tag. In the end, the client is a new and more effective package of services and you are getting a new contract that reflects your current pricing.

2. Turn one-time projects into monthly retainers

In my line of business, I have both ongoing (retainer) projects and one-time projects. I have a found a lot of value in getting to work with a client on a small, fixed-timeline project, growing a relationship with them and then suggesting ways in which I can help them on an ongoing basis.

For example, I might be hired to re-write the content on a client’s website. Seeing that this new website also has a blog section, I might suggest my monthly blog writing services to help take this workload off their hands. I’ve now created a reoccurring stream of income that has the potential to be much greater than that initial project—all without having to raise the price of my website copywriting services.

3. Work with vendors who offer a referral program

This is such a smart, but commonly untapped, revenue stream. I work with many different vendors including professional graphic design artists, printers, website designers and marketing consultants. I’ve also developed a referral program with many of these vendors.

In some cases, I receive a percentage of the total cost of services they complete for a client and in other cases it’s a one-time referral fee. No matter the structure, this is an extra source of income that isn’t billed to the client at all. It’s the value or working with vendors you know and trust and have the best interest for each of your businesses in mind.

4. Become more efficient with your time to increase your bandwidth

The reward for good work is more work, right? Well, the more efficient you can become at completing the work for your existing clients, the more bandwidth you will have to take on additional work – and earn additional income.

I’ve found that after working with any client for a quarter, I can complete the tasks quicker and with better quality. There’s a steep learning curve for sure, but once you get past that you will also become more efficient with your tasks. Whether you choose to use this extra bandwidth to take on more clients or to simply schedule in some relaxation, there is value in this time!

Bonus tip: Over deliver with quality and customer service. One of the best and most basic ways to ensure a steady pipeline of leads is to inspire your current clients to make word of mouth recommendations for your services to their network. Before you spend your time attending business mixers and networking meetings, first put the effort into making sure your current clients are fully satisfied with your work. This will make them want to talk about you to everyone they know. And not much is more powerful than a glowing word of mouth referral to a second-degree connection!

Have you used any of these ways to make more money without raising your rates? Join in the discussion by commenting below!

 

Tags: , , , , , , , , , , , , , , , ,

The Value of Diversifying Your Customers and Clients

diversify-your-clients

No matter the industry, it is always beneficial to diversify your portfolio of customers and clients. Simply put, it prevents you from placing all your eggs in one basket. It also helps to keep your day to day work interesting, not monotonous.

Here are six types of clients of which every business should have at least one. Depending upon the types of services you offer, your model might best serve just one or two of these categories. However, the pros and cons associated with each present some compelling reasons as to why you should strive to diversify and spread out your clients. In the long run it will help you balance your ups and downs and achieve a valuable book of business.  Let’s take a look…

The longstanding clients

Pros: These clients have been with you since the start. At this point, you intimately understand their business needs and personal preferences. You’ve become very efficient with completing their work after earning your way through the learning curve. In addition to being good clients, they have also likely become good friends.

Cons: Being with you from the start often means you’ve also “grandfathered” them into some pretty nice pricing. Unless the scope of their work dramatically changed, you likely haven’t had the opportune time to raise your rates with them. The level of comfort and closeness within your relationship can prevent you from making firm business decisions because you value their loyalty and don’t want to do anything to damage it– even if it’s the best decision for you.

The new clients

Pros: In contrast to the longstanding clients, new clients offer you the ability to quote your prices at today’s rate – no grandfathering needed. They are also a breath of fresh air that embrace the suggestion of new tactics and strategies.

Cons: There’s definitely a learning curve with taking on a new client which is why you don’t want ALL your clients to be new at the same time. It can take awhile before the time you’re putting into this account will finally start being equal to your hourly rate. There’s also the uncertainty of “Do they like me?” or “Are they going to stick around?” that’s more certain with longstanding clients.

The big clients

Pros: Big clients (usually) mean big paychecks. They have the budget to hire you for a variety of services that allow you to showcase all that you are capable of and deliver full results.

Cons: If you should have a big client fall off, it can be devastating to your bottom line. While it’s a goal for many business owners to have fewer, but bigger clients, this will most certainly lead you to placing too many eggs in one basket. They can also be very demanding and because they’re paying you a pretty penny can expect unreasonable amounts of your attention.

The small clients

Pros: Small clients (ideally) demand less time and attention because they have smaller accounts. Their services are well scoped to adhere to their budget and as a result, it’s easier to quantify the services that are delivering the best results.

Cons: The limited scope of service can also limit the full extent of the results you achieve. While ideally small clients take up less of your time, I haven’t always found that to be the case. This can be where you find business owners who are very “hands-on” to the point of micromanaging. Their limited budget may also lead to unrealistic expectations for what you can achieve on for them.

The challenging clients

Pros: We all benefit from a good challenge from time to time. These are the clients who keep you on your toes, ask a lot of questions and may even change their own mind 20+ times before a project is complete. Alas, there is a pro in here and it’s that these clients help make you a better worker for all your other clients. They also set the standard for “difficult client” that make all others seem like angels.

Cons: These are pretty obvious. Challenging clients can waste a lot of your time and even cost you money. They can also make you feel undervalued and underappreciated. If they move from “challenging” to “disrespectful” it’s time to let them go!

The easy-going clients

Pros: Compared to the challenging clients, these clients are a welcome relief. Sometimes it’s nice to finish a project and just have someone say “It looks great!” They’re also open to new ideas and don’t question the expertise for which they hired you.

Cons: Sometimes you wonder whether these clients even really have an interest in the work you’re doing for them, because they seem to just say yes to everything. How can you not have at least one question or suggestion to bring to the table? This leaves all the planning and strategizing up to you with little constructive feedback.

Do you have a diverse portfolio of clients? What steps do you take to achieve this? Share your thoughts by commenting below!

 

 

Tags: , , , , , , , , , , , , , ,

 
Follow

Get every new post delivered to your Inbox.

Join 891 other followers

%d bloggers like this: