On cutting the crap as a small business owner
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Stop being so nice. It's time to cut the needless hassle from your business!
Small business owners are generally harried, fractious and tired. I know this, because as a small business owner, I’m harried, fractious and tired. The problem is, anyone running a business has to focus on three things simultaneously. The past (who have you done work for? Are there invoices outstanding? Have you forgotten anything?) The present (what projects have you got going on? Can you do it all? Have you mailed everyone you meant to get in touch with?) and The Future (how do I develop my business and get further clients? More money? More time? More exposure? A winning lottery ticket and a château in Southern France?
With all this going on, it’s easy to get completely wrapped up in work and forget to focus on any one thing. How many times have you written a ‘Things to do’ list, and panicked about how much there is on there? Or stayed up for the best part of a night, trying to catch up with work?
There are ways to get savvy about staying focussed, so that you only do what you have to, to get by and make your business a success. Here are some tips…
Plan your time wisely
It’s far too easy to let time slip past without realising it, as you spend it on things which suck your attention up and don’t offer any reward. Things like chatting on Skype, responding to a massive email thread when you could pick up the phone, or browsing the web can eat in to half your day before you even notice. Get time-wise and cut out the unnecessary tasks.
Cut out the crap
Do you really need to do more networking? Can you really afford to keep doing all those jobs for people that you slip in for free, as favours? If you’re finding it tough to keep going, it’s time to get rid of the things you don’t need to be doing. Most of these things are the jobs which don’t pay. No money…no honey!
Say no
If you’re anything like me, half the things you do for people are favours. Favours do not pay. You don’t need to say yes whenever anyone asks you for help. If you always say yes to people, there’s a risk you’ll end up being the resident doormat, on hand to provide free assistance to anyone who happens to be passing by, because they’ve heard you’re an obliging kind of person. I know this, because I am one of those doormats. But I am going to change. Just as soon as I’ve sorted out my mate’s website.
Up your charges
If you are so busy you can’t breathe or think right now, the chances are it could be time to up your charges. You’re obviously doing well, so start pricing your services in line with your abilities and growing reputation. You deserve to be paid what you are worth, so tighten your charging policies and do less work, for more money. Those clients whom know and trust your work will stick with you. If people leave, it’s because they were enjoying the free ride, and you’re better off without them.
And it is necessary to plan ahead. One must think about existing commitments and estimate the time and effort to deliver on them – do some sums to see how things add up. Also there is the Boston Matrix which is worth a look. It helps you to know which bits of your business to grow or drop for you want to be doing the right things!
Sorry I have now remembered the other one. Porter’s five forces I think. But they are things for big businesses. But you are right. A loss leader is one thing but spending time offering free or cheap service to people who are just taking advantage of you is I think not a sustainable approach. Good luck.
Good advice Jon, thank you! I think I will need luck when it comes to toughening up and not being a softy with my services, anymore
Great to get your comments – really appreciate it.
You make a good point. Business strategy that’s one thing, but knowing when to say no to friends or close colleagues is another. Or rather than ‘no’ perhaps ‘would if’ (would if I had some free time). But if you are already at full capacity something will have to break if you agree to do more, and you do not want that thing that breaks to be you! Maybe your NLP and therapy skills can help the message?
Well I think you’re doing a great job Jen. Things are always chaotic in the begining but you’ll soon have it suited and booted, even with starlings trying to get in your way.
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Good tips Jennifer. I’d also add that in addition to saying no, look at outsourcing. If you can’t do the job, you may be able to outsource the job, put a mark-up on it and earn a bit of profit for handling the job, and you will be able to satisfy your customer. You can also consider outsourcing for your business to free up your time (contract a part time book keeper to do the basic accounting for you, contract a virtual assistant to answer phones, do paper work, etc.).
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Excellent dollops of advice spring chicken. Pleased to note you must be enjoying some degree of success in order to feel the need to dispense advice on turning down work!