The New Kind Of Rich

The one thing that we have a finite resource is TIME.

It’s also the one thing we cannot buy, manufacture or create more of.

The easiest way to understand how to increase your revenue is to assess where you’re spending your time.

And not just you, but your employees too.

Once a month, I get my staff to audit their time. I do it for myself as well.

I get them to go through their calendar and categorise what they’re spending their time on, and how much time each of those categories take up.

Then we apply the DOCS method:

Delegate, outsource, continue or stop.

Can I delegate this? Is someone else able to do it for me?

Can I outsource it? Is it possible for a VA, marketing agency or copywriter to do this task?

Should I continue to do this? There are some things in your business that only you can do, or that you can do best. And some other things don’t actually need to be done, but you’re holding onto an old pattern of belief that they’re necessary.

What can I stop doing altogether? What is not moving us towards the outcome we want?

These time audits were harder in the beginning.

When you’re setting up your business, there’s a lot of moving plates you need to keep spinning.

But you need to keep challenging yourself to regularly reassess the way you’re doing things.

This is where I see a lot of business owners get stuck.

They set up practices and rituals in their business when they’re starting up. Maybe it’s weekly business meetings or KPI meetings.

But as you start to resolve problems and meet challenges and progress your business forward, some of those processes and rituals become obsolete.

It’s easy to get so caught up in the day to day hustle of running our business that you don’t stop to really question where you’re spending your time, and whether you still need to be doing things you have done before.

So over the next week, try tracking your time.

Keep timestamps in a notebook, or install an online time tracking app.

Then at the end of the week, audit what you – and your team – spent time on, and challenge your thinking.