How to Know Where to Best Spend your Time as a Business Owner

As a business owner, you know that time is your greatest asset. You can lose money and get it back. You can even lose a business and get it back. But time is irretrievable, and that's why you've got to protect it. And to make good business decisions, you also need to put regular time into planning, more than anything else, time is the most precious resource you will deal with as a business owner. Unlike money, you can only make so much of it in a day, so it is crucial you manage your time as effectively as possible.

Decide how much time to spend on business development, personal needs, family, and other important areas. A good allotment of time to set aside for yourself is 25%. Each time you make a commitment, make a timeline for your involvement. Keep in mind that maintenance requires 25% of the time you spend on any project. If you want to understand how some of the greatest operators manage their time with a P.A they work off what is called a "Ideal Work Week" or "Ideal Week" where every part of the day is schedule via priority of the task to the business or lifestyle and controlled by strict time frames.

At the early stages, business owners are involved in every detail of the company. Their free time would be spent on marketing, strategic planning, product development and developing strategic partnerships. Doing so, they would create new opportunities, grow revenue and achieve a better balance of work and personal life this is required for any business that is looking to scale. And one of the easiest ways for business owners to free up time and be more productive is to streamline tasks like scheduling meetings, follow ups, outstanding orders and payroll tasks. Scheduling payroll can save countless minutes of repetition from doing data entry and follow up outstanding invoices all take up time when your business starts to grow. Using the right systems and communication the owner can quickly leverage the business with the employees or outsourced resources, delegating tasks all in an instant and hand off the task of the easier more simple things like payroll, admin, repetition tasks. To have these allocated to staff or external contractors on a lower hourly cost that can deliver them on a faster and more effectively basis. The business owners can then devote more of their time to doing what they love: growing their business and turning a greater profit.

Constantly dealing with “urgent matters.” Whether it’s filling a sudden gap in scheduling, dealing with an unruly customer, fixing mistakes in payroll, business owners spend over a third of their time on activities that are both urgent and of immediate importance. This, coupled with unscheduled communications, personality issues, waiting for information or dealing with administrative tasks in general, are key reasons why business owners spend too much time working in their business instead of on their business. So having a clear vision and why in business and strategically doing the 20% of things that deliver 80% of your outcome as the priority each day will change get huge results with the same or less effort. By focusing on the main things each day and what will add the most value to your strategy to grow the business and keep on moving forward will make blocking out the minor issues easier and knowing where and how to spend your time each day.

As a business owner there are several roles that are performed in the beginning of running a company admin, payroll, book keeping, sales, marketing, hiring, training, business strategy, culture and the vision. Though most owners find themselves trying to do everything or too at least way too many of these things and this is what holds back the company from greater growth and profitability, they need to map out a work flow and understand what roles and tasks are done at each section of the work flow, systemise those processes and then start to look at the more minor repetition tasks and roles to be able to allocate them to an internal recourse or external recourse to get them done with freeing up time. I can ensure you it might feel a little hard to let go and trust with these things at first but you will free up valuable time as a business owner to focus more on the big picture and higher income producing activities in the business, along with having the right plan of attack to execute this process with minimizing risk was discussed above about the work flow and systems being structured within the business before trying this concept.

This process goes on and on and you can leverage and allocate more of the roles and tasks as the company grows, as you get bigger there will be further aspects to step away from and try replace with a more skilled or cost effective solution to achieving that outcome, you will notice your time becoming harder to manage and this is when you will know to review the businesses efficiency strategy. But please keep in mind a ruthless scheduled week, clear strategic plan is needed and definitely make sure you map out the per sale and post sale process with detailed systems and processes before you allocate the roles or tasks to help make the transition easier and successful.

Written by:

Kane Hansen


How to Create a Positive Mindset

A positive mindset keeps you going. It enables you to look at the positives of any situation and it helps you to visualize your goals, ultimately resulting in reaching them easier. The power of positive thinking is a popular concept, and sometimes it can feel a little cliché. But the physical and mental benefits of positive thinking have been demonstrated by multiple scientific studies. Positive thinking can give you more confidence, improve your mood, and even reduce the likelihood of developing health conditions.

Nobody's perfect. We’re going to make mistakes and experience failure in multiple contexts, at multiple jobs and with multiple people at some stage of our lives it's inevitable. But instead of focusing on how you failed, think about what you’re going to do next time, turn your failure into a lesson. Always remember that a positive mindset in business can be the difference between success and failure. It is all about learning just as a child which you were once upon a time tries to ride a bike for the first time and you fall off. You short term fail right...... but you continued to change and attempt to ride the bike without falling. It is this mindset we lose as we grow older we forget that everything in life is learnt through failing, reflecting and adapting until we succeed. So embrace your failures as it is apart of the journey to the outcome you are working towards.

Take a look at how you can remain positive weather you are self-employed, an entrepreneur, or someone trying to climb the ladder in your given field, you must always remain positive no matter what challenges you encounter. Almost invariably, you’re going to encounter obstacles throughout the day there’s no such thing as a perfect day, we wouldn't appreciate the sunny days if we never had the rainy days. When you encounter such a challenge, focus on the benefits, no matter how slight or unimportant they may seem, using gratitude as the fuel to keep you going. It is impossible to be grateful and angry or sad at the same time those emotions can't overlap. When facing hardships, setbacks, or self-doubt about your skills and abilities, positive thinking and daily affirmations to yourself saying that you’ll succeed can be a powerful force in helping you overcome anything. Get to a mental place of gratitude, them visualise and manifest positive thoughts and visions and know the process takes time, hard work and resilience. Preparing yourself and your mind for the bad days ahead makes it easier to pull your mind out of that negative spiral when it arises, you will be aware when it hits you.

Someone with a positive mindset handles challenges with self-assurance and composure. These people have confidence in their professional skills and ability to deal with obstacles. They can manage stress, remain calm under pressure and plan to resolve problems effectively. A resilient attitude also requires strong goal orientation, which means monitoring progress ongoing and regulating behavior that affects the goals one sets for oneself. Remember riding a bike you aren't born with these qualities in mindset control they are trained into the mind, they are developed and practiced. You need to pay attention every day to the mind, understand what it is doing and refocusing it's energy to the end goal. Setting goals daily and having a routine that starts your day with a positive and strong vibe is critical to remapping the brain to become more ruthless to success.

If you maintain a positive attitude, this will be infectious and those around you will pick up on your positive energy. Everyone in your company will feel positive and customers will want to do business with you. This in turn will lead to you maximizing the performance of your business. With a positive approach you will feel in control and confident and you will perform at your best. Then this is where it gets interesting because as soon as you get momentum, you see it working and improvements happen the snow ball affect kicks in. You start to believe in it, you focus more on it and are so in tune to what you do and when or why you do it then.

So a little recap to this is start a routine. Hold gratitude within you mind and body, visualise your outcome and focus and know your true purpose the end game. Write down these goals or vision, create parts of the routine that get your energy up. Thi can be gym, running, yoga as long as it is a sustainable and effective part to the process. Be ready for setbacks, embrace them and reflect on where you slipped up, then replan your strategy or ways to retrain the brain around those obstacles and try again. Bringing yourself always back to the good energy and purpose of the why and the long term vision. Give yourself daily praise for the small things, any progress is progress, a failure is process as you have now identified another way as to what doesn't work. Now go out there and smash your future into the destiny you deserve.

Published by:

Kane Hansen

Instagram: @streetsmartkanehansen

Web: www.truenorthbusinessconsulting.com.au


Why Mindset is a Critical Skill to be a Great Leader

Mindset is the engine that drives a leader’s daily experience by dictating thoughts, mood, tone, and behaviour, which determines the quality of their influence and impact. Great leaders are a result of how they think. Their mindset is a prism through which they view their work, their world and the model they use to engage in it with any relationship or task.

Leaders mindsets know they can influence others, but they can’t control them. Instead of yelling, screaming, and threatening others into compliance, they role model the exemplary behavior they wish to see, they inspire people below them beside then and even above them. Their efforts bring out the best in other people, they seem to read people well for their strengths and not their weaknesses  allowing the positives to shine through. Excellent leaders and business owners will notice an issue with a team member early on. They’ll show them the proper way of doing the job before giving them the boot. Leaders know the difference between an employee who simply doesn’t care and one who is just uneducated or misinformed from lack of training or resources.

A good leader knows the importance of teaching someone how to solve a problem before insisting they did it completely wrong. They know the power of legitimate guidance and won’t sanction a member of the team before they’ve been properly trained. They will be accountable and take blame as the last in charge for the team and those within the company. They will sacrifice themselves for the team as any hero does.

A person with the leadership mindset is always seeking to add more value to their team. It can often become a conflict when a team member yearns to do more for their company, but fears it could cause disruption. The problem arises when a person steps up and works harder, causing the other members to get pissed and appear like they are doing a sub-par job. It’s actually awful people don’t feel encouraged to do more in their company for this reason. So building community and culture within that team is the skill that a leader needs to infuse into them so people want to help, grow and build together as a company as one. This skill to mold the DNA of a brands is very unique.

In a world of practicalities, leaders set goals and create action plans to bring those goals to fruition. They can engage their mindset in much the same way – programming their thinking with the beliefs and emotions that will actively attract the business result they are looking for. Essentially, great leaders perform like film directors, envisioning the ending, then writing the ‘inner’ script and directing their team through the production. Whilst keeping the entire business heading towards it's True North the overall vision they can manage to move back and forth in a balanced fashion with on point emotional intelligence to facilitate and manage the teams overall well being along this path to growth and success. The path to growth always causes pain points and to success can sometimes stress a teams strength but to pull everything together and remain in control and identify the issues along the way to innovate and create continuous development is critical if you want to build a world class team.

Great leaders are made, not born. Everyone has the opportunity to build mental muscle. Just like you can make choices that will help you to become physically stronger, you can perform exercises that will help you become mentally stronger and work towards having a mindset of a great leader. All great leader have rituals and routines every day they do, they will visualize the dream and goals daily even physically writing them down to bring the manifest thoughts to the reality of this world like a dream to a reality. And the other main things as any king of the jungle great leaders always eat last they are the most responsible and take the accountability of their team with full pride and the last to take any credit.

You should never be afraid to work harder than the people around you. In fact, I would argue that you can develop a leadership mindset if every day you strive to do more than all of your coworkers. But better yet do more for you and also help them along the way, build together the latest building in town don't try and pull down all the buildings around you to be come the biggest building in town. So remember if you are the mail boy at the company or a CEO you can develop, grow and be a great leader to yourself and to all those around you, it just takes time and consistent work.

Published and Written by:

Kane Hansen - True North