When starting your own business, time is of the essence.
Time is fixed.
Time is fleeting.
Time is the biggest enemy against the entrepreneur.
It is so easy to finish the day, tired, sit back and enjoy a glass of wine â€“ all the while congratulating yourself on the â€œamountâ€ of work that got done.
It wasnâ€™t until I began evaluating the work completed that I realized that I was falling into the trap of doing busy work and not creating enough meaningful output.
I work from home online and now have four whiteboards in my office. On the first board are projects or tasks that directly impact income. Anything on that board must specifically make extra money. It is the most important board in the room.
The last board has â€œother stuff.â€ These items are, for the most part, busy tasks or future online business ideas. For example, redo a banner, websites I want to start, books to write, etc.
The other two boards are dedicated to projects in progress. Maybe not bringing in income today, but the expectation of a good return is in the near future.
Items get added and deleted off boards almost daily. Most of the week I never get past working on tasks on the first board. That is also the way it should be.
Think of it as a fancy â€œto doâ€ or â€œpriority list.”
For example, I love playing around with website coding and design. Sure I can outsource many of those tasks (and I often do) but I enjoy it. The problem is that it is often not worth my time.
When I am working on something that I feel needs to be tweaked a bit, I have to look at how long it will take me and will it make an [income] difference? If not, I should probably be working on something else.
If you are not using some sort of â€œpriority listâ€ I suggest you start now. Your number one priority should be items that directly affect income. Adding a product, testing a new sales page, writing a sales email, fulfilling customer expectations, building a list, and finding a JV partner.
Everything else should be below that. I mean everything. If you run out of items on your â€œimpact incomeâ€ list â€“ you better find somethingâ€¦fast.