2 Ways to Re-Evaluate Your Business
There comes a time in every business when things tend to become muddled. This is especially true if your a one man/woman team that is still taking care of all aspects of your business. Things will get left out or left behind or you may end up taking on more than was intended. The point is your business is muddled up and it’s time to take a step back and re-evaluate how things are going.
It’s time to take a look at your business and see what all this hard work has done for you so far. You may want to set aside some time for this kind of work and although you won’t be able to get much else done it’s still worth it to help your business, and you, run much smoother.
Trimming down your business will help your business become more streamlined and always moving forward. There are several ways to do this. Here are 4 ways to re-evaluate your business:
(note: I’m no financial expert or productivity guru but these are tips that I have found to help make my business move forward and wanted pass it on to you.)
Expenses and Income
There are a few things to look at here. The first and most obvious is to take a look at what money you have going out that relates to your business. If you keep track of everything, this part will be easy. If not just make a simple list of all your expenses. These are the things you spend money on to help run your business. It could be a membership, course, plug ins, books, tools, desks, computer, everything and anything.
Kind of like taxes you want to list everything that you buy or spend money on pertaining to your business. The idea is to look at where your money is going. Then take a look through your list and see what you don’t really need.
Now if you have the extra money to be spending on certain things that are not really necessary but are convenient, then keep it. But only if you think it’s worth it. That’s what you want to look at here. Is what your spending money on worth it for your current situation and income?
For example if your just starting out it may not be a good idea to jump into a course that costs 50 bucks a month when that’s all your making. If you making 50 bucks, that could be better spent on something that will move your business forward. While you may like the course a lot and granted it will help in the long run, at this moment in time it may not be the best idea.
Just set that off to the side and come back to it later when you have more income. The idea here is to see if the money your spending is helping your business move along. If it’s not absolutely necessary, such as your monthly hosting bill for your blog, then put it off for now. You can always come back to it later when your income allows for that extra expense.
Do this and you’ll end up with just the necessities and should be making a profit off the rest that you can invest back into your business and bank it.
Tasks and Productivity
Just like before you want to make a list of all your tasks. List everything from checking email, checking Twitter, writing posts, setting up affiliate links, interacting on forums, making phone calls. Make a list of all the activities that pertain to your business.
Once again take a step back and look at each one and find out what is moving your business forward and what isn’t. You have to remember that you only have so much time in the day. Every one of us only has 24 to a day, no more, no less. So if your trying to squeeze in too much then it may be time to trim away some excess tasks. Or at least trim down the time.
There are some tasks that you may have just got hooked on and there are some that you may just plain enjoy doing. But you have evaluate each of these tasks and figure out if they are really moving your business forward. What is pushing your business closer towards success?
Another way to help minimize this list is to combine tasks. I’m not talking about multi-tasking here as that can ruin the quality of some tasks, but more of how can you find a way to do something that accomplishes more than one task. For example instead of constantly checking blogs to see if there are anymore responses, sign up to receive responses in your email. Then when you check your email, you can check responses as well.
Or a more simple example; when your driving, instead of putting in a music CD, pick up a couple audio books that pertain to your business and listen to that instead. Or burn some interviews you have onto a CD or put them on you mp3 player and take them with you when your driving or walking. It’s good to use your imagination here.
Another way to shorten your to do list is to outsource. If you have the extra expenses then outsource the mundane tasks that take up time but are still necessary. This gives you precious time to work on the other tasks. And believe it or not can save you money as well just by giving you that extra time to make it.
(part 2 coming soon)
Learn more about self improvement, leadership, and marketing at The OMV. http://www.online-marketing-vault.com.
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