List all daily activities (in your business) and assign a monetary value to each one. Ruthlessly delegate or cut low value activities.
A lot of social media business influencers keep telling us about how hard they work. They probably do, but they also do things that are scalable and have high monetary value. There’s no substitute for hard work, but hard work does not get you far if you don’t focus on the right things.
It’s not easy to assign value to certain activities like brand-building in social media. It’s not clear how much money it brings in, especially if you’re just starting out. However, brand-building in social media can change your business completely. You have more trust, people know you, and you can charge more.
Sales activities are easy to value – if you’re selling a service or product which is priced at 10 000€, and your goal is to generate 30 000€ of revenue each day, you have to focus on doing at least 3 sales a day.
However, you also have to do the brand-building and marketing in order to have the leads to who you can sell your 10 000€ service. These are all high-value activities.
Doing accounting yourself because you don’t want to pay 50€ per month for accounting is a low value activity. Tech support for your product is a low-value activity. You should delegate all low-value activities and focus on things that bring in money. Without money, you have no business.