Yesterday someone asked me . . “what is the most common productivity problem you see in successful entrepreneurs?”
Successful entrepreneurs usually share a common trait. Almost all of them are overworked, tired and are trying to figure out how to cram more productivity into less time. But, the reality is: what worked when you were at stage 1 of your business may no longer work in stage 2 or stage 3.
Entrepreneurs that have been able to balance their lives have rarely done it by working harder. They did it by keeping their eye on the prize. No, not revenue, market share or a new channels of distribution; the prize is SCALABILITY.
You remember scalability, it was a big deal when you were designing your business model. If the model was not scalable, you would not be able to grow the business profitably.
Well, now that the business is growing and all seems well, the weak link may have become YOU. You are inherently not scalable.
So, what is the most common piece of advice I offer successful entrepreneurs?
Stop making so many decisions.
Face it, chances are you are already sufficiently removed from the day to day processes of your business and are not feel as comfortable as you once did in making quick, gut level decisions, anyway. you have grown passed that. Now, there are many more decisions to make, and they seem to come up much more often. The results are: much longer time to make decisions, lower quality decisions and missing your son or daughter’s recital.
Instead, I urge these business leaders to reduce the amount of decisions and instead, make the necessary adjustments to have staff or outsourced resources present them with the top 3 or 4 choices (with reasons and rationale, of course). Then, make a choice instead of a decision.
I have found that in the vast majority of cases, choosing results in better and faster decisions, that free up time and make you a much nicer person.
All the best.
Customer Loyalty is Never and Accident !