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Extra Valuable Business Resources You’re Underutilizing

Extra Valuable Business Resources You’re Underutilizing


Unfortunately, many small businesses are struggling to pay their bills or meet their business obligations. Unknowingly to these businesses, they have easy access to a goldmine of resources that if implemented the right way will produce more than twice their current revenue or profit. All they need do is to activate these resources to boost productivity. The big question is, how can they identify these resources not to mention activating them to boost productivity and increase income? Here are a few useful resources that small businesses are underutilizing.

1. Personality

You’d be surprised to find this on the list. Did you know you can use your story and personality to rake in several millions of dollars annually? Yes, it’s possible. This story describes in details what you need to know. The word nerd is synonymous with someone who loves reading and hardly hangs out. While some people don’t want to be associated with such a name, Anna Kendrick, the Pitch Perfect actress, was one out of the many celebrities who were nerds in high school. She had no other option but to deal with it. She described her high school self as a “flat chested theater nerd”. Today, she makes millions of dollars as a high profiled actress. She wasn’t socially comfortable but she learned how to live her best life without worrying about her personality. This is something you can do. You have a unique brand and a wonderful personality to not only grow your business but also make you a force to reckon with in your industry. Make the best use of it.

 

2. Data

Let’s say Business Owner X goes to work daily and monitor activities but fails to take note of relevant data produced by the business. Business Owner Y, on the other hand, stays in the Bahamas but gets regular update and data about his business in New York. From this illustration, which business will stand the test of time and perform better? The obvious answer is Business Owner Y because he uses the data provided to figure and fix any lapses in his business. Data and information gotten from a business can be used to boost productivity. If you are lagging behind in this area, it’s time you stepped up.

3. Time

Many business owners believe that they know all there is about time management. Often they are wrong. Did you spend time to train your staff? What do you have in place to keep customers engaged? Do you focus more on the most productive section of your business or always working on improving the weaker areas? Proper time management is key to a successful business. For your business to grow, you need to invest 110% of your time.

Why Time Is Your Most Important Business Resource

Proper time management is key to building a business that will grow and expand beyond expectation. Nonetheless, only a few business owners appreciate the essence and usefulness of time. It’s no secret that the primary objective of building a business is to make a profit but this can only be achieved when you manage your time properly. Here are some of the ways by which you can make use of your time.

1. Create and Follow a Time-Table

No two persons have the same schedule. To get the most of your time, it is recommended that you do an audit of your daily habits to see punched areas that need to be patched. Breakdown your daily duties into categories according to how important they are. You’d be surprised to see that you’ve been wasting valuable time on irrelevant tasks. Thankfully, there are quite a number of digital apps that can help you in this regard. These apps will provide a real-time update on how you utilized your time and areas that you need to improve.

Nonetheless, you need to understand that you have full control of your time and not some programmed software. Whatever personalized approach you use will be effective if you have self-control and the ability to honestly assess yourself to determine where you are lagging behind.

2. Prioritize

You need to prioritize your daily tasks and responsibilities. Know what needs to be done urgently and tasks that can wait. Every morning, create a list of your most pressing tasks for the day. Deal with urgent business issues without hesitating. Always stick to the deadline and try as much as possible to meet up with important commitments. Be sure to train managers and leaders in your organization on how to prioritize properly.

3. Focus on the Most Important Aspects

One of the most crucial elements when it comes to proper time management is not every urgent matter is important and vice versa. Sometimes, you’ll need to handle urgent issues that are less important. It is therefore important to learn to properly categorize tasks and responsibilities and know the most relevant ones that need to be dealt with. If you can do this properly, then you’re only a step away from becoming an expert in time management.

Time Thieves and How You Can Control Them

Many people think that money is the most important business resource. Often they are wrong. Their most important resource is time. Of course, you can make money even if you miss out on an opportunity. But this cannot apply to time. Once time is gone, you can never get it back. Money can’t buy time. And as a business owner, you need to make good use of your time since it’s a limited resource. To better guard your time, you must learn to control these time thieves.

  • You don’t have to check every message that drops into your inbox every minute. Instead, schedule time to read and respond to emails.
  • Create and stick to meeting agendas. Failure to follow an agenda during a meeting will eat up your precious time.
  • Avoid scheduling meetings at inconvenient times
  • Learn to delegate tasks so you can focus on the most important ones. Apart from that, failing to delegate tasks makes you work extra to get everything done
  • Be sure to schedule time for routine tasks such as tax or bills payment before it gets too late. Trying to perform these tasks at the ninth hour will require that you give them immediate attention.

You can allow other tasks to disrupt your day and steal your time or take charge. The choice is yours to make. Remember, you can never regain anytime you’ve lost so be guarded. Plus, time is never enough. You should learn to manage it properly to suit your needs.

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