The Less I Do, the More I Make

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The trap of the small business owner is, that in many cases, to grow a business to some level of success means putting your head down and working real hard doing the making it, fixing it, shipping it of the business.

Problem is, that also eventually stops you from growing. Delegation is an art, but a necessary one. Until you can unload the technical work and focus on the strategic work you will find that your business will fall into cycles of expansion and contraction eventually settling on some sort of entrepreneurial homeostasis that neither pays well of satisfies.

I don’t mean to paint such a somber picture, and after all this is a marketing blog, so what’s the point of a discussion of management strategies. One of the best things you can do in your business if you can free yourself from the technical work is to finally spend more time on strategic marketing work – in my mind some of the most productive work you can do.

In order to break free you might want to compute your strategic minimum wage – this is an hourly rate computed by taking what you would like to make in a year and dividing it by 2080 (that’s 40 hours a week x 52 weeks.) If you want to make $200,000 this year then you need to do work that is producing profit of $96 every hour. Are you?

Let go of doing everything yourself, let your business grow up a bit and get others doing for you. Can you contract for services for some work for less than $96 per hour? The tough part is that transition period. It’s harder to teach someone how to do something than it is to do it yourself. Invest the time now and it will pay dividends later – just make sure you document the procedures while you train.

I can’t find time to blog? Who has time to build relationships with journalists? I can’t seem to find time to develop referral partnerships and line up speaking engagements. Ever said any of these? All of the above are worth far more than $96 an hour. Why then can you always find time to unjam the copier and check your email.

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Posted by: John Jantsch on Jan 31, 07 | 2:02 pm
Category: Vision | Tags:

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Ryan

You hit the nail on the head, John. Outsourcing or contracting out parts of your business is really the only way to maximize your potential.

There are only so many hours in a day that you can bill for. By subcontracting tasks that can be done cheaper, by a freelancer for instance, you are allowing yourself to bill not only for the time worked by the sub, but also for the portion of the project you completed at the same time the sub was working. If your sub works for 1/2 what you bill for, you essentially added 50% to your productivity. Have two subs and you not only triple your productivity, but also double your profit.

And not only does your bottom line benefit, but you get similar benefits as having multiple employees without having the burden of employment expenses such as work comp insurance and payroll taxes.

The trick is finding good, reliable subs who can do the task at hand. If it's IT related, freelancers are readily available at elance.com or getafreelancer.com.

Accomplishing more by doing less is truly the secret to financial freedom.
Accomplish More by Doing Less

<pingback>...to slower growth or burn out. How can this be a problem? ...</pingback>
Accomplish More by Doing Less

<pingback>...â€œworkâ€ is the main activity or service that your business provides.Â ...</pingback>
SW Washington and Portland Sma

<trackback>Delegation For Business Survival
John Jantsch in a recent Duct Tape Marketing Blog entry made an interesting point about how lack of delegation can stifle the growth of a business. The gist of his point is that not all tasks in a business are of equal value and if you can hire or outs...</trackback>
Chris

I remember reading an article criticizing people that didn’t answer their own phone as being distance and full of themselves. I was amazed that people think that way. People need to think beyond themselves. They need to think of their business plan.

Chris
http://www.TheProsperityGuy.com
Deligation is an art | The Pro

<pingback>...homeostasis that neither pays well of satisfies. Read the entire article at Duct Tape Marketing Blog ...</pingback>
Susan Martin

I agree, and it's not only around marketing, but everything else it takes to run a business. Being able to delegate and/or incorporate systems so that you don't have to do everything yourself, so that you can sit back and look at the big picture, to plan and think strategically as opposed just reacting to crisis, or becoming a slave to the business is one of the things my clients come to me for, it's very achievable...once they realize it must happen.
The Gritty Virtual Assistant

You said it, John.

This was the topic of my recent article posted in your article directory here: http://www.ducttapemarketing.com/article/articles/238/1/Top-10-Reasons-Your-Business-Isnt-Growing/Page1.html

And not just marketing, but there is a whole new small business paradigm (or maybe not so new), one that I'd love to see Michael Gerber address and provide for in the E-Myth philosophy, and that is that not everyone wants to take their hands off the work entirely nor set up their business using the franchise model.

By automating, systemizing and creating an intentional operational STRATEGY, you can not only continue to grow your business and have more time to market, but you'll also be able to continue doing the hands-on work you love.

--Danielle
Vickie Turley

I totally agree with you. There will come a time in any successful business when, in order to continue that success and grow it, delegation will come into play.

"I can't find time to blog? Who has time to build relationships with journalists? I can't seem to find time to develop referral partnerships and line up speaking engagements. Ever said any of these?"

These are the questions that are asked when there doesn't seem to be 24 hours in the day. And this is where I come in. A virtual assistant creates more time for you to do what you do best - grow your business. A VA can partner with you, freeing you to really concentrate on your marketing functions. If and when you decide you're ready to delegate to a professional who will care as much about the success of your business as you do, think about partnering with a virtual assistant.
John Jantsch

David,

To me strategic is who are we, what do we want our ideal target market to think about us, by the way who is our ideal target market and what problem or solution do they have or need. Do I like them!

Tactical - what advertising vehicle, what offer, what call to action, what partnership, what mailing, what journalists, how do we keep score.
David Rachford, CPA Marketer

E-myth revisited.

John, this brings up an interesting point - "strategic marketing" verus "tactical markteting" - Care to break it down a little more?
Dave
Careers Hotwire

<trackback>How we Spend Our Time
John Jantsch has an excellent post up about the way small business owners spend their time. He starts by describing a situation many of us probably know really well:Until you can unload the technical work and focus on the strategic</trackback>
The Less I Do, the More I Make

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Watershed Studio Blog »

<pingback>...project before making the decision to go “in house” or to outsource. The Less I Do, the More I Make We totally agree as do so many others. Until you’re in a management role, it often appears that management is being ...</pingback>
Kofi Annan

Most of us realize this much later on in the business process, and at that point it's hard to convince yourself to take a step back to allow your business to continue growing. Many of us get into business to do what we love doing and it's always hard to come to terms with the fact that if you want your business to become more than a hobby you have to implement certain procedures that's going to draw you away from the daily activity you enjoy doing most.

But you're right, and I did just that by taking a year off to get used to the idea that I can't do it all myself. Now I'm back to work.

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