Chapter 9: Please remember this is from the original book. A small percentage of the content is outdated. The chapters are being provided in reverse order so they appear correctly on my new LinkedIn Group by the same name as the book.
Time Management Brings It All into Focus
In Step Two and elsewhere throughout this book, I’ve discussed leveraging tasks to those who have the appropriate expertise. In this chapter, I’ll further demonstrate how to leverage your time. Once you have this part of your system in place, you’ll be driving 30% or more profit increases every 90 or less, again and again.
I have several clients right now who are growing faster than this every month.
Brain surgery is an example of a profession where you may not think leveraging applies. This skill is so specialized, how can there be any leverage? Doesn’t the surgeon always need to be involved in the process?
If you take a step back and see the surgeon’s “whole picture,” aside from the procedure itself, everything else is done by support staff members, before, during and after. The procedure can only take place once the facilities, equipment and staff are ready. The surgeon then arrives, applies his or her skills then leaves the rest of the process to the support staff. The successful operation takes the specialized skill of the brain surgeon and his or her ability to trust and work with the right equipment and team makes that possible.
Most business people try to do all the steps themselves. Getting away from this is always a major focus of mine when coaching clients.
Your support staff, if you have employees, is a key element to time management. If you don’t have employees, you still have a support team or, perhaps your power team would be a better name for them. Your power team may include: a CPA, a lawyer, your vendors, realtors, bankers, coaches, contractors, sales representatives and more.
Your support staff allows you to focus on your particular skill, the areas where you bring the most value, while they handle the other things that need to get done to keep your business operating efficiently.
My friend, George Ross (of Celebrity Apprentice fame – the person whose office is next to Donald Trump’s), says 20% of what we do results in 80% of our income. There are others teaching this as well. George teaches the system behind the 80:20 rule, as do I, with all those I coach.
I host a monthly call with George and we regularly discuss this productivity enhancement process, as well as many other topics, including the principles of successful negotiations, an area where George is an expert. His negotiation skills are the number one reason he has remained Donald’s executive vice president for more than 30 years.
Personally, I’m very grateful for all that George has taught me in the more than two years I’ve been working with him. Here’s a gem from George, in response to my question regarding what is his number one piece of advice, when going into any negotiation? George advises that you know what the other person wants. While this seems so simple, most people don’t ever really know about it or apply it.
Visit Amazon and search on “George Ross.” Buy his books. They’re very valuable. George Ross, I’m grateful for you.
Wayne Allyn Root is another great friend of mine. Visit http://rootforamerica.com, for more on this remarkable man, who has the highest level of energy of anyone I know. He has taught me and others a lot about his uniquely powerful system of “positive addictions,” which includes action steps that develop mind, body and spirit.
Wayne is very successful and he attributes his success to the use of a very clear goal-setting system with your vision of longer-term and shorter-term results. He finds pictures of outcomes he’s creating and has a “dream book” he puts together using those pictures. He keeps this by his bed and he spends time with it every evening.
Wayne is absolutely relentless about goal achievement, whether it’s a daily goal or one that’s four or more years out. Very soon, you’ll be able to register for a monthly call with Wayne. If you’re subscribed to my list at: http://buldingbusinessprofitsfast.com, you’ll receive an announcement as soon as this is available. Wayne Allyn Root, I am grateful for you.
I could write a complete book on very successful people and notable people who are my friends and advisors. Maybe I will, at some point in the future. For now, I’d like to mention one more of my great friends and a remarkable man. I first met him when I was in the audience at an event in Hawaii. I watched him deliver a powerful presentation on the keys to his success and then, as started talking about his latest venture, he started taking off his suit jacket, then his tie, then his shirt.
Under his shirt, he wore a very tight athletic shirt and you could tell he was in tremendous shape. This is man is Joe Sugarman. He’s in his 70’s now. Joe’s a legend. He’s the founder of the Blueblocker Sunglass Company and, while his sunglasses are revolutionary, it’s his amazing marketing and copywriting skills that place him in the top tier of the elite. Google Joe and read all his books – if you can find them all. Several are out of print. You should get them, if you can.
Joe has taught me a lot about marketing and writing great sales copy. Knowing him has helped me in many other ways. Joe’s an outstanding, caring, giving person. Being around him is calming and he always listens as if he were still a newbie. Joe has coached me through an amazing physical tune-up process – and I’m now overdue for another one. How this relates to time management is that, by his personality, people will do almost anything for Joe. Today, he runs several businesses, keeps himself in tremendous physical and mental condition and nurtures professional and personal relationships. He does that and more because he prioritizes what’s important and accomplishes those tasks by focusing on what he does best, while always allowing others to do what they do best. Joe Sugarman, I am grateful for you.
Think about every process in your business that you personally handle now that could be handled by someone other than you, with less or different experience. Be sure to identify those processes that require your direct involvement at the management level. The principle is to leverage those tasks that should be done by others while remembering that, as business owners and leaders, we remain accountable for the ultimate outcome.
Remember the surgeon. What processes in your business are not uniquely tied to what you must handle for your business? For the surgeon, it’s the actual work performing the surgery. For you, it should be anything that’s essential to you achieving your revenue and profit goals. I believe you’ll find that most of what you absolutely must handle yourself will fall into the category of strengthening important relationships and building new ones.
There are many time management techniques. The one most important technique that can quickly get you from where you are to a 30% increase in your profits is breaking down and re-assigning all the processes in your business that can be moved off of your plate. This puts more time in your hands to focus directly on marketing and managing your business growth.
Most business owners and leaders I’ve worked with find that this one process results in the profit needle moving up very quickly. More important is the fact that it will result in the development of an increasing number of amazing relationships.
Action Steps
- Every week, identify the top 20% of all you do that will make an 80% or more improvement in your revenue and profits. Then focus 80% of your time on that 20%.
- Use the Accelerated Accountability Worksheet to facilitate implementation of the 80:20 program. You’ll find the Accelerated Accountability Worksheet in this book, in the bonus section.
- For each important relationship for your business, develop a list of what you offer them that will help them. Your relationship development program should focus on how you can help them. The more you give, the more you gain. “Givers Gain” is the theme of the largest networking group in the world: BNI Business Network International. It is absolute truth.
