Being a small business owner is hard; there is no way around that fact. When you are passionate about a business idea, that passion can power you through many long days and nights of work. Eventually, the stress and amount of work can start to get to you. The good news is that doing less can sometimes be the key to moving your business to the next level of success. The tactics to do less and grow more may surprise you.
1. Stop Wasting Energy and Time
While you may feel like you have endless amounts of energy at the beginning of a new venture, that enthusiasm can fade and leave you vulnerable to burnout. Avoid this by identifying the business and marketing duties that are not giving you the returns you need and cutting them out of your day. For example, do not waste valuable time marketing your business to the wrong audience. Refine your strategy, slim down your approach and money will likely follow.
2. Know When to Say No
If you are a business owner with a dedication to your work, saying no might seem like the last thing you would want to do. After all, why would you ever say no to a new client or more work? It might seem like the best strategy to accept every new project, but saying yes to the wrong projects can actually cut down on your profits and eat up your time. Learn to say no to projects that will not give you a good return on your time and say no to potential clients who will be more trouble than a project is worth.
One of the hardest things for a small business owner to admit is that they cannot do everything. While it might be possible to be your own CEO, CFO and CMO for a period of time, you will have to face the fact that growth is only possible if you learn to delegate tasks to the right people. Find quality talent that you trust, and learn to let go of having complete control over every aspect of your company. Once you learn to delegate, you can increase your productivity and become more successful.
Running a small business takes drive, but it is important to make sure you are not wasting your valuable time on tasks that drain your energy, that do not pay you what you are worth and that could be delegated. Learn how to do less of the wrong things so you can focus on what is important: growing your business.