Whoever Heard of a Contractor Not Wanting to Get Paid for Their WorkTuesday, January 15th, 2019
You shouldn't want to get paid for the work you do. You should focus on getting paid for the work your team does.
Often, the owner is doing too many jobs to do anything very well. Being overworked prevents your income, personal satisfaction, and family goals from being met. It’s important for you to identify what you do now, and what you should be doing to accomplish your goals.
In a small business, it’s possible that a job is 1/2 a person. That is, marketing manager and sales manager could be one person. The challenge with splitting people is that the job that gets the most attention is often the easiest job, and not necessarily the job that will produce the most results if done well. Even without you appearing in any spot at all in your business machine – as the owner you will always be very busy.
"Business Machine Chart" is a Tool in The School of Entrepreneurship
In many cases, in a business of over 20 employees, the owner should not have a job on your “Business Machine Chart.” In nearly all cases, in a business with over 60 employees, the owner should not have a job that shows on your “Business Machine Chart”. So what should the owner be doing?
Take a Look at What Areas You Work in Now…
- Is it possible that you can do all these jobs at the same time?
- Is it possible that you can do all these jobs well?
- Have you been rushing through jobs that need more attention because you don’t have the time?
- What else do you notice?
- In order to accomplish your 5-year goals, will you have to do it differently?
What the Owner Should Be Doing
High Value Activities (HVAs)
HVAs - High Value Activities are those activities that produce big, important or lasting results. If you ignore HVAs long enough, they will become urgent and negative and prevent you from ever accomplishing your goals. You need to stay focused on the HVAs and let others do the LVAs (Low Value Activities).
High Value Activities are ones that the owner must focus on to bring their personal goals (income, satisfaction, family) and business goals (cash calculator, business machine) into reality quickly.
High Value Activities are often the first activities to get pushed to the back burner and subject to procrastination as the day to day challenges come up. Too often business owners believe there are many things that only they can do. And, it’s true, quite often the owner is the best at many activities. But trying to do too much, they wind up not doing things to the best of their ability or having to delay many things that “only they can do” until they find the time.
Work ON Your Business Not IN Your Business
When you are doing HVAs, you’re working ON your business. When you are doing Low Value Activities (LVAs) you’re working IN your business.
Working on Your Business is a module in The School of Entrepreneurship. The Free Trial is Back, Sign Up Here!