As an entrepreneur every bit of your time is precious and now your time has a dollar figure on it! You cannot afford to do things that you can pay someone else to do nor the things you aren’t equipped to do and do well!
Your business is new and so right now you’re the sales team, the receptionist, the closer of the deals, the CEO, the VP and the MVP; you’re everything! It only makes sense that you leverage your time. The first part of leveraging your time involves deciding the duties that only you can do! In the beginning, conservative building of your business means wearing many hats before you begin to hire. The first hat that should be lifted or outsourced is probably marketing followed by bookkeeping!
Yes, Elite Expert is honest! So having someone professionally market your business is the best way to make sure that since you built it, they know about it and can come! The next thing is bookkeeping. I didn’t say CPA, although you need one of them as well, but I said bookkeeping! Bookkeeping is designed to monitor, maintain, sort and provide a picture of your day-to-day operations through financial reporting. It provides forecasting and budgeting as well as ensures that your bank and credit card statements are reconciled monthly for accuracy in your finances. It will be the professional bookkeeping and consulting that ensures you, the owner, has the proper setup of financial systems and so much more! That’s 20% of your business and an important 20%!
80% of your time should be spent doing the things that make your company money! From meeting with potential new clients to prospective investors; networking with other businesses, introducing your company and its services into the community by attending community events. Your time as an entrepreneur should be spent building your brand, allowing people to know who you are and what you do and outsource the 20% to other businesses.
~~It’s Elite Expert’s 80/20 Rule of Business and it works! ~~
