7 Essential Keys for Building a Time-Leveraging Business System for Success
You’ve heard it before work smarter, not harder.
It sounds great in theory, and at times, you nail it in practice. But the truth is when you are an entrepreneur, it can be hard to get out from under the long to-do list that consumes all your time and get on top of the business so that you can lead more proactively by identifying problems and creating solutions in a manner that is leveraging your time and profits.
And you’re not alone.
Most entrepreneurs begin their business from scratch and build themselves a role inside of the company that is reliant on them. Many entrepreneurs are a key decision maker and problem solver in many departments of their business, from marketing to management to accounting.
And at some point, the business owner will reach a bottleneck of being stuck and unable to achieve larger goals and ideas because they don't have the extra time or energy day after day.
It is at this point that learning to leverage your time and build a new business model is crucial to the future of your business.
Without creating a system that supports your next level of success you may find yourself in a position of profit plateaus, burnout and at risk to the uncertainties of the market and the quickly changing demands in today's business landscape.
In this blog post, we will be discussing the 7 keys to a business system that will allow you to leverage your time.
With the following seven keys and the right systems in place at the core of your business, you will no longer feel like you are under constant pressure to do more in your business.
If you want to learn more about building your own business systems you can download a free copy of our e-book “The Unbreakable Entrepreneur: Creating a Business with Resilience at Its Core” by clicking here.
Inside our e-book we teach you how to create your own business model that will leverage your time and create more profits.
Here are seven keys to a time-leveraging business system that increases profits:
1 || Support your goals with a framework:
As the leader of your business, you call the shots. What you spend your time on today will directly influence your business results one year from now.
Without a clear system and focus in place, it's all too easy to get held back by the day-to-day tasks that inevitably arise, leaving you with little time for the activities that will truly drive your business forward in the long run.
Most of the time business owners know the bigger picture ideas they have for their business but it’s easy to put them on the back burner. By utilizing a framework it gives the entrepreneur focus and a plan so they no longer get swept away in putting out fires.
Here is the framework we use with our clients that helps them identify targets, create the necessary tasks to reach their goals and continue to improve their business. By sticking to the framework you will support yourself in changing your habits so you can leverage more of your time.
You can learn more about our signature framework in our free e-book here: https://wagnerbusinessconsulting.com/the-unbreakable-entrepreneur
“What you spend your time on today will directly influence your business results one year from now. ”
2 || Delegate tasks:
Delegation is another important skill for business owners to master. By delegating tasks to team members or outsourcing to contractors, you can free up your time to focus on higher-level tasks.
We also know that delegation can be challenging, and many business owners struggle to delegate effectively. Ineffective delegation can leave you feeling as though its easier just to keep doing some tasks yourself.
That's why it's important to learn how to delegate properly, by clearly communicating expectations, providing support and guidance with proper systems and procedures, and monitoring progress with the proper controls. When you delegate properly you can remove pressure off your shoulders and experience peace of mind as tasks are completed effectively and efficiently.
Delegation is key to maximizing the value of your time as you focus on your bigger picture goals that will really drive the needle at year end.
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3 || Automate tasks and streamline workflows:
Another key to maximizing your time and productivity as a business owner is to automate repetitive tasks and streamline workflows. Take a look at your current workflows across your business. Are there any tasks that could be simplified, are repetitive or maybe even need to be automated with tech?
Streamlining your workflows can help you save time, reduce expenses, and increase efficiency across your business. There are many tools and technologies available today that can help you automate tasks and streamline workflows. By leveraging these tools, you can free up more time to focus on high-level tasks that require your unique skills and expertise while at the same time reducing expenses and building a more scalable business model.
4 || Focus on your strengths:
As a business owner, it's important to recognize your strengths and weaknesses, and to focus on tasks that play to your strengths. By doing so, you can maximize your productivity and effectiveness, and ensure that you are making the most of your time. This may mean delegating tasks that don't play to your strengths, or outsourcing non-core functions to others who are better equipped to handle them.
The framework we previously mentioned can help you identify your areas of focus and the tasks that should be delegated. You may also want to consider your key employees and their strengths as well. Do they have the proper roles within your company?
You can learn more about the framework and how to apply it by reading our free e-book here.
5 || Adopt a scalable business model:
To achieve long-term success as a business owner, it's important to adopt a scalable business model. This means creating a system with processes, controls, metrics, and delegation at its center, so that the business can expand rapidly and safely.
When your business model is prepared to scale and take on challenges your time can be spent on increasing revenue safely and without creating extra unwanted headaches for you to manage.
By creating the proper business model foundation you can avoid productivity chokeholds and other issues that can arise when a business grows too quickly without the right systems and processes in place.
6 || Use data to make decisions:
By tracking and analyzing key metrics in your business, you can make informed decisions about how to best use your time and resources.
This may mean monitoring metrics like revenue, customer acquisition cost, and customer retention rate, and using that information to guide your decision-making process.
By doing so, you can ensure that you are focusing on the most important tasks, and that you are using your time and resources effectively.
7 || Outsource non-core functions:
Finally, outsourcing non-core functions like accounting, IT, and HR can be a great way to free up your time and focus on the core functions of your business.
By outsourcing these functions to others who are better equipped to handle them, you can ensure that they are being handled properly and with less of your time.
What role do you currently play in your business?
Are there any time-leveraging concepts that you could begin applying to your business?
Most entrepreneurs are naturally growth-oriented. It can feel frustrating and exhausting when you know you want to achieve more in a year but become lost in the busy work.
We highly recommend building a business model at the core of your business that will support you with the proper systems and framework to succeed to your fullest potential.
You can learn how to start building your own efficient business model here: https://wagnerbusinessconsulting.com/the-unbreakable-entrepreneur
If you have questions about your business model, you can setup a free strategy consultation with a member of our team here: https://wagnerbusinessconsulting.com/strategyconsultation
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While your competitors may freeze or pull back in these uncertain economic times. Get the support you need to become innovative and grow. If you can learn how to thrive in times like these. Just imagine what your team will be able to achieve in the future.
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