Let’s start with the most basic lesson; the one you must understand before you can grow any business.
Here’s what you do:
Calculate the amount of money that you want to make in a year, the amount that you make in a year, or the amount your business makes in profit.
Let’s say that you’re at R1 500 000 a year just as an example.
Now divide R1 500 000 by the number of days that you work in a year.
Let’s say 250. So, R1 500 000 divided by 250 = R6 000 a day.
That’s what you are worth. That’s the exact Rand amount that you are trading your time for.
Now divide that R6000 by a typical 8-hour day. That equals R750 an hour.
If you are spending your time doing work that can be outsourced for R100, then there is a big problem.
Whether this is occurring in your own business or your day job or wherever it’s not right, and it’s not going to get you where you need to be.
No matter how you analyze it, doing work for R100 an hour when you are getting paid R750 an hour is not the right thing to do.
What ends up happening, believe it or not, is that the R100 an hour assignment is almost always more demanding. Getting the accounting done, and dealing with social media is often more demanding than designing the sales strategy for the next calendar year or focusing on core business.
The important task continually gets pushed back and soon your schedule is filled with these R100 an hour tasks.
Takeaway #1: When running a business, you can’t do everything yourself.
Consider outsourcing your non-core operations like social media or market research to The Agency.
You might also want to know how social media can help your business flourish.