Why Making Yourself Dispensable Is The Only Chance You Have Of Growing Your Micro Business

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A lot of micro business owners make the mistake of believing they are indispensable.

In fact, they do everything they can to make themselves indispensable by:

  • Being afraid to outsource
  • Feeling reluctant to pay someone else to do tasks they can handle
  • Believing no one else can do it as well as they do


Warning:


If you hold any of these beliefs - you’re making a clanger

Let me tell you why...

Just recently I wrote a post that encouraged you to figure out your Base Earnings Target.

Time Management Guru Dan Kennedy uses this formula as a guide for business owners to figure out how much each hour of their time must be worth.

It’s an enlightening calculation and one I’d urge you to figure out if you haven’t already done so.


So how much are you worth?


When you know how much your time is potentially worth, you can start assessing the jobs you currently do on a totally different level.

And if you’re spending hours faffing with your bookkeeping or wasting time dealing with writer’s block, it’s time you assess whether these are core tasks you should and need to continue doing.

Smart business owners get clear on how best to use THEIR time.

For example, if you have the potential to earn £80 an hour from your core skill (i.e. the task(s) that only you can do), it’s CRAZY to try to do your own bookkeeping when you could pay a VA say £20 an hour to do it on your behalf.

In addition, that VA will probably do it significantly quicker and more effectively than you can.


And the result?


By outsourcing this task and letting it go you free up time.

And more importantly you make space available in your packed working schedule to work ON your business and focus on developing those aspects of your company only you can do.

In short, you give your business room to breathe and therefore grow.

In comparison, if you fearfully hold onto every task imaginable, here’s what will happen.

  • 1. Some stuff just won’t get done
  • 2. You’ll make mistakes because there’s too much to do
  • 3. You’ll never benefit from fresh eyes revealing new possibilities
  • 4. You’ll waste time doing things that aren’t in your core skill area

But worst of all, you’ll stifle the growth and development of your business AND your’ll reduce your earning potential.


It’s time to let go


Listen. You don’t have to do it all.

In fact, you shouldn’t.

And if you’re wondering what you should let go of, have a read of this simple action plan.

An incredibly simple way to delegate and outsource

1.   Start off by taking a good hard look at your business.
2.   Write down all the jobs you are currently responsible for
3.   Circle the jobs only you can do (be totally honest here)
4.   Work out your base earnings target

Now look at the jobs you have on your list that are outside your core skillset.

Which of these can you outsource at a cheaper rate than your base earnings target?

Next be brave.

If you’re struggling to find the time in your business to work ON it and to grow and develop it, choose one thing that you will outsource.

It could be your phone answering, your bookkeeping, your social media, your advertising.

Finally decide what you will do instead of that activity - and allow your business to grow as a result.


What do you think?


Are you stifling the growth of your business? What could you outsource to another professional to free up time to focus on your core skills? Please let me know in the comments below.

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