Entrepreneurs Skills (Series 1, 4/100): Efficiency

What is efficiency?

It’s the best use of your time and energy, in order not to waste any. In other words, it’s the best use of resources and the least waste of time and effort.

So to be more efficient, it’s important to take a hard look at your days and see how are you spending your most valuable resources (time, energy, attention). Whatever wastes a minute of your time, it should be deleted. From social media to news, to un-anticipated notification on your smartphone. Everything needs to be shut down.

Sounds a bit severe? Well, it should. It’s the only way you can protect your invaluable time in today’s world, where you are interupted constantly every day.

Why efficiency is so importnat for entrepreneurs?

As a future entrepreneur, you will have an endless amount of tasks, especially at the beginning when you are a solopreneur. You have to build your website, create your marketing campaigns, speak with prospects, respond to your loyal customers…

And as we know, we have a limited amount of time. So in order to do what matters every day, to move your business forward and succeed, you must make the most out of your time, energy, and effort.

Not being efficient in your daily activities, means wasting your time on things that won’t help to grow your business. This means it’s probably the way that will push you back to find a job in a career that you don’t really like.

So, efficiency is a golden key.

You can’t do everything

When we start our journey as entrepreneurs we tend to do everything by ourselves. Sometimes we don’t have the cash to delegate, so we are kind of obliged. This is a sacrifice that, I believe, every successful entrepreneur has paid.

Once you get through this phase, you will be able to hire someone and delegate some of your tasks to them.

But remember even when you are alone, you can’t do everything. This is why it’s important to focus on what is urgent and important to get it done. Try not to start your day by doing “not urgent and not important” tasks, those can be happily ignored.

Remember, it’s impossible to do everything.

Focus

When you are working on a certain task. You should focus. Focus 100% on the task at hand, as if, there’s nothing else that matters. This task in your hands should take 100% of your concentration and attention. This means, no social media and no un-wanted notification, on any of the electronic devices.

Create the best team around you

As an entrepreneur, your job is to create a vision, a strategy, and a team. When creating your team, you need to gather the top talents that you can get. This team will make your life easier and your business more efficient.

Creating a culture that rewards people who are being efficient is an incentive for your team to thrive for more efficiency. No time or energy is wasted. The business moves forward and every individual in your team thrives to become self-actualized. So it’s a win-win.

D.A.D

D for Delete. A for Automate. D for Delegate.

As we agreed a minute ago. You won’t be able to do everything. We have to make the best out of our time. So when you are planning your day, your week or your month. Ask yourself, can this taks be happily deleted? If not, is there a way to automate it, with a system or a tool? If not, now you can check if you can delegate it to a member of your team.

When you start as a solopreneur, if you have some cash that you can use for outsourcing, that will free you up. When you have more time, you will be able to focus 100% on the IPA (Income Producing Activities).

A virtual assistant can help tremendously in daily administrative activities, like answering your phone or emails, booking your flights…

Learn from other entrepreneurs

We don’t need to reinvent the wheel. In a fast-moving world, we have to focus on what matters. If we find ourselves struggling to be efficient, we feel that we are wasting time, energy, and effort on tasks that don’t matter, then we can network with other entrepreneurs and learn from them. A simple question like “what makes you so efficient?” can help you to get their best insights.

You don’t know, 1 insight can revolutianize your life.

Processes

Entrepreneurs are obsessed with putting in place processes. Those are guidelines not only for them but for the team that they are building. Let’s say you have a task to accomplish. Writing a blog for exp.

Instead of teaching your employee how you want him/her to write the blog, they can refer to the process and they can accomplish the task.

Even for you, it’s a good idea. Sometimes, we forget the steps that we should take. A process in place can guide us, step by step. This will ensure we don’t waste our time, trying to remember the steps or the actions.

With processes in place, you don’t put time in teaching every new employee the best practices of your organization.

Plan

Finally, to make the most out of your time and energy, I would suggest planning. They say succeed to plan and you are planning to succeed. It’s easier to plan your day, first thing in the morning, and execute your plan for the rest of the day, than, rushing into your day without a plan, and each hour, wondering “now what should I do?”.

It wastes a lot of time to transition between activities.

Thank you for reading, I hope you got some good value. Don’t forget, share with us in the comment below, what are you going to apply in your days, starting today!

All the best,

Elie Abboud,

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