Conference 2022: How can I work smarter not harder in my business?!

How can I work smarter not harder in my business?!

When you first started up (or joined) your fencing business, you were probably looking forward to a lifestyle business, where you could enjoy the scenery, escape the rat race, and maybe even enjoy doing something together with your spouse if you are in business with them.

Fast forward to today, and the reality might look quite different.

• You are working more hours than ever • There is a pile of work out there, and you are worried that if you don’t

‘make hay while the sun shines’ then the bubble will burst, and you will be financially strained

• Your customers are stressed (some can be particularly demanding) and you don’t like pushing back on their price or timeline expectations, after all, you pride yourself on your outstanding customer service. • Sometimes you feel like an imposter, wondering if you really are cut out for running your own business, and that doesn’t feel very good. What’s more, if you are in business with a family member, you might find that it is consuming you both day and night and there is simply no time to switch off.

So much for your previous rat race, suddenly the idea of working in a 9 to 5 job, where all you need to do is show up, is looking way more appealing.

And is there even an end in sight? Well, the answer is, unless you change the way you work, the end may very well be a health issue (particularly mental health), a crisis or sadly even a marriage break up.

So, what can you do about it?

Here is a simple road map to help you feel more confident about your future and be able to switch off and have more down time. STEP ONE

Work out exactly where you are right now

As human beings, we tend to focus on the negatives not the positives, or ‘deficit thinking’. It’s all about neuropsychology and being hard wired to keep a watch on threats that have long since stopped being a reality (it’s just our operating system hasn’t caught up). Here’s how to work out exactly where you are right now, in many situations you may discover things aren’t quite as bad as you think they are. 1. Stop and take a deep breath (this is probably about the most important step; we need to slow down to speed up).

2. Think about the following areas and ask yourself questions which will provide you with an accurate assessment of where you are right now, here are some examples.

Finance

• Am I happy with what I am earning? • Do my margins cover my expenses and give me enough profit?

• Do I have a pricing model that keeps me on track for doing profitable work?

Workload

• How does my upcoming work look?

• What is my own workload like? Do I often work after hours?

• Do I have systems in place which save me time?

• Is there any type of work that I am particularly good at, or like? • Is there any type of work which looks like it is becoming more in demand?

People

• Are my fellow workers engaged?

Productive?

• Do we have an open environment where we can talk freely? • Do we all work well together?

Can we stick to what we each are meant to be doing, and muck in when needed?

• Do I have access to experts who can help me? Eg admin, accounting, marketing, pricing, networking, coaching?

Customer

• Do I know who my ‘ideal customer’ is, eg pays on time, doesn’t change their mind, understands realistic timeframes, pays me what

I am worth?

• How many of my existing customers are ‘ideal’ or close to it?

How many are high maintenance and may even cost me money?

Self

• How is my work impacting my personal life? • Do I have a simple way of winding down?

Once you have reflected on these areas, you will have a better idea of where you are. This might sound obvious, but time and time again, people don’t stop to assess their current situation.

Decide (and agree with any partner) where you want to be

What do you want out of your business? So many of us never stop to think about this. We know what sports team or Netflix series we like to watch, but we don’t know what we want out of something we are involved with, day in day out.

Have a look at each of the five areas above, and ask yourself, what would they ideally look like? In fact, better still, what would ‘satisfactory’ look like? Sometimes we are unrealistic with what we want, but there is nothing unrealistic about wanting a satisfactory work life blend where you can switch off from work regularly. Involve a partner if they work with you. For each area, write down a paragraph that captures your goals. As an example, for customers it might be

“I have a select group of customers, who pay on time, pay me well and appreciate my value. They understand the reality of the current situation and trust that I am working as well as I can to deliver what they need in a professional and timely manner.”

STEP THREE

Work out a simple plan to get there and get some help to make it happen

Once you have worked out what you want, the final step is so much easier. It’s when we continue to exist in a vicious cycle of survival and lack of clarity on direction and priorities that we don’t know what to do.

Here are three simple parts to a plan, which could not only help you feel less stressed, but also deliver a profitable and consistent return on your business,

1. Refine your business model

Trying to be all things to all people is exhausting. Is there a type of customer you particularly work well with? How about specialising? Are there any customers who you could let go of? A scary thought, but when we are selective and focused on who we work with, we have a better chance of delivering value and generating consistent profit.

2. Set up boundaries

Your whole business is about boundaries. What about the boundaries you set yourself? Identify (to start with) a couple of nights of the week where you won’t work after dinner. Plan a trip away, even a short and inexpensive one.

If you work with your partner, agree with them when you can talk about work, and when you can’t. Review your agreements with your customers and see if you can introduce a bit more wiggle room around deadlines and pricing. They can be a lot more reasonable than we imagine, so often the challenge is that we never ask them!

Quietly let go of any customers who are causing you too much stress and are quite simply a hassle in your life.

Health boundaries are especially important. Be mindful of any sleep or eating patterns that drain your energy. Make sure you place priority on your personal activities, this goes a long way in making sure you get replenished and can stay on top of your game during your work hours.

3. Get help!

Are you doing it all on your own? When anyone offers help, do you politely decline? As humans, we rely on each other way more than we realise, and trying to be independent all the time will not help you get what you want. Hiring an expert or business coach who can look at your business model or accounting system might sound expensive but could save you thousands in the long run.

Are there jobs that you do as the business owner that a local contractor could do instead?

And finally, do you have someone in your life who can hold you to account? Eg make sure you follow through on the commitments you have made on your plan?

By putting aside a few hours, where you can assess where you are, work out what good looks like and draft up a plan to focus on what next, the future may in fact look better than it did!

Article supplied by Laurel McLay