4 tips for stressed-out business owners to maximize productivity.
With a plethora of self-help books, productivity gurus, and a new optimization hack every week, it can be hard to weed out what actually works. Despite this, work optimization and maximizing productivity are essential for a business to ensure that it is getting a sufficient reward for its risk and that resources are well-spent.
So, we’ve compiled a short list of our tried and true tips to maximize productivity.
- Write everything down.
Simple yet effective. Stoic philosopher Seneca said, “We suffer more in imagination than in reality.” This is true today. Many times, simply the reality of having a seemingly innumerable list of ‘to-dos’ swirling in our mind makes us believe it’s all impossible to get done, cortisol levels rise and we are extremely stressed. However, being able to visually see the length and breadth of what needs to be done, in full view, makes it digestible, and we are often surprised at how feasible it actually turns out to be. From here, you can then go on to planning and prioritizing
- Prioritize: Should’s vs Must’s
With the aforementioned ‘to-do’s’, despite being written down, they may still seem insurmountable, as getting a business going is no small feat, and has many moving parts. However, what might be best is to give them levels of priority, and if something is not urgent, you mustn’t even consider it at all. At least not in the immediate moment. This will actually create a forward momentum instead of having a slew of ‘half-completed’ tasks.
- Work Sprints
You’ve already heard the phrase ‘Work smart, not hard.’ This is especially true for small business owners who say they’ll work on the business all day every day but simply crash, with most of the hours having been spent scrolling on social media or getting into youtube or research rabbit holes. What is most effective is to incorporate work sprints; meaning designated small to medium-length durations, where you have a specific, measurable task and solely work on it without your phone, unnecessary tabs, and other distractions. This will bring out greater rewards on your time than the previous method. You can incorporate a few of these in your day, and watch that to-do list disappear.
- Delegate, Delegate…and Delegate.
You may not want to hear this, but the problem might be… you. You may be doing too much, so you end up being the bottleneck hindering your overall progress, bogged down by menial and time-squandering tasks. Despite the temptation of every entrepreneur to be apprehensive about hiring or paying anyone to help them, that may be the best way to move forward. Sometimes it takes spending money to earn money, and having someone deal with the less essential tasks, leaves you with more time and mental focus to concentrate on the growth-inducing tasks and decisions you need to execute.
We’re on your team! We hope that these tips will serve you well, and we cannot wait to hear your future (or present) success stories!
The Alliance to Save the American Dream is a non-profit organization dedicated to three core goals.
1. Develop an Ideas Factory to give small businesses and industries a centralized place to share innovative ideas that must be considered.
2. Build a unique Resources portal for small businesses to go to for answers or resources that address a wide range of issues or challenges.
3. Offer a new networking opportunity for small business owners to connect while also giving them a platform to share their own personal stories. For more information, visit savetheamericandream.com.
Small Business Owners are concerned about the future… Here’s what you can do.
The outlook of small business owners (SBO’s) differs based on location, industry, support, and many other factors. SBO’s are concerned about a great many things, but now it seems the #1 concern is… you guessed it, the economy.
CNBC’s Small Business Surveys of over 2,200 small businesses convey current sentiments of small business owners.
From this collection of surveys, 45% of owners are confident about current business and market conditions and more than 40% project revenue increases in the coming year. However, recent changes in the banking system and money markets leave many uncertain. 91% of those surveyed said it was their principal concern while planning and conducting business.
The FED has recently increased interest rates, with SBA (Small Business Administration) prime rates now at 8.25%. This is a huge increase from lower rates below 3% in 2020-2021. Naturally, this makes securing funding from banking institutions quite difficult and risky for some small businesses. The banking insecurity goes even further. With the recent closing of regional banks such as Silicon Valley Bank, Signature Bank and First Republic, many SBO’s are thinking more intently about their options for securing funding.
Find out more from CNBC here
Here’s what you can do:
To combat these changes some business owners are maximizing on already existing lines of credit, in order to avoid undergoing the approval process again, and receiving the higher rates. Some are also reevaluating growth opportunities previously planned, as those may require even more means of funding, with the possibility of failing to meet future payments.
The markets are always in flux, so do not be discouraged, but be determined. These times only call for resourcefulness and your business is worth fighting for!
The Alliance to Save the American Dream is a non-profit organization dedicated to three core goals.
1. Develop an Ideas Factory to give small businesses and industries a centralized place to share innovative ideas that must be considered.
2. Build a unique Resources portal for small businesses to go to for answers or resources that address a wide range of issues or challenges.
3. Offer a new networking opportunity for small business owners to connect while also giving them a platform to share their own personal stories. For more information, visit savetheamericandream.com.
