Business Time Defined

Time Pic
Posted In: , ,

We’ve all heard the saying that “work expands to fill the time allotted”.

As a business owner, there are different types of time:

  • Work you’re paid for on an hourly basis
  • Work you’re paid for on a value (totally subjective!) basis
  • Leveraged work
  • Work that can be scaled into consistently higher leveraged work
  • Work that gives you a negative return because you significantly procrastinated or focused on the wrong thing
  • Work that’s admin/non-revenue generating and must be done (by someone) if your business is to succeed

Let’s focus on leveraged work which has the ability to effectively remove time from the equation. 

Leveraged work is work you do once and it has the ability to generate benefits (revenue, time savings, effort savings, client care, etc.) again and again.

What leveraged work do you currently perform? If you’re still trading dollars for hours, here are some examples to consider based on your business model.

  • A recurring investment membership program. Our Get It Done Right Community has been around for 13+ years with the average member staying over 8 years. Every single thing we do for that program lives in our online portal for members to access as desired.
  • A group program where you’re paid from several people for the same work, especially leveraged when you turn it into an on-demand course.
  • Online on-demand self-study courses (singular or paired with periodic group Q&A calls).
  • Repurposing content through your email broadcasts, including on your website/blog, on social media, on Medium and anywhere else it makes sense.
  • Hiring a strong team/team member to take X off your plate so you can focus on the above.

We’re seven months into 2023. If you could add just one leveraged  “thing” this year, what would it be? What’s holding you back?