If your business is a mess, your life is a mess. If you find yourself wasting time or energy, then it’s time to clean up. Entrepreneur interviews Julie Morgenstern, author of Never Check E-mail in the Morning: And Other Unexpected Strategies for Making Your Work Life Work, who offers some tips on how to clean up your business. Here’s one:
Morgenstern estimates that 75 to 80 percent of the small and midsize businesses she consults with waste employee salaries, including their own, by not focusing each person’s time on the optimal task for that person. Kristin Marquet, founder of communications firm Marquet Media in New York City, found this to be her experience. When she mapped out how she was spending her time, she found she was devoting about 10 hours each week to administrative tasks. At her hourly rate of $100, she estimates she lost approximately $10,000 by trying to do everything herself. After that realization, Marquet hired a bookkeeper, writer and website designer, who cost one-forth of the revenue she would have lost if she had handled the tasks herself. “Although you may feel as if you don’t have time to train anyone, spending six hours training someone on a two-hour-per-week task saves you nearly 100 hours per year,” Morgenstern says.
Full story at Entrepreneur.
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