Managing you, your team and your business. That’s a lot of leadership, time management, organisation and potential headaches. Nailing it is obviously key to success and longevity, but it’s easier said than done.
When we did a whirlwind trip to Sydney a few weeks ago to participate in the CPA Public Practice Intensive, we read a lot of Jason Cunningham’s work on practice management. Here are the key things we pulled out of it: amazing advice for any business owner.
- Managing your practice (business)
What processes and systems do you have in place? For instance, could you hire a new team member and provide them with a clear method of how to complete particular tasks? Maybe you don’t actually have a written job description for them and it’s all a bit ad hoc. That’s okay, when you’re a micro business not wanting to grow. For the sake of efficiency and scalability, your systems and processes are vital pieces to your overall puzzle.
As new tasks arise and your workload expands, start writing your processes as you go so it doesn’t become a gargantuan task that never gets done properly.
- Managing you and your time
Anyone with a job knows that balancing work and life is a task. Anyone who’s a business owner knows that the struggle can be tenfold when you’re working for yourself. This one isn’t just referring to making sure you’ve got enough time with your partner and keeping yourself healthy (and sane), but it’s also referring to the fact that your time within your business is precious. Are you making the most of it? Start delegating the small tasks elsewhere, outsourcing for specialities like social media, web management and IT services, and prioritising urgent tasks over things that can wait.
Have you heard of Koch’s 80/20 rule? His research suggests that 80 per cent of results come from 20 per cent of your effort, and we think he’s about right. Consider it tomorrow when you plan your day.
We are huge believers in health and fitness contributing to our success. Get a PT if you can’t motivate yourself, find a new author you love to read or partner up with a friend and make sure you keep each other accountable. This isn’t ground-breaking stuff, it’s honestly just common sense. You’ve head about it, you’ve read about it, but what are you doing about it?
- Managing your team
Your team is your most valuable asset by a mile. Their happiness will mean more efficiency, focus and loyalty. What can you do to make it happen? People find fulfilment in knowing they’re doing their job well and having confidence in their knowledge. Provide excellent training and support, make sure they know they’re valued and involve them in meaningful ways. How to hire well is a whole other kettle of fish, but we suggest you do your research on it because finding the right team is invaluable but can also be tricky.
Educate yourself on business structures and management approaches. You might take a different tact altogether, but knowing what has worked for people in the past is a smart move.
Alright that was a long blog post with a lot of heavy (but very useful) content. So here’s a dad joke to finish 😉
What time did the man go to the dentist? Tooth-hurty.
Okay we’re done now.