Welcome to the ninth installment of the Top 10 Tips for Financial Success blog series, where we hit the books to better manage your books!
Whether you’re a small business or a solopreneur, these 10 tips are vital to your bottom line!
Tip Number 9: Focus your time on your passion.
Each business owner I know launched their business based on a passion. Attorneys love the law; writers connect to the written word; photographers are driven by creating beautiful images and capturing moments in time. The types of businesses may vary, but my clients love what they do and cannot imagine their life doing anything else.
Also: None of them are passionate about bookkeeping.
Now, that’s good news for me because bookkeeping is MY passion. I love numbers, balancing books, and working alongside clients as their businesses grow, while they continue to focus on what they do best.
But Beth, there’s so much other stuff going on in my business! How do I get back to my passion?
The answer is simple: Delegate.
Hand off those tasks you aren’t passionate about, and you can spend more time on what you love most about your business.
Don’t like dealing with finances? Hire a bookkeeper. Are you worn out by managing your social media posts on multiple platforms? Hire a virtual assistant to manage them for you. (Do you think that I made these cute little pictures myself?) Hate writing blogs? Hire a copywriter.
As a wise woman once said, “Focus on what only you can do. Give the rest away.”
How delegating makes you money.
Think about the most significant product or service you offer (hint: the one that brings in the most money). Then think about the time you are spending on an unrelated task that you either don’t like or don’t have enough skill to do. Wouldn’t that time be better spent calling clients and networking to bring in business in the form of your biggest offering? Of course it would!
Invest a little bit of money in having somebody else take on the tasks you don’t want to deal with, or don’t feel confident handling, and spend your time practicing your craft and building a business around it.
For example, while bookkeeping and finances are my passion, I’m not too fond of writing, and I don’t have time for marketing. So, what did I do? I hired a marketing team and a copywriter to take care of my social media tasks, and (truth be told) this blog! (I hired professionals who are incredible at taking my raw thoughts and turning them into something that 100% reflects me!) <—- I added that last line myself. I want to spend time building my business, signing new clients, and managing my clients’ books. Yep! Following my passion!
The Bottom Line
The moral of the story here? Focus on your passion and outsource what you aren’t as excited about, or don’t have the skill to do. Whether it’s bookkeeping, scheduling appointments, or building your website, if it’s something you dread doing, or it will take you loads of time to learn, it’s time to find someone to do it for you.
At Beth Blaney & Associates, our top concern is providing small businesses and solopreneurs freedom from the number-crunching and office work that pulls them from their fields of expertise. We are dedicated to helping and empowering business owners!