Have you ever completed a grueling week in your business, felt exhausted at the end of the week but had no financial gain to show for all your efforts?

Do you often find yourself doing tasks in your business that you could have, and shouldToo-busy22 have delegated properly to a team member, or outsourced to another party?

Do you work more hours in your business than anyone else?

If the answer is “yes” to any of these questions then you need to stop and assess yourself and your business.

You could be costing your business a fortune.

I recently asked a client to do a time study because he seemed to always be very busy but had very little to show for his efforts. His debtors were running at a quarter of his turnover, he was falling behind in his payments to suppliers. He was not getting to all customer enquiries and as a result was losing business to inferior competitors. While he worked in a price sensitive business, being on time and being in a position to do the work would give you an additional 5% margin.

When we analysed his time – the results were staggering:

  • He worked 90 hours over 10 consecutive days.
  • He spend 40 hours managing deliveries, loading and unloading, organising the warehouse, etc.
  • He spent 10 hours on deliveries, driving the van and also on collection from suppliers.
  • He spent about 4 hours on sales and dealing with customers
  • He spent 10 hours sorting out issues that his team handed to him, from pricing to customer complaints.
  • He spent 2 hours on the financial aspects of his business
  • He spent 1 hour collecting money
  • The rest of the time was spent on trivial tasks/
  • He did not meet his team at all

This man’s business was in trouble. It was in trouble because he had not delegated and he had not introduced any accountability to the team. He did not like confrontation and he felt that it would always be quicker if he did it himself.

I worked with this client on hiring one team member to do all the warehouse, stock and deliveries. We introduced proper roles for all the team and carried out some training and reporting. We focused more effort on credit control collecting about 70k additional in 6 weeks. We also went to work on selling, converting more enquiries in less time.

If your business is not performing well because your your inability to manage yourself, call me today on 087 222 0720

until next time…

About the author,

Hi I’m Derek O’Dwyer. I have been an ActionCOACH for the last 18 years. I live in Clare and work with businesses around Ireland to take their business to the next level. I am passionate about business and providing help and advice. In the past 18 years I have worked with over 400 business owners helping them and their business. I adapt my coaching depending on what you and your business need. I find that each coaching relationship is different but as long as we understand that we have a common objective with timescales, positive things happen quickly. I am a firm believer i the concept of “what you can measure you can manage” and “what you measure you can improve”. Key performance indicators and accountability form the bedrock of my coaching platforms. If making more money from your business, working less hours in your business and having a great team running your business then it’s worth having a discussion with me. If you are willing to implement changes I will be there to help every step of the way. In terms of personal accolades and recognition I have been awarded ActionCOACH of the year in Ireland every year for the last ten years In 2019 I was inducted into the ActionCOACH Global Hall Of Fame I was global Rookie Coach of The Year in 2002 having achieved remarkable success as the first ActionCOACH in Europe. Many of my clients have also received awards from their peers for their business improvements.