As the son of an accountant, I have an unusual love for systems and spreadsheets. My Dad used to manage a team of 50 accountants as the Financial Controller at Stanley Tools and I’ve been fortunate to have had support over the years with managing my money.
One of the most valuable lessons that my Dad taught me a few years ago was the importance of understanding the link between measuring time and money. Through a series of simple processes, he helped me to see where I was wasting a staggering amount of time and money each month in my business. Everyone knows the phrase ‘time is money’ but few people have the systems in place to effectively measure and monitor the implications of this equation.
Getting things done is one thing.
But getting things done quickly, whilst still maintaining quality, is another.
At the start of the pandemic, I was in a pretty desperate situation. A lot of my income had been coming from live music events and clients signing up for 12-month retainers for services. Both of these areas shut down overnight.
Nobody could host an event and nobody wanted to start a new 12-month financial commitment. We were wondering whether our existing customers (many of whom relied on income from events) would be able to pay us each month.
I had to think fast…and that’s when it hit me.
I needed to move into online training. Sign up for the Jigsaw, our business planning online courses here.
In 2019 I met a guy called Steve. He pioneered an educational-tech company in the nineties that did exceptionally well. With just one business partner and without any investment or a board of directors, he managed to attract 2,000,000 students onto his platform to do accredited degree courses. When they came to sell their company, they had 76 offers and sold for a staggering 9 figures…that’s $100,000,000’s.
Steve had encouraged me to create online courses as a way to get people into our ecosystem as a company. Running free taster courses can nurture people and turn lukewarm traffic into hot buyers. This means significantly less time doing sales meetings and trying to nurture leads manually.
He also taught a principle that has changed how I think. He taught me to ‘build it if they come’.
So many entrepreneurs believe the myth, epitomized by movies like Field Of Dreams if you build it, they will come.
You don’t need to look far to find the carcasses of companies that developed fully-fledged products without first checking whether or not the market really wanted them.
In this free resource, our Make More Time E-Book, I’m going to break these strategies down for you brick by brick so you can save time and money in a way you never thought possible.
Download the Make More Time E-Book by clicking on the blue button below.