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DO THE DAMN THING Audio Experience
DO THE DAMN THING Audio Experience
Money Series: Evolving the Task-Handling Mechanism for Business Profitability
Have you ever felt like you were throwing money down the drain because you were caught up in the operational tasks of your business? If you've found yourself in the CEO seat, but your time is spent elsewhere, this episode is your wake-up call. We're getting real about how CEOs and business leaders can pivot their focus, optimize how tasks are assigned, and increase profitability. From identifying and focusing on 'A' tasks to nurturing the growth of your team’s skills, knowledge, and capacity, we're leaving no stone unturned.
In the second half, we're dishing out practical tips on how to use tools like Boomerang and other systems to maximize efficiency. We highlight the power of delegation and digging into the importance of knowing which tasks to prioritize for the sake of your company's bottom line. Wrapping up the conversation, we discuss ways to identify and assign the right tasks to increase efficiency and profitability. Listen in and prepare to revolutionize your task management approach - your pocketbook will thank you!
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All right. So this money thing is real. I'm going to get back into strategies, but today I've been deep in brand people and products. So this is an A task. The number one way I watch CEOs just throw money down the drain is by not appropriating I hope I said that right word, right not appropriating the right task for the right person, including themselves. I teach this concept to private clients and it's stupidly important to know in a company, because you could hire for a person, but you have them doing B tasks and as much as you're like. Well, tiffany, everybody has to pitch in. Trust me, I get it Like. I hear you and I hear you more than anybody.
Speaker 1:But truth is, typically when you hire someone especially when they're on salary or something close to it they have a specialty, there's something that they're really great at, and your responsibility as a CEO or your responsibility as a leader is to develop that thing and to help them grow. Help them grow on their skill, their knowledge and their capacity, and it's not just for the sake of helping them grow, but it's like it's their career too and you get to play a role, especially if you're in small business and managing that. So if you constantly have them doing like if they're an A, if they're paid as an A player on your team, and you constantly have them doing B and C tasks, then that's where you're losing money, because if that task is like $100 an hour but you have them doing like answering phones, right, and answering phones might be $30 an hour I'm not knocking anybody who answers phones, trust me, I answer phones all the time but if their responsibility is, if they are doing that, that task, that thing, you're throwing away a ridiculous amount of money. Let me just bring it back to the CEO. Tiffany, you don't understand all the things I worked on, all the things I'm doing. Yeah, you do them better, but it doesn't mean that you do them best. That's first and second. My good friend, mark Stoner he has. He really set the bar at one of our events a couple of years ago when he said you know we were talking about hiring and how we hire and scaling, and he said to the audience that he is okay with hiring and getting 60% of the task done because that 60% of the task gets him back his time. For me it was like perfect, because the first thing I want you to do is ask yourself like, if you think about the last seven days, the things you're working on, the projects where you put your nose in, that it doesn't belong, was it an A task? So A means that it is revenue, dollars, c level, material, b task for me, or anything. That is, anything that is customer service, customer service driven or, ehm, routine driven. This is where I'm looking at a B task, and not that they're not important, but they can be done off hours. They can be done in other ways. They could be handled in groups. They don't require a lot of specialty. Sometimes it just takes some common sense to get through these things.
Speaker 1:And then the third, last but definitely not least, is operations. I get so angry whenever I see CEOs. We're like I'm all over the place, I need money, things are going bad and they're doing all of that, but yet they're spending all their time in operations. Ceo, listen to me, you are not the COO and I don't care if you don't have one. You're like Tiffany, I am the CMO, cfo and COO. Okay, well, coo yourself after five o'clock. Like, what are you talking about? You cannot be broke. And the COO? I'm gonna tell you right now you cannot be broke. Your company cannot be all replaced, money cannot be really tight, cash flow cannot be in trouble and you are the COO eight to five o'clock in your company. You're bugging. That is not the way we win. You gotta sit in that CEO seat. You definitely gotta sit in that sales seat. You have to be the vice president of sales yesterday.
Speaker 1:So operational things. Let me tell you what's operational IRS opening up the mail, responding to the city, dealing with a crazy thing that's happening and, if you have a lawsuit on hand, taking care of the details for the trip that you're planning Now. Tiffany, you don't understand. This thing is only open eight to five, so I have to spend some time. Okay, lucy, spend time Monday from like nine to 11, but not all four out of the seven days of the week doing operational things clicking behind your computer and being comfortable with people and talking, writing emails. Respond to all the emails after seven. Respond to all the emails after seven. You know why? Because you can use something like I think it's called. Uh, boomerang is free. You could write all your emails at seven o'clock. They hit the person the next morning. Boomerang for Google is the best thing that ever happened. You can write all the emails you want and it schedules them whenever you want them to go out.
Speaker 1:You cannot spend your time in operations land. You are not, uh, going to win that way. You also cannot be doing C and B task when a is the only thing that's going to pay the bills or move the needle. Let me tell you what our A task for CEO um meeting with people who can help you move products and services. Meeting with team members about products and services, getting on the phone, talking to old clients, building big relationships, bigger relationships. Um, renewing or redesigning programs offers, cutting costs, expenses. And I say cutting costs I don't mean, like reducing your phone bill, that's not what I'm talking about. I mean being able to figure out how to deliver the same level of service that you've been doing and serving your people, but being a little leaner in its approach, or at least initiating the conversation for it to happen.
Speaker 1:The name of the game is not only for you to win more, but the name of the game is for you to focus all of your effort on A task. Do I do some B tasks? Absolutely. Do I do some C tasks? And D and F? Absolutely.
Speaker 1:But if I had to give the percentage, the second that I start fooling around with customer service stuff in any company I own. Our company loses money. I'm too. I am too valuable per hour for me to take the hour and dive into something that doesn't serve everybody. And it's not about being bigger than anybody, because I'm not. I'm on a team and everybody on the team needs to do whatever their job is to the 100% of their ability, because we all want to win and we want to win together, but we can't win together. If I'm doing my job at 84% and I'm also stepping, I'm also stepping in boundaries where I don't belong. Well, tiffany, there's too much task and too much to get done. I get it. So if you're like Tiffany, I got a.
Speaker 1:There's a lot of operational things that are, you know, falling to the wayside. Well then, you need to pick an operational day, because for me, I've been there and it will be like Saturday morning or Sunday night. I'm going to sit down for four to five hours and do all the IRS. I'm going to do all the emails, all the checks and balances in one time, the things that I cannot handle or that are out of my pay grade, meaning, in terms of time, I'm not going to sit and what am I not going to do? I'm not going to go and hire a whole person to do it.
Speaker 1:As tempting as it is for a lot of people, you really could just have someone help you by the hour. You know, one of my favorite websites ever is thumbtackcom. Thumbtack allows you to find an in-person person to help you with even simplest things like bookkeeping. You can find help there. If it's not there, it's going to be like Upwork Online. You can pay someone by the hour, by the day or by the project. Chances are you spend the $200 and you get $20,000 in return. $2,000 in return versus us spending $2,000 of your time and getting $500 of return.
Speaker 1:You get what I'm saying. So simple question Look at the last 30 days, look at the last 24 hours. Ask yourself was this an A task, a B task or a C task? That's absolutely going to let you know quickly where am I losing money in these streets and how do I button this thing up so I can really really scale? Because you cannot, as I was reminded recently, you cannot be in a boat and you have people and or yourself drilling holes on the right hand side while you're doing this on the left. Buttoning up who's doing what, when are they doing it, how long is it taking them and how much does it cost you, is absolutely the clearest, cleanest way to clean up any dollar gap in front of you and to make more money.
