R ‘n’ R – Roles and Responsibilities Part 3

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Who is Jacob Aldridge, Business Coach?

“The smart and quirky advisor who gets sh!t done in business.” Back independent since 2019.

Since April 2006, I’ve been an international business advisor providing bespoke solutions for privately-owned businesses with 12-96 employees.

At this stage you have proven your business model, but you’re struggling to turn aspirations into day-to-day reality. You are still responsible for all 28 areas of your business, but you don’t have the time or budget to hire 28 different experts.

You need 1 person you can trust who can show you how everything in your business is connected, and which areas to prioritise first.

That’s me.

Learn more here. Or Let’s chat.

Transcript

Hi! Jacob from business depot here again, talking wants more about roles and responsibilities, or rest and recuperation. We’ve already talked about how you as a business owner can better manage your time spending more time in the black and the green to grow your business, less time in the blue and the red. This week, we’re talking about the greatest investment that any business makes, and that’s where they choose to deploy the time of their team.

So, most of your team members probably spend most of their time in either a red or a blue role; red are the things like administration finance IT—they are costs to the business but they’re things that you can manage to improve your margin. Revenue things like sales operations training marketing brings in cash in the short term, and because both categories are short term opportunities, that’s where we tend to deploy most of our team’s time.

What can be valuable for you as a business is to calculate where each individual team members spends their time across these roles, and then add all of those up to give you an overall idea of where the business is investing your time. I’ve done this with hundreds of businesses over the years, and what I found is that most spend a lot more time managing the margin and bringing in revenue than growing the business or building wealth for the business owners and the shareholders.

Even just having that awareness, gives you the opportunity to relook at position descriptions, team meetings, systems and processes, to make sure that more of the team are supporting the growth and wealth for your business. Investment of time in these categories improves the processes in these categories to give you future revenue at a better margin which at the end of the day, what most business owners are looking for you.

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