R ‘n’ R – Roles and Responsibilities. In Blackboard Fridays Episode 7, Jacob talks about Productivity and Operational Structure. Need this implemented into your business? Talk to the international business advisor who can do exactly that – Contact Jacob, Learn More, or Subscribe for Updates.
Who is Jacob Aldridge, Business Coach?
“The smart and quirky advisor who gets sh!t done in business.”
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.
G’day, Jacob here. It’s time for another Blackboard Friday and Time is the key context for this week’s topic. We’re talking R&R and how “roles and responsibilities” can create for you, the business owner, a lot more “rest and recuperation”.
The framework we use is to break a business down into four clear categories. Every task and every job that you and each member of your team are responsible for fits into one of these four.
Is it in the Black? Is it building Wealth for you and your family? Is it about Green for Growth—future growth for your business? Is it more operational, bringing in Blue Revenue for your team in the short term? Or is it sitting in a Red Profit margin space—the administration, the infrastructure, the lifeblood that supports your business?
Time and Money are Energy
What I find talking to most business owners is that the first two categories – Black and Green – are the ones that energize them the most. They would love to be spending a lot more time in their week focused on growth and building wealth and yet as a business grows … they find themselves spending more and more time sitting in the Blue and the Red doing lower value margin work.
The classic analogy is $100/hour jobs versus $20.hour jobs – the best value for most business owners’ time is more like $1,000+ per hour and yet they get pulled into these $20/hr jobs because it saves them money. Their focus really needs to be on how they build a business and grow more wealth for themselves.
Where do I begin?
What I encourage you to do is to look at all the tasks that you are currently doing and think about where you spend time in your week.
If you like, you can even keep a running total in your diary or schedule about the different tasks that you’re responsible for, and which of these four colours they sit within. (I even have my Outlook Calendar set up with the different colours, so I can see my spread across Black\Green\Blue\Red at a glance.)
Having run this exercise now with over a thousand small business owners, what most find is that the majority of their time is spent in the Red and the Blue … when they started the business to spend more time in the Green, and maybe even in the Black.
Once you get an understanding of how your time is currently being invested, you have a much better chance of managing your time to (1) withdraw yourself from this operational short-term side of the business and (2) invest your time much more heavily on that future growth.
This is a HUGE and IMPORTANT topic for any small or medium size business, and one that is explored in more detailed in the Operational Structure section of the Blackboard Fridays video library.
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