Another lesson gleaned from the seminar day mentioned in my last post has refocused my attitude to managing skills.
You will probably have found that managing a small business has demanded a whole new set of skills. And if you’re anything like me, some came naturally – and some didn’t.
Not only that, but the skills you think will come naturally sometimes don’t, and vice versa.
For example, my expertise lies in writing and editing, with a background in media and publicity. So you’d think I’d have a handle on marketing. Not so. Issues such as branding, market research, producing company brochures, designing an effective website have all left me stumped.
For a while I struggled to master these skills – spending hours researching, drafting, refining, brainstorming – until a seminar presenter switched a light bulb on in my gloomy head. And this was later reinforced by a blog post from Greg Chapman – Your Business’ Most Important Asset. Time!
Why was I spending all this time trying to master a new skill set that certainly wasn’t coming to me naturally, when there are exceptionally competent specialists out there who can do it for me?
Sounds obvious – but how many small business owners or managers do you know who don’t just manage their business – they do the book-keeping, produce marketing collateral, cold-call prospects, do the post office run, replenish the coffee supplies and clean the toilet?
By doing everything, we imagine we’re saving a heap of money on costs and forget how much we’re losing.
I learned that one of your first tasks should be to establish a realistic hourly rate for your expertise. Whether it’s $50 or $500, it becomes difficult to justify time-wasting.
This also serves as a benchmark to help you establish your goals in terms of ROI in your business.
Value your skill set – and those of your employees – by nurturing what you each do well and delegating what you don’t.
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