Are you wasting skills?
August 24th, 2006 by Jane
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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