The Struggles of Balancing Tasks
Are you constantly incurring struggles to balance tasks in your design business, fearing that everything could come crashing down at any moment? Do you find yourself on the verge of a breakthrough but still struggling to secure consistent projects? Is it your dream to transform your business from a mere hobby into a thriving enterprise that generates a six-figure income and beyond? Today, we discuss the essential techniques required to pay yourself what you’re worth, attract high-quality clients, and shatter that five-figure income ceiling. We’ll explore the critical relationship between time and money in your design business.
The Allure of “10 Tasks”
Have you ever wondered why we’re often drawn to what I call “10 tasks”? These are the small, easy-to-complete items on our to-do lists that give us a fleeting sense of accomplishment when we check them off. The truth is, we rarely stop to consider whether these tasks truly contribute to the growth of our businesses. As a result, our to-do lists become endless, and the cycle never ends.
Introducing Time Currency
Let’s introduce the concept of time currency into the equation. I want you to start valuing your time as a business owner and assign dollar amounts to your tasks. For instance, categorize tasks as 10, 100, 1,000, or even 10,000-dollar tasks. Think about it—checking your email is typically a 10-dollar task. Why then do we waste precious hours scrolling through our inboxes when someone else could manage this for us more efficiently? Consider delegating tasks that fall into the 100 or 1,000-dollar range, such as managing purchase orders and internal paperwork. Focus your energy on the 10,000-dollar tasks that truly drive your business forward and boost profitability.
The Time Currency Tool
To help you make this shift, I’ve created the Time Currency Tool, which provides examples of tasks in each category and offers guidance on how to transition from working on 10 tasks to tackling 1,000 and 10,000-dollar tasks. I understand that letting go of tasks can be challenging, but if you’re overwhelmed and struggling to make progress, this may be the root of the problem.
Harnessing the Power of Virtual Assistants
Now, how can you get the assistance you need to delegate these tasks? Virtual assistants can be invaluable in this regard. I personally utilize virtual assistants in my business, and they’ve proven to be an excellent resource. They don’t have to be full-time employees; you can hire them on a contract or part-time basis to suit your needs.
If you’re worried about the cost of hiring help, it might be time to reevaluate your pricing structure. Remember, investing in assistance is a crucial aspect of business growth. It frees up your time to focus on more strategic initiatives like marketing, forming partnerships, and creating unique value for your customers.
Several platforms can connect you with virtual assistants, including Upwork, Fiverr, and Hire My Mom, which supports stay-at-home moms looking to balance work and family life. Additionally, there are virtual assistant services tailored to military wives who often face challenges in maintaining traditional office jobs due to frequent relocations.
Now, let’s delve into specific tasks you can delegate in your business:
- Email Management: Categorize your emails into “today,” “this week,” and “this month” folders to streamline your inbox. Delegate the task of organizing and managing emails.
- Bookkeeping: If you’re not already working with a bookkeeper, consider hiring one to manage your financial records and transactions.
- Scheduling and Follow-Ups: Delegate the time-consuming process of scheduling appointments and following up with vendors.
- Project Management: Utilize project management tools like Trello or Asana to assign tasks, set deadlines, and track progress. This is particularly useful when working with remote or part-time assistants.
Finally, start documenting your workflows and processes for different projects. Creating standardized procedures will make it easier to delegate tasks and ensure they are carried out consistently.
The Path to Six-Figure Success
Time and money are intricately linked in your design business. To achieve six-figure success and beyond, it’s crucial to break free from the cycle of working on $10 tasks. Start delegating to focus on $1,000 and $10,000 tasks. Invest in virtual assistants and streamline your processes to achieve the growth and success you deserve.
If you’re eager to take your interior design business to the next level and make six figures, don’t miss our Design Business Bootcamp. Our next session is just around the corner, so let’s kickstart your journey to six-figure success. See you next time!