Several years ago, a fellow coach was addressing a group of solo entrepreneurs. He said something that has always stuck with me: as a company of one, there are only two things you should ever be doing with your time: either serving a paying client, or getting a paying client.
Take just a moment to ponder those words and I’m confident you’ll find them to be very powerful.
How much time do you waste in a given day? Some of us can answer that question easily, and some need to think about it. If you’re among the latter, here’s an exercise I’ve been giving my clients for years: track your time for two weeks. It’s very simple and can be done on a sheet of paper – no computer required. As you go through your day, every 15 – 30 minutes make a quick note on this sheet of paper as to what you’ve been doing. Very dedicated clients have tracked their day starting with wake-up time and concluding with going to bed. Others have tracked only their work day. Without exception, discoveries are made. One of those discoveries is often inaction. That’s right. Many solopreneurs find themselves doing absolutely nothing for a good part of the day.
Solopreneurs can be experts at frittering away time. If you’re a company of one and you find that difficult to believe because you never waste time, I say bravo. Keep up the good work. On the other hand, if you admit – readily or reluctantly – that this is you, commit now to making a change. Here’s why: businesses fail for all sorts of reasons: lack of capital, poor customer service, ineffective marketing, no clear direction, inadequate business, and yes, even inaction.
