Two Essentials Hacks to Supercharge your Efficiency

These "hacks," for want of a better word, which I’ve applied over the past four years, have significantly enhanced my own efficiency. And yes, while there are countless productivity “hacks” out there, these two stand out as game-changers.

In business, especially if you’re self-employed or running your own licence or franchise, there’s always a temptation to do everything yourself. 

But remember: time is money. To determine the true worth of your time, take your annual income target and divide it by 1,680 – that’s the number of hours in 48 weeks at 35 hours per week. This calculation gives you your baseline hourly rate.

Now, evaluate the tasks you perform. Each hour spent on a task essentially costs your business that amount of money. 

Ideally, for each hour invested, you should aim to generate three times that rate in revenue. This is because, generally, businesses allocate about a third of their income to profits, a third to overheads, and a third to salaries. 

For self-employed individuals, aiming for twice your hourly rate can suffice, as profit directly contributes to your income. So, if there are tasks someone else could do better and faster for a lower rate, it’s often a wise investment to delegate them. This way, you’re free to focus on tasks that align with your hourly revenue target.

It’s a simple strategy, but it’s astonishing how often entrepreneurs get bogged down with tasks that drain both their time and money. 

If you keep doing jobs that earn you less than your hourly rate, you won't reach your annual target. It's that simple.

Leveraging experts who can execute more efficiently and economically is a pathway to increased productivity.

This approach will also help clarify which tasks to delegate. Start by listing every single task you perform, from the mundane to the complex. 

For a more streamlined process, consider using AI to help catalogue these tasks. Then, highlight tasks you genuinely enjoy and those that directly generate revenue.

What’s left forms the job description for your next hire. By finding someone who thrives on the tasks you dread, struggle with, or find time-consuming, you’re making an investment in your business’s efficiency. 

This person could be an employee, freelancer, part-timer, agency, virtual assistant, or AI.

Handing over tasks that don’t suit your skills but align perfectly with theirs, creates a work environment that allows you to focus on high-value activities – effectively crafting the job you love.

These strategies are straightforward yet powerful. Valuing your time and wisely delegating, you’ll find your productivity – and satisfaction – grows, allows you to focus on what truly drives your business forward.