FBC – 72 – What you should really focus on

What you should really focus on.

If you are looking for a solution to work less, live more and get more time, then you are in the right place.

So what I wanted to tell you today is super mega important. This is going to make or break your career as an entrepreneur, if you're not careful and you really need to listen to this.

If you want to be successful in this business and if you don't want to lose your hair and actually make your business work, you need to get rid of the operational work. It needs to be either automated or outsourced. OK you need to get rid of it because this is the problem when you become an entrepreneur. You very quickly realize a bunch of things. So you are going to do everything.

The landing pages and the split testing and the marketing and the support and pick up the phones and the accounting everything. And very often we end focusing on these tiny little things that actually don't bring any value to our business.

Then it's impossible for you to get out of it and then your business sinks, not because your idea sucked or whatever. It's just because you were focusing on the wrong things. And what I want you guys to focus on the strategy.

So the strategy is what is going to give a direction to your business. The long term vision of the business, what you what do you want to do with the business and where it’s going.

And for whatever reason, people devote 10 percent of their time to the strategy part and then they're too busy with the operational. They never strategize. And that way there is no clarity in the business and they lack direction. You know. Where it should be the opposite. You should spend your time strategizing. Analysing the opportunities on the market, the future trials and everything that's coming. That's what you need to do.

So I'm doing a mix of both. But the reason why I am doing a mix of both is because I am developing a strategy but I need to train my team on how to implement it. Right. So I do have to do a little bit of operational but I just do it once. I record videos and then I give it to my people. Right.

So I do have a little bit of operational because you can't teach someone to do a task you never perform yourself because you know if there is a question like “oh why are we doing this or what happens if I do this?” you need to be able to answer right. So before I send anything to my team well I need to do it myself where for a little while. And then once I understand the ins and outs then I can simplify it and I can systemize it and give it to my team.

What you should really focus on

But what I'm doing right now is the strategy part and I love that stuff. You know it's really cool. It's way better than the operational stuff. I don't do operational anymore. My specialty is to create those businesses that will work without me. But it really implies that in the very beginning if I start a new project I will do a little bit of operational just because you know I need to know how it works.

You can strategize anywhere too. Try not to strategize with like friends or the girlfriend or whatever. Do it by yourself. But one thing as well is that you need to strategize but don't over strategize. The danger of over strategizing is that you might think “let's wait until we have this thing until its perfect” And you know there is a point where more information is going to be damaging to what you want to do. Right.

So at some point you have enough information to just go and start implementing and you should do that. At that point more information is only going to bring some confusion which is going to bring the analysis paralysis of “do I go with solution ABC?” or whatever. OK.

But some people are like “No I don't want to spend money, I'll do it myself” and I'm like well OK but here's the thing. How much is your time worth? So let's say you could pay a person 50 bucks to write an article or something. 50 bucks. And to understand I mean some people you know when you're just starting out you're like tight on money right. Fifty bucks for an article.

But let's say you decide to do it yourself. It takes you three days to write the article because you want it to be perfect. Three days. So that's. How many hours? So let's say you work eight hours a day.  It took you 24 hours to do it and you could have paid 50 bucks. All right. So basically if you look at it you're basically saying that your time is worth two dollars an hour. It's way too low.

But when you are an entrepreneur, you think “man I'm saving 50 bucks”. No you’re not saving 50 bucks. You're basically telling yourself that your time is worthless.

So this is how you need to think. How much is your time worth? So unless the task that you want to do costs. 500 bucks an hour then yeah, you know what? you can do it yourself. You know because if it was 500 bucks then it will be worthwhile. In those 3 days, you could have earned way more than 50 bucks, doing something else.

So the message is focus on the strategy. Get rid of the operational and also think about your how much your time is worth. OK. Do that little exercise.