One of the hardest parts about running a small business or leading a project is allocating yourself (and your team) appropriately for everything. Emergencies crop up and how you handle them in conjunction with the everyday tasks can determine your long-term success. But when everything feels like a priority, it can be tough to respond appropriately. If that sounds familiar, this post is for you!
Typically, people prioritize based on the urgency of the task(s). In many situations, this works well; however, there are limits to it. When there are too many priorities and huge scope, prioritizing that way no longer works. Instead, look at your to-do list through a different lens. Think in terms of profitability, currently available resources, and the value of the task or project. With those new determining factors, set your priorities.
Unless you’re a solopreneur without any outside help, managing resources can become overwhelming. Using a visual tool such as Microsoft Project can help assign resources appropriately and ensure a balanced workload.
Your team is your biggest asset. When allocating resources, choose people who are as excited about your vision as you are. And take the time to communicate with them about their role and how it contributes to the whole.
In addition to delegating tasks, delegate some of your management responsibilities. Find contractors or hire team leaders who can get on board with your vision, motivate themselves (and others) to reach the shared goal. That frees up your time to focus on the bigger picture.
Not everything you have to do is the same value. Consider the Pareto Principle that 80% of your results will come from 20% of your efforts. Figure out the 80% of your work that isn’t generating results and cut them – even if it means saying no to new clients or initiatives.
If you’re feeling pulled in too many directions, these few changes can help ease your stress and set you up for success. For more great tips like these, sign up for my newsletter.