Scraping by sounds pretty questionable, right? You’re always supposed to do your very best at everything. That’s what we’re taught.
However as a service provider you want to be able to know when to put in that 110% effort and when to do just enough to get by. It’s about managing your time and focusing your attention on the important and profitable tasks.
For example, a service based business owner, such as a web designer, needs to go above and beyond when they’re directly dealing with their clients. Additionally, when they’re planning and creating materials for their clients the more value they can offer the happier their clients will be. However, when this same designer is spending their time balancing their books or paying their bills this same level of dedication and time investment isn’t a great idea.
Bookkeeping isn’t a profit generating task. It’s not something that is personally satisfying nor does it result in any business improvement. It’s just busywork. The goal therefore is to get it done, and of course to get it done correctly, but to spend as little time as possible on the task.
Actually, if you can spend no time on the task and outsource it to someone else that’s even better. Make a list right now of the tasks and responsibilities you manage each week. Next to each task write down whether it is a task that generates profits and grows your business or is it busywork? Then take measures to eliminate the busywork from your life so you can focus on the important things. Let someone else manage it or create systems so you can get the work done with as little time and effort as possible.
Prioritizing can be a real challenge but successful entrepreneurs are great prioritizers. They know when to invest themselves and when to “scrape by”.