Time is a very precious resource for any business owner but particularly for the SMEs. Not only are they doing the actual job, whatever that may be, but also taking care of the finances, logistics, production, ordering materials, administration AND marketing.
According to research from Sage Ireland, 42% of Irish business owners feel they don’t have enough time in their working day while 57% say they are not spending enough time on growing their business.
So much to do, so little time
We’ve all been there. You’ve worked for 9 hours straight and you’re back at home. You’d love to read the little ones a bedtime story but there’s accounts to be done and you promised yourself that you would finally get the hang of Facebook advertising. And after staring at the screen for what seems like hours, you realise you have managed to launch an ad but it is costing you €10 a click and it seems to be directed at people in Mongolia! And you have no idea how to use Instagram or Twitter for your business and what the hell is Reddit anyway??
That’s the trouble. Time is the most precious commodity for an SME owner but are we spending it in the most effective way for both our business and our family life?
According to the Sage research 27% of our time is wasted on administration, but only 20% is spent on growing our business. Most SME owners think they should handle all the jobs themselves, that they can’t afford to hire a website or graphic designer. And yes you can spend four hours trying to create a Facebook ad or designing a flyer but it may end up looking like it was put together by your six year old with crayons and that hardly screams professional. It may seem cheaper to handle all these elements yourself, but if you looked at it, really looked at it, is it?
Use your time in the best way
You need to use your time in the best, most efficient way. For example if you want to harness the power of social media to grow your business, then you need to devote time to it. And you need to do it consistently and regularly. Even creating content can take time, coming up with ideas for your blog can be tricky even if its about your own business or profession. Taking this time out from a small business to devote to social media IS necessary but is it necessary that YOU do it? Taking say 2 hours twice a week to manage your social media or website updates means that you’re not earning for those four hours. So you’ll need to gain eight hours paid work to make up for those fours hours you’ve spent. And where are those eight extra hours going to come from if already you don’t spend enough time with your family?? This is the dilemma faced by many SME owners and one of the reasons they don’t actually bother with a website or social media which is a WHOLE other issue.
Hire a professional, it will save you time AND money
But if you could hire someone to handle all that for you, then you would have more time to concentrate on the day to day job.
Finding a professional who can easily and quickly setup your social media profiles or create an effective flyer for your business saves time and money. There are many out there who offer content management services so all your social media and websites are kept up to date and secure. There are many who offer cracking graphic design and more who offer analysis and advice on marketing. Yes you will have to spend a little money initially but it will cost you less in the long term. And it will allow you to get back to doing matters most, running your business. It will also give you back what money can’t buy, time.
Now where did I put that storybook?
Let me know what you think? How many hours have you spent in this way?