Urgent or Important, What’s On Your List of To Do’s?

I just don’t have time to do the things I need to do. I get in early, leave late, still have a ton of things on my task list. I know we’re all busy and that’s as it should be. But this is crazy. I’ll never get through it all. Feel like I’m drowning. What can you suggest?

 

THOUGHTS OF THE DAY: Start the day with one of the big, bad, important to do’s. Set realistic expectations. Organize based on importance. Hire to your weaknesses. Learn to delegate effectively.

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Where Will We Be Tomorrow?

Had a lot of uncertainty this past year, but we made it through okay. Looking forward, things seem to be looking up. Am I being too optimistic? How can one really plan ahead longer term when we don’t know how things are going to play out?

THOUGHTS OF THE DAY: Looking ahead, change is a given. Look for the upside. Be clear about the overall mission. Learn how to take manageable risks.

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Who Is Accountable?

 
I’m finding that my partner and I regularly let ourselves off the hook. Occasionally we might get upset about something the other did or didn’t do, but mostly we accept each other’s excuses. These typically are along the lines of “I couldn’t get it done because something got in the way,” or “Something unexpected happened that disrupted my plans.” The end result is that our company might not perform as well this coming year as it could. How do we fix that?

 

THOUGHTS OF THE DAY: It’s often said that business owners are the least accountable people in the world, because they report to no one — ouch! Ask regularly, “Are you making me a promise to deliver on what you just said?” Don’t wait until failure happens to step in. Go out of your way to treat your partner as a valuable asset, even when bad news is being delivered. If there’s a bigger problem, an elephant in the room, bring it up.

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If it’s Getting to be Time to Sell the Business

Thinking about whether it’s time to get out, and who would we sell to if we did decide to quit, and for how much. Not in a rush, but it’s time to get prepared. Wondering how best to go about doing this.

Thoughts of the Day:  Knowing what you need to get is different from knowing what you can get from a sale. Optimal buyers don’t just show up. If you’re running out of time, make the best deal that you can.

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Running Out of Gas

I usually think of our open invoices with clients as gas in the tank waiting to be put to use. Unfortunately our clients don’t seem to be paying their bills as fast as usual. It’s getting overwhelming. These outstanding accounts are going to bury our company and then take our house if they don’t get paid.

 

THOUGHTS OF THE DAY: Get others on board to help you collect as much as possible as quickly as possible. Figure out why invoices aren’t being paid. Implement new practices to manage collections in the future. Begin workout with clients that are seriously delinquent.

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