I want to talk about something that could really change the way you do business and that is the first step of time management, eliminating tasks.
This is something I see far too often in my mentoring and mastermind programs. I had one mentee that I’m calling Ozzy. He went through the long application process and we decided it was a good fit. The thing about Ozzy is that he has a business that is doing around £5 million a year already. It may be a bit of a surprise that he would start another business when he already has a successful company.
The reason is that he was overwhelmed at his main business. He was at the center of every decision and he was looking for something else. We agreed to get started. Normally I do 90-minute calls, but he wanted to dive in deep right away a 3-hour call right away. During our first session is when I really saw the problem. We had spent the first half talking about his current business. I had to stop him to emphasise that I wasn’t an expert outside of Amazon. I could tell he had a lot of things that he needed to take care of before he could start an Amazon business.
This is something I see a lot when working with people. They are overwhelmed with what they have going on and cannot realistically start an Amazon business. This brings me back to the time management point I’ve been talking about lately.
Now is the perfect time to focus on time management. It’s typically a low energy period for a lot of sellers. What better time to eliminate those tasks that don’t serve you. So, here’s a list of potential areas that you could eliminate for better time management.
- Reduce Income Stream
I’m not suggesting you eliminate an income stream to create a business that won’t make money for a while. The point is to cut down on the time you spend in your other endeavors and spend it working on your Amazon business.
- Processes in your Current Job
The next idea is to remove yourself from processes and meetings in your current business. If you own your own business, can you outsource some of the tasks? Is every meeting vital? Can you find a more efficient way of doing your job?
- Time Wasting Activities
It’s easy to get sucked into watching your favourite program on the telly or videos on YouTube. Can you eliminate an hour each day to spend on Amazon?
- Social Activities
This one may be a bit difficult. You may decide to cut back on spending time with friends and family. Don’t take this to the extreme and cut everyone out of your life but building a business takes sacrifice. Communicate with your significant other and make sure it’ll work. This could become an issue if you don’t do it properly. It’s easy to get in a routine where and not spend quality time together, so make sure you schedule dates where you can spend quality time together.
- Eliminate Low-Quality Income Streams
I’ll be diving into this more in the next episode with a really cool system I found to determine whether it’s worth it to grow, reduce, or kill an income stream. For example, if you have an old website that doesn’t generate much income but takes a lot of time.
Amazon is Worth It
These tips for time management may seem like a lot, but it can be worth it if you invest in Amazon. It’s extremely scalable. Once you get it going, it won’t take much time to maintain and grow. You just have to put in the effort. Once it’s going you can easily make that transition from your day job.
Watch Time management for Amazon – Eliminate before you Create
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