When was the last time you sat down, took some deep breaths and thought strategically about your business?

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The incredible truth is that most business owners do not take any time out to work on their business. Most are way too busy working in the business that they do not STOP regularly to work on the strategy.

“It’s no wonder the statistics for bush business failure are so high”

If this is you the good news is it’s never too late to start working on your business. Try these simple steps to insert “Strategy Time” into your busy schedule.

  1. Go back through your diary and Colour Code the events you have in there. One colour for Administrative type tasks (RED), one colour for revenue generating activities (BLUE) and another colour for when you actually do work on the business (BLACK). Now that you have done this, count up how much time you spent on the business and compare that to admin and revenue type tasks.
  2. Look at all of your non-strategic tasks and objectively and ask yourself if you really need to be doing that task yourself or could you delegate it to someone internally or potentially outsource it.  Some people find it hard to let go but the more ruthless you are at this point the better off you will be. Its better to over delegate than it is to under, but I’ll talk about that in a future blog.
  3. Now set a goal of getting to the amount of time you should be spending on the business, preferably weekly. I like to spend a third of my time working strategically but that might not suit you. Pick a goal and now start planning out the next 4 weeks and add in one third of that  time into each week. eg if you goal is to get to 6 hours per week then add in 2 hours to each week for the next 4 weeks. Add in an additional third into the next 4 weeks after that and in the third month aim for the whole goal.
  4. Once you have reached your target determine if it is enough or if you need more still and then repeat steps 2 & 3.

“A business owner works hard in their business for a wage, an entrepreneur works strategically to build a legacy.”

Which are you?

What is a virtual business mentor?

mentor: a trusted friend, counsellor or teacher, usually a more experienced person.

Every entrepreneur should have a mentor – some else who has actually travelled the road you are about start. This is some-one you respect and that has actually, not talked and written books about, but actually lived the journey. Anyone can talk about it, few survive and live though it.

virtual: in its meaning is not physically present. In this new day and information age we no longer require our business coaches and mentors to be in the next street or the city. We can access the best minds and experience the world has to offer. So, if you’re in Sydney or Melbourne Australia this does not mean you mentor can’t be a Silicon Valley genius.

A virtual business mentor is a mentor who is not physically present, who helps grow and guide you around the obstacles that starting and running a business presents.

How to find a virtual business mentor?

Know yourself: Consciously think about where you are, and where you would like to be. Consider your personality, strengths and weaknesses. Understand what it is you need to grow. If you don’t know yourself, start there, maybe ask a peer to help you constructive find the area you need to grow?

Results: A clear understanding of your purpose and desired result will ensure that you find a suitable mentor, and that you and your mentor find value in the relationship. This clarity also eliminates any future confusion.

Past: Whether deliberately or not, each of us has had mentors in our lives. Think about the people who have mentored you and the qualities that you appreciated most about them. Use these traits as guidelines to finding a mentor.

Referrals: Ask around friends, colleagues, a personal referral is the best method. Be clear about what you’re looking for and why.

Broader Search: use the industry associations, online communities, professors, and a better option can be other successful leaders in your industry. Do not be afraid to ask.

Open mind: A mentor is someone who will help you grow in the area(s) most important to you. Look for someone who exemplifies the traits and skills that you want to adopt. If your accountant models the mindset-management behaviours that you strive for, she could be your mentor.

So what steps are you going to take next or what do you think of my post ?