Do you fancy working smartly, rather than hard? This sounds like a great proposition to someone as busy as me. But what does it actually mean? And, more importantly, how can I apply it in practice?
Essentially, we could all work as many hours as there are in the day – and as a small business owner, this is a huge temptation. There is often more than enough work that could be done at any given point. But is this really the best strategy? And, will it actually get us to where we aspire to be?
I consider a number of different components below that contribute to working smarter rather than harder.
First and foremost, we need to understand what we’re aiming for. It’s essential to understand what our end goals look like and our definitions of success (or other). Are we aiming to grow by X%? To become profitable? To attract new clients? To sell our business?
It can also be useful to consider this across multiple dimensions e.g. work and financial goals, work-life balance and health. Without this insight we could ultimately end up working blindly and, regardless of the number of hours we put in and the sacrifices we make, we’ll never fully make it.
“Begin with the end in mind” is Habit 2 of Stephen Covey’s classic 7 Habits of Highly Effective People. Essentially, if we define our end goal, it will give us the direction to aim for, the ability to course correct, if required, and to actually know when we get there!
Many of us are familiar with the SMART mnemonic that’s used in objective setting. There are a couple of variations but I like Specific, Measurable, Achievable, Relevant and Time based. In theory this makes perfect sense, but how many of us actually use this in practice? Especially if we’re setting our own objectives.
Taking our broad goals from above and aligning smart objectives to these is critical to ensure we’re focused on doing the right things to get us there. This can also help in breaking goals down into an appropriate level of detail to make them actionable and achievable.
Let’s not stop at creating goals and objectives. Once we know what we want to do, we need to decide what to focus on first. There are two things I find useful here:
Firstly, Stephen Covey’s Habit 3 “Putting First Things First”. In particular, the Importance/Urgency matrix helps me to categorise and prioritise tasks. We should focus on addressing the important tasks (above non-important ones) and ideally before they become urgent. This can serve as a great, yet simple, tool as and when new info and tasks crop up.
Secondly, “The One Thing” by Gary Keller and Jay Papasan. The key theme here is based on the question “What’s the ONE THING you can do such that by doing it everything else will be easier or unnecessary?”. This is repeated throughout the book and can be applied to different areas of your life.
Once we know what we should be doing, it’s useful to establish ways that allow us to monitor progress against our objectives. They say “what gets measured gets gone”. This could be an app or other tool that monitors progress automatically for us, or it could be as simple as a to-do list or sticker chart!
The other one I like is “Fail fast, fail forward”. Monitoring can give us early warning signs and allow us to course correct accordingly.
It’s time to ask ourselves some questions:
Am I doing what I said I’d do? If so, how’s that working for me? If not, why might that be? What could I do to move forward on this?
Is what I’m doing having the desired affect? If not, why is this? What else could I do as well / instead?
We’ll probably need some kind of data to answer all of these and it should be linked to the ‘measurable’ elements of our objectives above.
Boundaries can be a tough one. Many of us chose to go it alone to escape corporate constraints or other people’s boundaries. Some things may remain outside of our control but there are always some elements within our control. It’s important that we understand and set some boundaries of our own for the components that are in our control:
Time – how much are we able / prepared to work in any given day / week / on average?
Time – how much time are we prepared to give any particular investment, initiative or strategy, to see if its working for us or not?
Money – how much can we afford to invest or risk? How much do we need to make as a minimum? After financial commitments, how much ‘disposable income’ do we have to play with? What options and trade-offs can we make?
Working out our hourly earning rate can also be useful here i.e. how much we earn divided by the number of hours worked.
Values – it’s also important to have a good grip on our personal values, in case we find ourselves in a position where these are tested.
I use the word resources quite broadly here. This could include processes, systems, other people, apps etc. Given all of the things we have to do - and as an entrepreneur our remit could be very broad - are we optimising our use of available resources?
I use the term environment in the context of setting ourselves up for success. What works for us may have a huge impact on the ability to achieve our goals, and could also be very different from other people around us.
It’s important to know what helps us to operate optimally to give us the best possible chance of success. Some elements may be more within our control than others, but it’s worth giving some serious thought to them and experimenting to find what works best for us.
Unfortunately, despite best efforts, life doesn’t always go to plan. Obstacles crop up along the way. People don’t react in the way we’d expect. We’re dependent on others and their timescales. Or we fail to attract customers with our offering.
These factors (amongst many others) can have an impact on our best laid plans. But often we’ve just got to pick ourselves up and keep going.
There are different ways in which many of us could all benefit from working smarter rather than harder. This could provide more time for other things in our lives, like family or working out.
First, we need to be open to trying something different and some self-awareness. Then:
Melanie Coeshott is the founder of Blue Diamond Coaching – a successful coaching practice focusing on helping people take control of their working lives, to thrive in their current line of work or to do something radically different. She also works with business owners to develop their confidence in conjunction with their business plans.
Following a successful 20-year finance and management career within large multinational corporate organizations, she is following her own aspirations and advice as a qualified personal and business coach and NLP practitioner in Blue Diamond Coaching. To compliment 1:1 coaching, she also runs workshops on topics such as Doing something Different, Overwhelm and Imposter Syndrome, and runs Mastermind groups for small business owners.
Last, but not least, Melanie is the source of Age Life Balance - a blog empowering mid-lifers to take control of their lives from the perspective of successful ageing.