How can you grow your business and have time to enjoy life?
When you first start running your own business you have to become a bit of a ‘jack of all trades’. You’re the sales team, marketing department, finance bod, operations manager, compliance, admin…the list goes on. This can be great at the start, it really enables you to build and mould your business in the way that you want to make it yours.
However, as business grows, the needs of your clients grow, the admin and finance tasks increase, but your time is limited. We often speak to brokers who are working long hours, not spending the time they would like to with their families or doing much of the things they love outside of work. And aside from leaving them feeling tired and frustrated, it can also have a huge impact on the growth potential of their business.
Here are three pointers that have helped our clients navigate this stage in their business:
Take some time (yes I know that might sound a little ironic when you’re lacking time but it really will help!) to work out what you’re spending your time on. Track it for a few days or ideally a week, either on a spreadsheet or using one of the free apps that are available, such as Clockify. You might be surprised seeing where your time goes!
Once you know what’s eating your time, consider what out of those tasks you enjoy. What is it that puts a smile on your face, uses your skillset and leaves you feeling good? What would you like to do more of (and less)?
Finally, look at the growth opportunities that would be available to you if you were able to pass those tasks that you simply don’t like, take you a long time or don’t make the most of your skills to someone else. Work out what that would cost you and what your business could gain.
At Insurance Support Solutions Ltd we help brokers in this exact situation, brokers who want some support but are not necessarily wanting to take on employees just yet. We’re a friendly bunch of insurance professionals who provide experienced administration/account handler support. So if any of the points we’ve touched on resonate with you why not drop us a line for a quick chat to find out how we can help?