Achieve Work-life Balance And Reduce Stress Part 5
Previously, we covered the HBDO formula: Hire
, Barter, Delegate, Omit. Now it's time for you to use this formula to reduce the stress in your life. Sometimes you may feel like you're running a three ring circus and you're the tight rope act as well as the fire-eater. You're not alone. You're also capable of reducing your stress, so let's do it!
What does HBDO stand for? Hire, Barter, Delegate, and Omit. Let me repeat it: Hire, Barter, Delegate, and Omit. (Now say it silently three times to yourself and you'll be on your way, hon!)
Let's focus on the Hire part. Numerous small business owners say, "I have no startup capital" or "I have no money to hire because the economy is in the toilet." Really, most entrepreneurs have a million excuses for why they can NOT hire help. However, you need to develop a new perspective, one that will profit you and your business.
Think of it this way. Let's just say your time is worth $150 an hour. Divide that $150 by three for the hours you spent marketing, serving your masses, and developing your craft, etc. that you'll be doing to keep your business thriving. In other words, for every billable hour, you'll have at least two other hours of the behind-the-scenes work. Therefore $50 is what you REALLY make each hour in your business.
Think about it. If you can pay someone else $10 or $15 an hour to do the daily tasks you don't like that they're better at, you're saving time and money. You're actually saving $35 to $40 because you now have time to do the things you are really good at and also love doing.
In fact, you'll end up saving more because whoever you hire is going to be faster at the tasks you don't like doing than you are. They're going to do more in one hour for that $10 or $15 than you would do in three or four hours. (Imagine how much you'd be losing by spending three to four hours trying to do what you're not good at and what you despise! A scary prospect, isn't it?)
So as you can see, hiring is an essential step in growing your business, reducing your stress, and avoiding burnout. If you absolutely have no money to spare, then figure out a way to barter with someone. Find someone with whom you can barter, but make sure you can trust them to hold up their end of the deal--and make sure both of you are equally excited about what is being exchanged.
Let's presume that you have a friend who is really good at sound mixing but not so good at website development. You are the opposite and need some work done on some CDs that you would like to sell on your (fabulous looking) website. You and your friend can help each other by exchanging hours of work. You can spruce up their website and they can mix your seminars into CDs for you. It's a win-win for everyone.
Remember to come up with a written barter agreement to make things clear and smooth. Set interim goals and a final deadline. Just make sure it's a fair trade and that everybody want what the other has, or somebody may feel used.
The beauty of barter is that it is also a kick-butt marketing method. Why? Because you are giving people a SAMPLE of what you do and this can lead to repeat business and referrals! Barter is your friend and can bring you benefits you never imagined. Not only are you getting your immediate needs met, but you are also creating a customer base who can spread the word about your product or service. You are killing two big birds with one super-strategic barter.
Most importantly, you are assembling a powerful team through barter and hiring. Plus you may later hire someone you barter with--yet another possibility! Remember, teams are not just for football. Outsource by hiring and bartering and you will find your stress level decreasing and your productivity increasing.
Your business will increase when you hire and barter. So, best of luck to you and don't forget your helpful acronym! Give me an "H"! Give me a "B"! Give me a "D" and an "O." GO TEAM GO!
by: Dr Barnsley Brown
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