Your time is the most precious asset you have.
The good news is that, as a fearless CEO who governs her own time, you have much more of it available than you think.
The bad news, however, you are like most entrepreneurs, you will fill your time with lots of activities that produce limited results…
And you will likely devote too little time to the few things that generates ALL THE VALUE.
I’m not saying this to be rude or diminish your extraordinary talents and expertise…
It’s just that this is how humans roll.
We complain endlessly about not having enough time…then turn around and WASTE appalling amounts of it.
Therefore, the best way for women entrepreneurs to manage their time is to maximize the time we spend on the few things that produce the best results.
In any business, there are going to be some specific big levers that you can pull that are going to get you 80% of the results.
This is the law of unequal distribution, aka the Pareto Principle.
In 1906, the Italian economist Vilfredo Pareto — after whom “Pareto’s Law is named — discovered that 20% of the pea pods in his garden yielded 80% of the peas.
Then he found that roughly 20% of the Italian population owned 80% of its land.
Over the last century, many other studies and experiments have consistently reinforced that a minority of causes produce the majority of the results.
In your business, there are a few key activities that you can focus on that are going to get you your biggest results. And I call those your “$10K tasks”.
Let’s start with the high-value tasks.
What would be a task that you could do that is so high value it’s worth ten thousand dollars an hour? In other words, what is a task you could complete today that’s going to generate some significant return for you, your family, and your business?
In any business, you’ve got $20 tasks, $100 tasks, $1000 tasks, and $10K tasks. Potentially, you may even have $100k tasks. I’ve worked with some women who literally have million-dollar tasks. For example, prepping for a big meeting with a fantastic new business partner who can open up an entirely new vertical for your business…this is a million-dollar task.
Your job as a CEO is therefore to
- Identify your business the $20 tasks, $100 tasks, $1000 tasks, and $10K tasks.
- Spend the majority of your time focusing on the highest value tasks you possibly can.
Examples of $20 tasks — include: formatting documents, shipping items, ordering catering, booking appointments, etc.
Examples of $100 tasks include: graphic design, handling logistics, customer service, negotiating contracts with vendors etc.
Examples of $1000 tasks include: design and delivery of your offerings, copywriting, creating customer journeys, creating job descriptions.
Examples of $10K tasks include: public speaking, PR and media appearances, working on your marketing position or USP, working on your brand messaging, choosing who to hire and strategic planning.
Think about your tasks and sort them into the $10, $100, $1000, $10K and $100k categories.
Women CEOs manage their time effectively by maximizing the time we spend doing $1000 and $10K tasks…and delegating everything else.
Want more?
- Uncover your niche by attending the 7-Figure Niche Masterclass
- Listen to Podcast Episode 31: Do you know your 10K tasks?
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