It's a classic scenario - you've got important plans you made weeks ago, when a client wants a last-minute showing.
a) Cancel all your plans immediately and book the showing. This could be it!
b) Tell them you'll book something for next week, and risk losing the sale.
c) Wait... there's another option?
You’re not alone if you find it tough to navigate your personal and work life balance. There are thousands of articles out there on how cell phones, social media, and competitive job markets have led to a lifestyle of always working. But trust me - creating some personal time doesn’t mean you have to risk losing your sales, and it’s critical when you run your own business.
Figure out how you like to work. If you’re a person that loves the thrill and excitement of closing that sale no matter what - at the risk of always being available to your clients - that's great. However, that work style may not work for everyone, and may not be sustainable in the long run. If you prefer having set hours that you respond to messages and clients, that's great too. You might find it easier to manage your personal life, but there could be implications from a client perspective as well. A lot of it will come from managing expectations and the communication you have with your clients. Be true to you: if you know you’re the kind of person that needs alone time - having a working model of "always on call" might not be for you.
In the long run, experts say time off to recharge is critical to your long term success. And as hard as it is, when you’re self-employed and feel like you should always be connected, remember: it’s okay to take some personal time.
I know, I know - it'll only take a second to send that client info over. And then, just three minutes, maximum, to confirm the showings for tomorrow.
But hey - we both know you'll be at your laptop for another three hours - not three minutes. The fact is, there's just always one more thing that can suck you in. So - how do you fight the compulsion and deal with all those small tasks that take just one more minute?
Well, I’ll tell you - and you might not like it.
It’s all about putting in the work now, to save you time later. It might seem like it’s more work, but trust me, streamlining and prepping your tasks is going to save you hours down the road.
Here’s a few of the biggest timesucks you can find yourself with, and how to correct them:
Still feeling overwhelmed? Not to worry - after all, that’s what I’m here for. Book a quick intro call with me, and find out how you can streamline all your tasks with just one move: hiring me to do it for you.
Being self-employed, our income is never steady, and never a sure thing. We often find ourselves trying to do every task ourselves just to save a few dollars - but is that actually costing you more money?
Consider what you could be doing instead of all those small tasks. Does all the time you're spending filing documents or updating your website equal a sale? Was it worth it? In some cases no - but in some cases, maybe so.
Whether it was your favourite subject in school or not, it's time to do a little math to calculate what's worth your time, and what's not.
First, figure out what your time is worth. As real estate agents, we may not charge an hourly rate, but that doesn’t mean you shouldn’t have a ballpark number of what your time costs per hour. You can break this down by looking at your total income over a year, and how many hours you invested in your business.
Next up: compiling all those tasks, and how long it takes you to complete them. Try tracking your time over a week, or even a day. How long does your average showing last? Your end of day paperwork? The time spent writing a contract? The short administrative tasks? Once you know how long those tasks take, you’ll be able to determine if they’re worth it to outsource.
Now - let’s put them together. If it takes you an hour to update a contract, and you determined your rate was $100/hour, it’s worth it for you to be the one to update that contract, unless you can find someone else to do it for less than that. But if your hourly rate was $500/hour, you can probably find an intern to junior colleague to update for you because it’s actually not worth it for you to lose out on $500 that could be invested elsewhere.
But remember these two important risks:
If the intern writing up the contract makes a crucial mistake, it could cost you a lot more than $500. Is the task at hand more important than the dollar amount you assigned to it? And, if you’re not using that hour you just gained to do something that contributes to your business, it’s not $500 you just gained back - it’s money you just lost paying someone else to do it for you.
For a more personalized look at how analyzing your tasks can affect your bottom line (or your take home salary) let's schedule a call, and let's crunch the numbers together.