For the past year, I’ve been experimenting with the concept of working less by telling myself that I only have one hour a day to get things done. This has helped me reduce the number of hours I work from 100 a week to just 20 per month. (If you want more details on how I’ve accomplished this, read my last article, “How To Work One Hour A Day And Have A Thriving Business.”)
If you’re looking for ways to effectively cut back, think about this: Sometimes the key to getting more done is simply to do less. Think about ditching these three things in order to free up more time:
Ditch Your Worst Customers
Admit it: You’ve got customers who generate less income than others, yet take up more of your time than they should. Maybe instead of trying to get more customers, it’s time to ask, “Which customers should I eliminate?”
For me, the customers who are price-sensitive tend to be the most difficult to work with. Oscar Wilde once said, “A cynic knows the price of everything and the value of nothing.” I no longer work with cynics. Instead, I give time to my value-oriented customers who prefer to focus on results rather than fees.
One strategy to consider: Ditch the 20 percent of your customers who are sucking up your time but not producing commensurate returns. This not only frees up some hours in your day; it also frees up your mental energy. I realize that when money is tight, cutting customers loose can seem like a risky proposition. But you intuitively know that attempting to keep 100 percent of your customers happy 100 percent of the time will keep you working 100 hours a week, limiting your true growth potential.
Ditch Your Lowest Return Activities
Look at the amount of work you do. Look at your to-do list. You will never get 100 percent of the work done, even if you had 200 hours in a week. And we know that, yet we still strive to get 100 percent of the work done….