Create 3 Lists to Freedom: Identify tasks to delegate, outsource, or eliminate for business growth.
Remove yourself as a bottleneck in your business to transition from scrappy entrepreneur to CEO.
Deep dives
Knowing Your Numbers with NetSuite by Oracle
To succeed in business, understanding your financial numbers is crucial, especially during uncertain times influenced by factors like inflation and supply chain disruptions. NetSuite by Oracle offers a comprehensive cloud financial system that gives businesses visibility and control over their financials, planning, budgeting, and inventory. By utilizing NetSuite, over 31,000 businesses have improved their margins, managed risks, and obtained reliable forecasts, ultimately identifying profit as the new growth metric for 2022.
The Impact of Community and Mentorship on Business Growth
In business, the impact of community and mentorship on personal and professional growth is significant. Building relationships with like-minded individuals, finding accountability partners, and engaging in a supportive community can play a pivotal role in business success. The podcast host reflects on the positive impact a friend and business associate, Chris Ducker, had on his entrepreneurial journey, emphasizing the value of external support and networking.
Empowering Business Owners with Time Management Strategies
Chris Ducker's book 'Virtual Freedom' introduced the 'Three Lists to Freedom' exercise, a practical tool for streamlining tasks and delegating responsibilities effectively. By categorizing tasks into 'don't like doing,' 'can't do,' and 'shouldn't be doing,' business owners can identify areas for outsourcing and time-saving opportunities. Understanding where one's time is best spent and being willing to delegate tasks can lead to increased productivity and overall business success.
#614 As you listen to this episode, I want you to go through a quick exercise with me. You can just do it in your head, but the real magic happens when you put pen to paper. My good friend, Chris Ducker, calls it the 3 Lists to Freedom. As the name suggests, we’ll be creating three lists to help us move forward in our businesses and have more time for the things we love. I’ll walk you through each step, but pay close attention to the final one. That’s going to be the “money list” that can make the difference between a scrappy entrepreneur and a CEO. We talk about why and how to remove yourself as a bottleneck in your business, even though it might be hard to let go of certain tasks you might be great at. This is a valuable exercise that has saved me countless hours. I can’t recommend it enough! Show notes and more at SmartPassiveIncome.com/session614.