How to Accelerate Your Business Growth in The New Year

There’s only so much one person can do.  Yet, many entrepreneurs feel the need to do it all themselves, which can feel empowering at first, as there are a lot of knowledge gaps that can be filled when starting out by taking this approach – indeed, for many entrepreneurs it’s a necessity to do everything themselves because they don’t have the funds to outsource tasks or employ others for growth.

The challenge, however, is that there are so many hours in the day and often business owners are working “in” the business rather than “on” the business – meaning, they are buried so deep in busy work from accountancy to website development, they don’t have the time to focus on navigating their way to success like the captain of a ship.

If we take the metaphor of a ship, the Captain’s job is not to do everything on their own – it’s to delegate tasks and rely on a team of experts to undertake their specific activities, and in doing so, the ship runs effortlessly and efficiently.  

The reason you don’t see the captain of a cruise ship cleaning the decks or serving appetisers to guests is not because he or she is arrogant – it’s because they are there to be the captain of the ship; and the captain of the ship is there to command a team.

In this sense, many entrepreneurs need to think more like a captain of a ship and focus their energy on managing others to complete tasks rather than try to do everything on their own.

In the alternative, if you don’t have a traditional business as you prefer the idea of being a digital nomad with an online business, this can be an ideal vehicle to create a life of more freedom – yet it similarly must be managed correctly and structured in the right way to achieve the goal of “lifestyle freedom” as it’s very easy for digital entrepreneurs to become just as overwhelmed with busy work as a traditional business.

The thing that is going to accelerate your growth, the most, therefore, is to master the concept of time leverage.

In essence, you’re going to need to create an automated system, structure or process that generates revenue in a passive way, rather than an active way.  This means, that unlike the traditional model of self-employment where you trade a unit of time for a particular amount of money you have time leverage.

In this sense, you can leverage other people’s time or you can leverage assets.  

Therefore, if you’re looking to accelerate your business growth in the new year, you need to focus on managing a team of people, setting up automated systems, and leveraging assets that you can create time and time again… rather than trading your time for money.  For instance, if you were to create an online course to sell in addition to consultancy – you can leverage this asset to make additional revenue, without having to exchange additional time, because the video course is already created.