The Leverage Equation by Todd Tresidder

Author:Todd Tresidder
Language: eng
Format: epub, mobi
Publisher: FinancialMentor.com
Published: 2018-12-05T00:17:06+00:00

How Employees Amplify Your Productive Time

But before I explain employer time leverage, I need to make a key distinction between tasks versus processes because one is dramatically more productive than the other.

When you leverage employee time, you’re investing in your business to produce an outcome that has greater value than it costs you. You’re paying to get something in return. It’s an investment, so like all investments you want to maximize gains and minimize losses. You do that by focusing on process.

Your goal is to progressively advance your productive time from working in the business on projects and tasks, to working on the business by developing systems and processes that increase your time leverage.

Systems are created for business activities that recur on a regular basis – a process that repeats over and over again. Whereas projects are one-offs, goal-oriented activities with a specific beginning and end.

For example, when I spend two days of work training an employee on a business system that she will implement half-time for the next two years, I’ve literally bought a year of productivity for two days of my time. So it’s an example of a high-leverage activity.

Notice how different that is from asking an employee to complete a specific project. Delegation of single tasks leverages time, but the effect is linear. It’s limited because once the task is completed, you then have to repeat the cycle by identifying the next project, setting new metrics for success, and training the employee for the next limited, specific outcome. Once that project is completed, you do it again and again, with each project requiring a chunk of your time.

However, delegating an entire operating procedure so the employee can work independently on an ongoing basis is highly leveraged. That means your goal in time leverage is to identify work processes that can deliver a constant stream of value.

The more you can delegate and train employees in work processes, treat them well, and give them the space to express their true talents, the more leverage you’ll see for your efforts. The key is to properly match the job requirements with the knowledge and skills the employee brings to the table so as to achieve maximum productivity.

Of course, this only works when your employees share your vision and values and possess a strong internal will to do better, to contribute more, to stay focused on results, and to grow in efficiency. Employees must have this emotional intelligence or their value will be limited.

The idea is to always hire up by finding people smarter and better than you for any specific skill set, because they’ll get more done and save you time. Be ruthlessly selective upfront because you either put the time into getting the right person, or you put in the time later when you get rid of the wrong person and then try to find and train the right person all over again.

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