Yesterday I discussed with a close friend about what it takes to make oneself financially free.  This friend has been undergoing a lot of personal development over the years and has a very clear view of what he wants to achieve in a short period of time.

My argument was that to become financially free via the traditional methods (not winning lotto or getting an inheritance), you need to work really hard.  His response was “it’s not about working hard – it’s about working smart”.

Upon reflection, I realised that it comes down to interpretation. Perhaps ‘hard work’ need not be difficult – I see it as persevering to achieve an outcome, and doing what it takes to reach it.

So let’s explore whether working hard is enough to make your business successful these days.

Well, are you currently letting your business run you? Are you reacting to clients, staff and suppliers instead of being proactive… do you often find yourself in a state of disorganised chaos?

OR… Are you in control of your processes, functions, and have systems in place to manage things in a calm and consistent manner?

People who run around busily each day without a clear goal or purpose are creating a lot of noise and flying papers, but they aren’t getting anywhere.

While those who link their daily activities to their strategic goals are creating less waste and inefficiencies, are finished sooner, and could be defined as working ‘smart’.

What Does it Take to Get Ahead?

The key to working smarter is to be really clear about what direction you are heading in.

-       What are your business goals and objectives?
-       What are the timeframes you want to achieve these within?

THEN, look at your daily activities and ask:

-       Are these activities linked directly to my strategic goals?
-       Or am I doing lots of ‘stuff’ without really achieving anything?

You’ll realise fairly quickly from your business results what the answers are.  You’ll also know from your internal sense of achievement.

The key to working smarter (and not harder) is to align your daily tasks and activities with your larger strategic goals. Then to use systems, technology and processes to make it more efficient and take the load off you.

That’s where a highly automated Email Marketing and CRM system comes into it, just like Infusionsoft.

I know, you don’t really want to outsource your whole life, just the tedious and difficult bits, right? I’ve been re-reading Tim Ferris’s book, “The Four-Hour Work Week”. Compared to the average small business owner’s week of 45 to 80 hours – just FOUR does seem fanciful, even ridiculous. It all comes down to how to make more money with less time in the business, freeing you up to do a variety of things you enjoy. (The book has been updated/expanded in December 2009).

When following the steps outlined in Ferris’s Dreamline worksheet, the cost for those things that we put off every year (a great holiday, a car upgrade, a gardener, etc) are typically not that much in total monthly income — remembering that figure is on top of the usual household costs. In fact, some of my “costs” also could provide an income, if using a low-cost virtual assistant. (Part of the outsourcer’s work could be billed to clients, or at least free me up to do more billable projects.) Tim Ferris blog – Ideal Lifestyle Costing has all the necessary calculators to work out costs of your own ideal lifestyle.

Also, qualified remote support staff can be outsourced for as little as US$300 per month (around $2 an hour) and they can do a variety of things like follow up calls, invoice creation/reminders, link building for your SEO, etc… all those things that eek away your daylight hours. Because they are working specifically for you on the projects you need, there won’t be any staff time wastage or double-instructing. See www.remotestaff.com.au for ongoing administrative tasks, or ask about the specialists at Infusionoz.com.au for higher level tasks like web design, e-marketing, CRM implementation, and content writing (also offering good value/prompt attention services and located in Australia).

Of course, remote outsourcing goes hand-in-hand with automated technology and streamlined systems. Great systems means higher productivity. Higher productivity for the average small business owner might mean more billable hours, with less stress and chaos in their lives. For a Mumpreneur it might mean more time to spend with family because her income doesn’t drop with periods away from the business.

So many business people are still stuck in the paradigm of exchanging time for money – what is my hourly rate, how many hours can I bill?

But when we see our business as a marketable entity – with products (passive income), Intellectual Property to record and protect, and a brand to promote – we start to see it as an Asset. We may even have a saleable asset, if someone else could take over the systems and product sales down the track and continue the revenue streams. Does that sound worthwhile?

I was thinking today about the rise of the Guru in internet marketing. If we are to achieve our goals, do we need to follow a Guru? A coach? Or do we tread our own path?

Let’s look at what the most successful entrepreneurs tend to do. They research and learn from others. But a critical difference is that successful entrepreneurs do not ‘buy in’ to a guiding Guru’s opinions. They have their own. They question common preconceived notions (this often leads to new markets or new products).

Many successful entrepreneurs today have followed their passion with true grit and a real mission to complete. They face adversity, as you will, on a daily basis, and learn to make decisions quickly and not get caught up in second-guessing themselves.

Entrepreneurs learn from experts in other fields in order to shortcut their learning. They surround themselves with the best specialist consultants, contractors and employees, since they cannot DO everything.

Examples of single-minded entrepreneurs (no groaning please):
•    Anthony Robbins of Robbins Research International (Booklist on Amazon)
•    Sir Richard Branson (latest book: Business Stripped Bare)
•    Bill Glazer (book: Outrageous Advertising)

“Richard is the only person in the world to have built seven billion dollar companies from scratch in seven completely different sectors” (Amazon).

My point is, you can learn a lot from the work and success of others, as long as you remind yourself that you are taking steps along a path and that no-one is the final figure of authority.  Of course we all need some support along the journey, and some people choose a coach for that.

What role can a Life/Business Coach play?  A coach is a sounding board and guides you to practical, time-saving methods and smart business practices. Sometimes they are the sole encouraging voice, someone to help you achieve your goals in small steps. But they are not the final authority, you are.

You don’t have to wait for all the answers to get started on that lifetime dream, because you learn as you go along. If you learn from others who have built businesses, while promoting your own unique qualities, then you will surely become a business success.