Time limited turnover is a phenomenon familiar to all of us who have ever started a business, grown a business or worked in a business.
The number one symptom is busy-ness. It’s true, we all get busy doing the things we do – from working with clients and customers, networking, sales and admin, to managing our staff and team.
The challenge is simply this: when presented with an opportunity or desire to grow, a requirement for investment is created, yet we are unable to invest because we have no time left in our busy schedule to increase our turnover or capacity to match.
More and more people expand their expenditure to match their income.
Many do this in their personal life so why not in business?
In our personal life we set aside an amount each month for savings and our retirement fund to secure our future, our business should be the same.
Growth is a result of investment not cost cutting.
If we are truly serious about growing ourselves and our business, our organisation, our team, and building a better future, investment must be our top priority.
When our priority is customers, clients, or anything other than investment, we have no choice but to be busier, and yes, our turnover may increase, but one day, perhaps even now, our capacity for turnover will be capped by our available time. Sadly, for many at this point, it can be too late.
We are spending all our income, we are as busy as we can be, yet when we want to grow, we cannot because we have no spare cash to invest and we cannot be busier to earn it.
We resort to cost-cutting and ‘trying to do it ourselves’, and then begins the slippery slope….
What I will say is that in business, there is a solution for busy-ness.
In the same way as we do in our personal life, set aside an amount to secure our future.
My recommendation, between 5% and 10% of our monthly turnover. I use a percentage because as our business, organisation and team grows, we need to increase our investment levels.
Look at it this way, imagine you plant a beautiful flower in your garden – would you save costs by never watering it, would you save time by never tending to it – of course not. Why? Because it will not grow and thrive and in many cases it may die.
Whatever our business, organisation, position or role, our capacity is limited by our time.
Unless we invest, growth can be nothing more than accidental.
Please do not get caught up in this concept of Time Limited Turnover, almost every business I know has or will unless they take action.
Book a call with me here to talk about consistent profitability.
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I help owners, founders and leaders create a scalable business that works without them, build a world-class team, and 10x profitability. Book a call with me here to see if we could work together.
Remember, there are only three types of people – those who make things happen, those who wait for things to happen, and those who talk about why things don’t happen for them. Which one are you?
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