In the frantic world of entrepreneurship, the buzz of activity can be deceptive. Business owners often find themselves caught in a whirlwind of tasks, struggling to balance the demands of administration with the imperative of business growth.
But amidst this chaos, there’s a critical question to consider: When doing business administration, are you avoiding the profit?
Attempting to handle all aspects of administration single-handedly is akin to a futile juggling act. For a deeper insight, Business Aspects Magazine spoke to Debra Blackman, a business support expert from Viessentially. Here’s what she had to say:
“It’s a zero-sum game where the pursuit of administrative perfection comes at the expense of profitability.”
“We may feel pride in doing all the tasks, but every hour spent on low-grade administrative work is an hour not spent on high-grade, revenue-generating activities.”
Debra Blackman, Managing Director of Viessentially
The problem can go further than this, however. Could it be the case that entrepreneurs are doing admin instead of business growth on purpose?
At first consideration, it sounds ridiculous, but Debra outlined a common scenario that can occur in businesses of all sizes:
“Procrastination is a natural part of the human condition,” She explained, continuing: “We all do it to one extent or another, but some procrastination goes undercover as ‘productive’ work.”
We all know the scenario, as soon as the annual tax return is due, we suddenly decide to tidy the cupboard under the kitchen sink or sort out the garage. We feel less guilt if we put off one task with another, rather than just doing a crossword or watching television.
“It is the same within our business day. It can be daunting to chase up old leads, or hard work to research new prospects and organise meetings,” Debra outlined. “Instead many business owners will fill their days with administration and unwittingly avoid the profit they could be making.”
How can business owners break free from this profit-draining cycle?
The answer lies in strategic delegation and outsourcing: “Of course, businesses still need to get their administration done – but it should not be done by the senior leaders. Businesses of all sizes and all administration loads will benefit from outsourcing their admin.”
Every hour outsourced is an hour that can be spent on business growth, and hence profit growth. Entrepreneurs can reclaim their time and redirect their energy towards profit-generating endeavours. Debra explained that the process of outsourcing is easy and surprisingly cost effective:
“You’d be amazed by how economical outsourcing can be in the modern era of globalised remote work and freelance contracts. Business owners shouldn’t feel like they have to wrangle with an extra employee to clear their plate of the administration.”
Next time you find yourself buried under a mountain of paperwork, ask yourself: Is this task helping me make a profit? If not, it’s time to reassess your priorities and reallocate your resources wisely. After all, in the world of business, every minute counts towards the bottom line.
For further guidance on how and where to outsource your business administration tasks, contact Debra Blackman from Viessentially via LinkedIn here, or email db@viessentially.com.
