Therapy – without the couch

I met with a client the other day for our usual monthly meeting.  I’ve been his Virtual Marketing Director for a few months now and his business is starting to really thrive now.

We talked through the new opportunities he is bidding for.  We discussed his marketing activity, particularly his networking as that is what is really driving the new growth, he’s done in the last month and the results he’s getting – all the normal things we talk about.  He is a very happy client and I hope he will continue to be so for a long time to come.

Just before the end of the meeting (about 9.30pm as we meet in the evenings in a pub) he commented that part of the reason he likes what we do is that it is like therapy! He gets to talk through what he’s doing or thinking about.  When he’s concerned or worried about something we discuss whatever is bothering him and he goes away feeling much more confident about the situation.

Now, I’ve never looked at myself as a therapist.  All I do is listen and then give my own personal opinions and thoughts.  Sometimes its a “have you thought about”; ocassionally there’s a “these are the pro’s and con’s as I see them”.  In very rare circumstances I might chuck in a “this is what I would do”.

Is this what small business owners are looking for? Should I market myself as some sort of therapist, as your Virtual Marketing Director or is that what their other half is for?

Your thoughts and comments would be appreciated?

What’s the value of your time?

Have you calculated the value of your time?

As a small business owner you will do a variety of different tasks within your business. Some because you have to and some because you want to.

As the entrepreneur you are, the “want to” jobs are the most fun ones: service delivery, sales, customer relations, new product development etc. The “have to’s” (book-keeping, paying invoices, bank statement reconcilliation etc.) you do when you can no longer put them off.  The question is:

Which jobs should you be doing?

 The way to answer that question is resolved looking at two simple numbers:

  1. What rate are you charged out at?
  2. What is the cost of others doing these jobs?

If No.2 is lower than No.1 and you are struggling with time for all your jobs, the answer is simple: concentrate on what brings in the money.