Show notes from Episode #143 of the Sweaty Startup Podcast.
In business and in life, small habits build success, and one of the most important habits is time management. Beyond being efficient in your work, the most successful people invest their time in activities that deliver value over time. The four quadrants of time management, a framework made popular by The 7 Habits of Highly Effective People by Stephen Covey, can help you determine how to invest your time to help you grow your business and your life.
The Four Quadrants
- Unimportant, not urgent
- This is reality TV, video games, and time wasters .They can be fun, but they arenít vital to your business or your life.
- Unimportant, urgent
- Small inefficiencies that are more inconvenient than anything.
- Important, urgent
- Fire drills and daily operations, these are probably your main stressors.
- Important, not urgent
- These are activities that donít pay off immediately, but generate growth and value for your life and business success.
The people who are most effective with their time focus on things that are in what Covey calls Quadrant 2, important but not urgent. These activities are not necessarily time sensitive, they are easy to procrastinate on, but are important for growth. This includes marketing, employee training, getting Google reviews, etc.
In 2013, Storage Squad had 70% of their customers reach out to the team at some point in their lifecycle, either calling, chatting with customer service, or sending emails. This constant communication meant operations werenít streamlined and that time and money was lost in handling customer service.
Over the offseason, Nick developed a system to send automated email that went out at different times during the service window. Customers received an email when they signed up, before they got boxes, after they got boxes, and the day before their appointment, often including YouTube videos to make things as clear as possible to customers. In 2014, only 45% of customers reached out to the business in their lifetime, marking a significant reduction in customer service volume. More importantly, operations were smoother, trucks were on time, customers were happier, and fewer issues rose up.
Quadrant 2 activities will help you put out fires before they happen. Ask yourself what the biggest stressors of your business was in 2019, and think about how you can solve them before the problem comes up. These will do the most in scaling and growing your business as efficiently as possible; theyíre valuable activities that pay back over time, and can be done in February or March when business is slower.
This principle also applies to life. Donít wait until your health, personal relationships, or family are urgent when you should be watering those plants now. Donít wait to start networking or meeting people until itís urgent. The people who are most successful and have healthy lives are great at working on Quadrant 2, and youíll be glad you did.
A Few More Things
- Thereís been a lot of interesting material in the Sweaty Startup subreddit with entrepreneurs posting monthly or quarterly updates on their business. We highly recommend you follow along, engage, and possibly post your own content so you can see how other entrepreneurs are succeeding and get feedback on your own ideas.
- Nick is currently reading Call Me Ted, a book about Ted Turnerís journey in taking over his fatherís business and growing it into something that shaped American media.
- Listen to Episode 30 of the Sweaty Startup podcast to learn about how Nick overcomes the fear and anxiety of failure, and some advice on how you can do the same.