I recently shared with you the concept of the "Time and Effort Chains" which are the factors that trap us within a business and force us to work lon
I recently shared with you the concept of the “Time and Effort Chains” which are the factors that trap us within a business and force us to work longer and harder, with little to no additional value or pay off.
And today, I wanted to share with you the final three chains that hold us back and keep us from reaching our goals. These coupled with an understanding of the time-value matrix and a new way to look at control within your business, will play a huge part in your success or failure as a business leader.
Chain #1: Lack of Clear Priorities and Objectives
Without clear priorities and objectives that every member on your staff understands, efforts get scattered and poor decisions get made. This leads to underperformance, which pushes you to chase after more control to set things back on the right path, which further robs the business of depth because you’re not prioritizing time to develop your team so that they can take on more responsibilities. It’s a negative reinforcement loop.
This also impacts your team as a whole. The lack of strategic structure for how priorities get established, goals set, and plans made causes your team to flounder and struggle. Of course, you’re always there to pick up the pieces and take back more control, but by this point you understand where that leads.
Chain #2: Lack of Strategic Depth
When you have a team that lacks the experience or talent to accomplish the goals you’ve set, you often find yourself pulled back into more closely doing and managing the functions of your department, division, or business.
It becomes a chicken and egg scenario: if you had the right people on the team, you could let go of more.
But because you have to handle so much of the work volume, you don’t have the time and attention to hire or develop the right people who could take off much of the load currently on your shoulders.
Round and round you go.
Chain #3: Outdated Time Habits
The world today is fundamentally different than the world we evolved to thrive in. Our time sense evolved in a business world where time and effort were once the things we were paid for.
But that has shifted over time. In fact, with the transformation of modern communication and technology, work no longer has to take place in an office or factory; you literally can work from anywhere.
Yet the geographical freedom we experience that of which our ancestors couldn’t have imagined has a dark side.
More and more of us feel compelled to always be on, checking our devices, responding to messages. The changing, 24/7, interconnected world has completely altered the way we live and work, but many of us simply haven’t updated our time habits to design the structure and systems we need to effectively and sustainably produce today.
If you see yourself in any of what I shared here today, then it’s time to take action and start moving towards a reality in which your time and value chains no longer hold you back from moving yourself forward as a leader and a business owner.
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.
This article is from Inc.com