Tim Ferriss Shares 3 Tips for Small Business
Yesterday we told you about Tim Ferriss's new reality show on HLN, where he uses productivity techniques to learn new skills in short periods of time. Ferriss, who is the author of The 4-Hour Workweek, has also shared a few simple yet effective productivity tips for small businesses.
Create a New Category
“From a positioning standpoint, if you’re undifferentiated in a crowded market, it’s going to be a race to the bottom, in terms of lowering prices and increasing hours per week,” Ferriss suggests. “From the outset, positioning yourself intelligently can save you a ton of work and make it a game that’s easier to win.”
Do a Monthly 80/20 Analysis
The 80/20 theory says that 80% of the results come from 20% of the efforts. Determine what this 20% is and how you can maximize on it. “As a business owner, it’s very easy to fall into the trap of being busy, and being busy is not necessarily productive,” Ferriss said. Use this theory to focus your efforts on the right tasks.
Get Hold of Your Email
"Email eats so much time,” Ferriss said. “First, because it’s everyone else’s agenda for your time, often including manufactured emergencies. Second, email allows you to fool yourself into thinking you’re being productive.” Try checking your email just twice a day and using an app like Boomerang or emailga.me to schedule reminders and emails that can be sent later on.