Learn to pri­ori­tise

Penrith Press - - CAREERS - Janita Singh For more de­tails: mattmalouf.com.au

BUSI­NESS own­ers are be­ing urged to stop get­ting caught in the trap of think­ing that do­ing more pro­duces bet­ter re­sults.

Busi­ness strate­gist, coach and au­thor Matt Malouf says of­ten busi­ness own­ers are slaves to a “to-do list”, but this is not the an­swer to achiev­ing progress, or pro­duc­tiv­ity.

“To make mat­ters worse, we equate suc­cess to the num­ber of tasks we get done on that list,” Malouf says.

“To win in to­day’s fast and ever-chang­ing busi­ness en­vi­ron­ment, you need to have a ‘stop do­ing list’. Try­ing to do every­thing your­self and think­ing you are sav­ing money and/or sav­ing time is of­ten the wrong ap­proach.

“The fastest-grow­ing busi­nesses aren’t led by the peo­ple do­ing the most, but by those peo­ple who un­der­stand what the most im­por­tant things are.”

Malouf has writ­ten a book, The Stop Do­ing List, that aims to show busi­ness own­ers how they can avoid un­pro­duc­tive ac­tiv­i­ties and work to­wards sus­tain­able growth.

Draw­ing upon decades of ex­pe­ri­ence help­ing busi­nesses, Malouf says work­ing smarter is the an­swer.

“If you’re like most own­ers I work with, you prob­a­bly got into busi­ness to earn more money, have more time and find more free­dom,” he says.

“How­ever, many busi­ness own­ers feel they’ve lost con­trol of their busi­ness and life.

“The first step is to cre­ate the list and then, over time, ei­ther elim­i­nate, au­to­mate or del­e­gate tasks to oth­ers.

“The re­al­ity is that 20 per cent of what we do will bring us 80 per cent of our re­sult. The 80/20 rule is a fun­da­men­tal law and un­til we un­der­stand that we need to stop do­ing many of the tasks that are be­ing put in front of us and fo­cus on the most im­por­tant, then growth will be lim­ited.”

Reap re­wards

›› Matt Malouf says if you want to save time and in­crease prof­itabil­ity, you need to stick to your Ge­nius Zone – the three to five ma­jor tasks you own and that you in­vest the ma­jor­ity of your time into to gen­er­ate max­i­mum re­turn.

›› A “stop do­ing list” will help you get clar­ity on what tasks you should fo­cus on or turn down.

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