Are You Wasting Time In Your Business?
Do you or your team struggle with figuring out the best use of your time in business? Our Founder, Eric McLoyd, created a simple time usage analysis called M.A.P.S. The purpose of M.A.P.S. is to quickly identify where your time is going—where is it being spent?
The M.A.P.S. framework is laid out in 4 quadrants:
(M) stands for Marketing
(A) stands for Administrative
(P) is Prospecting and
(S) stands for Service Delivery
Your job is to analyze your time and figure out what percentage is being spent in each bucket. Depending on how you work, reviewing your calendar can provide great insight into past time usage. Also look at your schedule for today and then write down which of the buckets your time is going into—you may be shocked. In our on-going research in this area, we have uncovered 3 important things:
Small Businesses with the highest annual revenue have Founder/CEOs who spend the majority of their time in the Service Delivery quadrant. They outsource or hire others to take the lead in the other 3 quadrants.
2. Small Businesses who were successful in growth + scaling got to a point where the service delivery quadrant was handled by multiple people—not just the Founder/CEO.
3. Marketing and Prospecting are not the same thing. Where marketing tries to bring in targeted leads, prospecting nurtures those targeted leads in hopes of converting the lead into an actual client.
Take some time this morning to run yourself or your team through a quick M.A.P.S. analysis. This could be the answer to why you business is not growing or get to the next level.