Unlock Your Time from Business Operations
Overview
If you implement these tools and frameworks in your business, then you will be able to create 24,000 hours in a day and grow your business as much as you want.
Outcomes to be achieved in this article are:
- Physical Presence: You will not have to be physical present in your business. Your business will grow quickly without any physical presence. Your sales will increase from 1x to 2x to 5x and 10x just investing your minimum time.
- Business Automation: You will discover the tools and technology that will help you utilize your time perfectly.
- Passive Income: You will understand whether an income is good or bad, which kind of income is good, and where you need to invest your time.
Learnings
#1 Case Study: Naukri.com
Founded by Mr. Sanjeev Bikhchandani, infoedge is the parent company of Naukri.com, which is one of the top job portals in India.
India’s first Listed Internet Company
Naukri.com was started to solve a burning problem which Mr. Bikhchandani figured out when that all his colleagues would see only the last pages of one of the magazines to search the job.
Realizing the fact that the said magazine was published only once in a month, he thought of creating a platform, which can provide that people information about the job every day. He thought that people searching for jobs like his colleagues would become his customers.
This resulted in the inception of Naukri.com, which has now capture a 70% share in the job listing market.
Lessons:
When he started the company, he faced many difficulties. He worked day and night without taking any salary. Then he realized that he was solving the right burning problem and took the following big decisions:
- He listed his company on the stock market, making it India’s first listed internet company. Today its share is among the high priced ones.
- He came out of the operational role, and become a Chairman and an investor.
- He hired Mr. Hitesh Oberoi as a new CEO of the company
- He started investing in the innovation-based start-ups to create passive income like:
- Zomato.com: It is a unicorn and a billion-dollar company, info Edge is the biggest shareholder of the company.
- Matrimony.com
His strategy behind this was that he wanted to unlock his time from the operational role and become manager and controller to take big decisions to create more value for himself, his employees, and shareholders.
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How to Become a Successful Entrepreneur
#2 Tools and Technologies
These are the tools and technologies to unlock your time from the business:
1. Google Calendar App
Being a free tool, it works as a personal assistant on your android or iOS mobile phone. You can use this tool to save your time in the following ways:
- Schedule all your meetings with employees, customers, and sales and video calls using Google Calendar.
- Invest your time only on meetings scheduled on the Google Calendar.
- Do not attend a meeting not mentioned in the Google Calendar.
Benefits of Google Calendar:
- If you implement this in your business, then you can make 18,000 hours out of 8 hours by unlocking your time.
- It will automatically give you notifications about the meetings.
- It will notify you about when to end a meeting.
- It will make you an outcome-driven business leader.
If you invest your time in every meeting more than mentioned in the Google Calendar, then it will result in a negative ROI of your time. So invest limited time in every meeting.
2. Zoom Video Meetings
It is a free tool that you need to implement in your business to save your time and money.
Benefits of Zoom Video Meetings:
- Hold video meetings with your customers.
- Organize meetings, sales calls and customer follow-up meetings without being physically present.
- Hold meetings with multiple people simultaneously.
- Record the video meetings for free.
- Save your and customer’s time and money.
#3 Frameworks: “Urgent Important Metrics”
You need to categories all your tasks in the company based on the following metrics:
- Urgent and Important
- Urgent but not Important
- Important but not Urgent
- Not Urgent and not Important
#4 Types of Income
- Passive Income: The income that is generated without your involvement is called passive income. You need to create a system, where income is generated without your time being invested.
- Bad Income: The income that is generated by consuming your maximum time comes under this category. For example, professionals like doctors, lawyers, and chartered accountants, etc. Generate income as long as they working. This kind of income comes under bad income, as here you are the sole source of income.
- Good Income: This income is generated by consuming your minimum time. This kind of income helps you grow your business without investing your time.
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