Most entrepreneurs are very busy and commit to a lot of things. In fact, they frequently commit to too many things, and then stuff starts falling through the cracks. A very easy differentiator for your business (and for you personally) is to create the habit of consciously committing and fulfilling.
It goes like this: Don’t commit to something that you can’t or won’t be able to do in the time frame you said you could.
I know this sounds simple, but it definitely is not easy.
Michael Port drilled this into us until it became a habit during the year I spent in his mentorship program. In fact, that is the primary takeaway I have from the program, and it has made a huge difference in my life.
When you miss deadlines, you cause yourself stress, and you potentially add stress for your clients, vendors, and employees. One missed deadline can set off an avalanche of missed deadlines if you are not careful!
This is actually preventable in most cases. Below are two suggestions for how you can create the habit of consciously committing and fulfilling in your business.
Use a decision-making filter
Your immediate response to a client, especially if there is money involved, might be to say, “Yes!” Often, you might blurt this out before thinking about: 1. the amount of time it will take to do what they are asking, and 2. what else you might have already scheduled in the future.
In this situation, I recommend adding in a two-second delay and thinking before you speak. Every yes means you won’t be able to do something else. There are only so many hours and a finite amount of resources.
As entrepreneurs, our most valuable commodity is our time. It must be managed wisely, and respected as the precious commodity it is.
Add a cushion
You, me, and pretty much everyone will underestimate the time it will take to complete a task or project.
If you are a consultant, or do some other form of “brain renting,” this is definitely something to manage against. Know that however long you think something will take, it most likely will take more time – or will get delayed for some other reason.
Keep track of how much you generally go over the time you allotted for a few projects. Then, start adding that time into your estimates. My general rule is 10-20% for most projects.
Please remember that nobody will be angry with you for delivering a project early and under budget. And if you quoted a fixed fee and came in under – bonus!
Using a filter to limit the things you commit to (so you can fulfill on your commitments) and giving accurate time estimates will make you a better professional – and may even carry over into your personal life, making you a better partner.
What I can absolutely promise is everyone who works with you will love you for it.
