Entrepreneurs have the same 24-hour day as everyone else. However, they have millions of decisions to make, questions to answer, and calculations to be done. With so much going on, staying focused can be challenging, affecting productivity.

Is it possible for entrepreneurs to stay productive even with a full plate?

There are three questions that can help maximize productivity for entrepreneurs. These questions should be asked daily.

Will this bring growth to my business?

Growth should be the main focus for any entrepreneur. It is crucial to make decisions that will lead to the growth of the business. Every action taken by the entrepreneur should contribute to the growth of the business.

Decision-making skills are essential for entrepreneurs. Having a process or framework for making decisions is important. For example, Elon Musk uses a six-step process to make business decisions.

Can I delegate this to someone?

Delegation is key to running a successful business. Jack Welch, a well-known CEO, emphasized the importance of delegation. As an entrepreneur, it is crucial to delegate tasks to specialists who can handle them efficiently.

Delegating tasks saves time and energy for other priorities, such as strategizing and growing the business.

If I don’t do this what will I lose?

Not every task can be done by the entrepreneur. It is important to assess the opportunity cost of not doing certain tasks. A cost-benefit analysis can help determine the best path forward.

The time value of money concept can be applied to time as well. Assigning a monetary value to time can help in decision-making.

By asking these three questions, entrepreneurs can prioritize tasks effectively and improve their productivity.

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Image credit: Andreas Klassen on Unsplash

The article was first published on December 1, 2020

The post The 3 questions that will help maximise every entrepreneur’s productivity appeared first on e27.