Kathie Nelson | Business Coaching, Business Mentoring | Portland, Beaverton, Oregon

Profit Leak #1 – Being Stuck Costs

Posted by kathie on Tuesday, May 10, 2011

Profit Leak #1 – Being Stuck Costs or should it be Penny Wise & Pound Foolish

I hate losing money.  The curious thing is that even as much as I hate losing money it is easy to fritter it away in small pieces without realizing the impact.  You know what I’m talking about, don’t you?

• The overcharges you get from a vendor that it takes you more time to clear up so you simply pay.
• The subscriptions you don’t read.
• The services you pay for thinking you will use, but never do.
• The memberships you don’t make the time to utilize.

These are some of the obvious leaks that can add up.  I think we’ve all been trying to pay attention to where our money goes in the last couple of years. But what may have gone unnoticed are the “hidden” leaks in your business that are just as damaging …if not more so. I want to draw attention to those invisible leaks that cost you more than you realize.

• The cost of being stuck
• The cost of time
• The cost of disorganization
• The cost of people

How much time, energy, and momentum do you lose because you are stuck?

Let’s do some simple math here.  I am using round numbers to make this easy.

If your hourly rate is $75 and you spend more than 20 minutes being stuck, it costs you around $25.  If you are stuck because of a mindset or overwhelm, you experience the ripple effect of reduced productivity on other projects you are working on as well.  I am being conservative here, of course. For those of you with a higher hourly rate, I will let you figure it out.

How many 20 minute segments if time being stalled or stuck do you experience per week?  What if it isn’t just 20 minutes but rather hours invested in wrestling with projects that block you?   Can you afford it?

In my video tips to break the cycle of overwhelm, I identify four major ways we get stuck that drain our time, energy … and our bank accounts. I also reveal the ways you can get yourself over these hurdles and moving again. That’s right. Simple techniques that take seconds yet make a huge difference in your productivity.

Click here to get your Profit Leak Video Tips.

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To your success!
Kathie Nelson
http://www.KathieNelson.com