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  • Writer's pictureDiana Miret

Question # 18: Should I do administrative activities myself to save money?

Short answer: NO.

Struggling business owners will spend time to save money, whereas successful business owners will spend money to save time. Because you can always get more money - you cannot get more time. So you need to ensure the stuff you spend your time on makes the biggest impact.

This is called leverage and leverage is the best kept secret of the rich.

By far, the biggest leverage point in any business is marketing. If you get 10% better at marketing, this can have an exponential or multiplying effect on your bottom line.

You should spend more time on planning and executing on your marketing than on any other activity until you are completely referral based.

How much time are you spending on Marketing? Until you are 100% referral based, spend 25-50% of your time on it.

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