In this video I’ll cover:
- The 3 key things that will tell you whether or not to finally let go of a project
- How to dig deep and find out just what projects you should be working on right now
- Why simply dropping a project might not be the best choice – and what you can do instead
Watch the video:
Click here to ask Melissa a question.
Time Freedom Video Transcript – 3 Signs it’s Time to Let Go of a Task or Project
It’s Melissa Ingold from TimeFreedomBusiness.com and we are back again with another reader question. This week’s question comes from Jennifer.
“I have several projects going on right now and none of them are making me very much money. It feels like they’re just a big time suck. I already have so much energy and money invested in them that I can’t just let them go. What can I do?”
This really comes down to the signs that are cropping for you, Jennifer. Clear signs to me that maybe because you’re so entrenched in everything that you’re not really seeing them. The signs are pointing to you that it’s time to let some of this stuff go. You are really overwhelmed, you’re trying to break your focus into a lot of different areas. When we’re not focusing on one specific thing, it’s really hard to make that specific project profitable and really successful. We feel kind of guilty when we have all these balls in the air and we’re not giving attention something over here, we’re spending a little bit too much time there, so we keep trying to juggle all these balls and give a little bit of time to each one. That really is not good for you, your family, or your business.
Three key things that come up that will tell you it’s time to let a project go. You can either just tolerate it, keep going the way things are, or you can just let it go and free up that space to let in some amazing opportunities.
One of the signs is that you feel like it’s a big time suck. It’s almost like you’re wasting time on all these different things, but that may not necessarily be the truth. I bet there are one or two really key projects that you have going on that you love more than a lot of the other different ones. All those other ones, maybe they’re making a little money and they have the potential to be successful, but because you’re not able to devote a lot of your time and energy to every single one without going completely crazy, that’s a clear sign that some of those things need to be let go.
But, not necessarily let go – I’ll explain that in just a minute.
Another sign is that you are being taken away from the projects that could be really profitable. I just mentioned that I bet you have one or two key projects that really fire you up, that make you energetic, that you love working on them, but that guilt crops up and then you feel like, “I better spend some time on that and that, because I’ve already invested so much into those other things,” so you feel guilty when you’re not spending enough time on that other stuff. It’s pulling you away from focusing on those projects that could be really profitable.
The third sign is that you are being pulled away from your family and your friends and you’re just not able to spend as much time with them as you would absolutely love to, because you have so many different balls up in the air and you’re trying to do a million different things. That focus and energy is not being funneled into the things that are really going to grow and really take off.
Work on the Projects That Make You Want to Throw the Covers Off and Run to Your Office
What I suggest to you is that you start making a list of all the projects that you have going on. I want you to go through them and pick out the ones that really get your blood pumping, that make you excited, and make you want to throw the covers off and run to your office in the morning. I want you to circle those projects. Those are the key projects that you are going to start focusing all of your work time, the time that you set aside to work, and your energy, and your monetary investment putting money into those particular projects to really make them profitable.
Then I want you to make a note of all the other projects that maybe are making some money so you don’t really want to let them go because you need that money to keep coming in. I want you to look at where you can start delegating some of those projects to a virtual assistant and perhaps she can take over some of those.
For instance, if you have a couple of profitable blogs that you want to keep active but you’d rather focus on that project that is making the most money or that you’re the most excited about. She can take over the tasks there, maybe posting content and keeping the Facebook page for that website active. That way you can focus more of your time on the stuff that you really want to be doing and she can handle those other projects.
Otherwise, you can always just get rid of the project, trash it. If you don’t really want to delegate it, you don’t want to pay someone else to handle it, and you certainly do not feel excited enough to keep going. There’s no point in you putting time, energy, and money into projects that are just not giving you a return on your investment.
Recognize the Signs That Something Needs to Change
Those are the three signs that are going to be thrown in your face, that are going to keep coming up for particular projects that you’re working on. Those signs could be telling you, “Hey, something has to change here.” You have to delegate, you have to get refocused, and you want to make sure that you’re not spending all of your time working, you have to have time for family. That’s where a team can really come in and support you in achieving your goals for those projects that light you up.
That’s what I suggest you do. The key takeaway is to make that list of all of your projects, choose the one or two projects that just get you pumped up and that you’re so excited about, and make those the projects that you focus on. Get rid of any projects that feel like a weight, you’re not excited about them, and they’re just costing more time and money and not worth keeping in your business. I would just get rid of those.
Invest In The Projects That Make You Money
Then any projects that you have that are making some money, that you don’t really want to get rid of, maybe they’re getting some great traffic and you want to keep those running. Those are the things that you can delegate. Start making a list of tasks for a virtual assistant to come in and manage those other projects for you and make sure that they’re staying profitable while you focus your time, energy, and resources into really ramping up those projects that are going to be really successful.
That’s it for this week’s reader submitted question. If you’d like to send in a question about outsourcing, delegating, teams, anything related to that, I would love you to just click the link below this video and you’ll be taken to a form that you can fill out to send me in your question. I would love to answer it on a video just like this.
If you have any questions, comments, or you want to share feedback on this video, I would love to connect with you over on Facebook. If you go Facebook.com/TimeFreedomBusiness, I’ll see you over there.
Thanks everyone. Bye.