What Truly Matters in Your Business?

In today’s blog post, you’ll learn how to identify what truly matters in your business. As entrepreneurs, we can easily get overwhelmed by our tasks, leading us to forget what truly matters.

What are the most crucial tasks for your business?

These are the “big rocks,” and we’ll explain why they’re called that in a moment. However, if you’re unsure about what truly matters, you can easily waste time on insignificant tasks that don’t advance your business or make a significant impact on your bottom line.

This is why it’s crucial to take the time to identify what truly matters in your business. That’s the focus of today’s lesson, so let’s dive in.

As I mentioned at the beginning of the episode, it’s essential to understand what truly matters in your business. What are these “big rocks”?

This concept originates from Buddhist teachings. I first heard this on a podcast by a business coach and entrepreneur, Omar Zenhom. The teachings suggests that in life, we have three main components: big rocks, pebbles, and sand. If we fill a jar with sand first, then pebbles, and finally, big rocks, there won’t be enough space for everything.

In our entrepreneurial journey, sand represents emails, social media, direct messages, and other small tasks that consume a significant amount of our time. These are like tiny grains of sand. On the other hand, big rocks are the significant actions that truly drive your business forward. This includes closing substantial deals that increase revenue, investing in product improvement, and enhancing your service to encourage word-of-mouth referrals.

These are big rocks—tasks that require more time and concentration but have a profound impact on your business. The pebbles fall somewhere in between.

According to the tradition, it’s recommended to prioritise big rocks first, followed by pebbles, and then sand will fill in the remaining space. Therefore, we need to identify the big rocks in your business—the most important tasks you should focus on.

And it’s actually quite simple. I’ve been doing this exercise with our clients for years now and boiled it down to two questions you need to ask yourself.

Now, I did say it’s simple, but that doesn’t mean it’s easy.

This might take some real reflection and honesty with yourself. So, you may want to do this away from the computer and desk, just with a paper and pen, and then answer these two questions.

I’ll give you some tips on how to be honest with yourself.

So, the first question you’ll answer is, “What are the things I must do to for my business to survive?”. If you don’t do these things, your business will collapse.

Some examples include paying my bills to suppliers, ensuring my website hosting is up so people can check out and buy my products, and answering customer service emails, especially sales questions, which can lead to sales and revenue. If you’re a service-based business, you have to fulfil the service. For instance, if someone hires you as a website designer, you have to design their website.

These are just the things you must do to survive and maintain your business. You’ll be surprised how short this list is.

It’s actually not that long. You might think it’ll be hundreds of things, but it’s probably less than 10, maybe even less than five in some circumstances.

What are the essential tasks you must complete? The first task I mentioned, paying your suppliers, is simply basic business finance. I need to ensure I’m generating enough income to cover my bills. Sales are crucial for this.

You need to break down your business’s tasks. Consider what you must do to keep it running. If someone emails you about a networking event, that’s great. However, will your business collapse if you don’t respond? Most definitely not. You can reply within a week, and your business will continue functioning.

These tasks don’t directly impact your business’s survival. Be ruthless in your analysis.

What other tasks don’t significantly impact your business? Social media posting, for instance. If you skipped posting today, would your business fail?

Highly unlikely. You’d still be able to operate, sell your products and services, and word-of-mouth marketing would continue. I don’t know the specifics of your business, so I can’t say for sure what’s essential and what’s not. You need to identify these tasks yourself from your point of view..

First, list all the essential tasks to maintain your business and keep it afloat. Second, identify the tasks that drive growth.

In both cases, emphasise the word “have to.” What are these tasks? If you don’t do them, your business won’t grow.

Here’s a crucial tip: when answering these questions, ensure your responses are 100% accurate. For example, you might say, “I have to post on social, or my business won’t grow.” Are you certain? Have you tried not posting and seen if your business didn’t grow?

It has to be 100% true and proven for it to be fact.

In both of these questions, you must prove to yourself that the information is factual and not a hunch. Once you have these two lists, you’ll understand what truly matters and can focus on those as your “big rocks.”

You’ll begin to realise that you’re spending a significant amount of time on tasks that aren’t “big rocks” and have minimal or no impact on maintaining and growing your company. That’s okay because now you know how much focus it truely needs compared to other, more crucial things in your business.

We all experience that moment of realisation, where you realise you’ve been being foolish and misguided.

You might wonder why you’ve been spending so much time on things that don’t matter. The answer is simple: you didn’t take the time to identify what truly matters.

Today, after you’ve finished listening to this podcast, you’re going to do an exercise that will change your life, I guarantee it.

Identifying what truly matters in your business is only half the battle. Now, you need to make the time and focus on implementing those things. Don’t get distracted by the things that don’t matter.

I take the tasks I need to do to maintain and grow my business and block them off in my calendar.

For example, I might work on this time block on Monday, Tuesday, or Wednesday. This helps me remind myself that I need to focus on what truly matters.

I start by putting the big rocks in the jar first. Then, I fill in the rest of my calendar with smaller tasks. What I find is that I spend less time in my inbox and on social media, and it doesn’t affect my business because I only spend my time on things that deserve it.

Alternatively, I might start evaluating whether someone else can do my smaller tasks in my business. Maybe I can outsource them so that I can focus on the big rocks and the things that bring in the money.

The big aha moment that you will have, is knowing what truly matters in your business. What are the things that actually move the needle? What are the things that allow your business to survive and thrive?

Remember, you need to prove to yourself with data that these are the things that truly matter. Once you do that, you’ll have certainty, allowing you to focus on what truly matters. If you’re unsure, seek out the information.

Formulate a hypothesis and then test it. This exercise may take a few extra days than expected, but it’ll be beneficial for years to come. It’ll provide clarity and help you feel in control of your actions.

It’ll allow you to know that you’re working on the right things and give you a sense of accomplishment.

Most of business is a mental game. You need to get your head right and break free from the monotony in your business.

Constantly question things to uncover the truth. Sometimes, we get caught up in the daily grind and our habits, overlooking what we’re actually doing. We might think, “Great, it’s working,” but there’s always room for improvement. You can rise above your current situation by changing things up and questioning your daily actions.

Got a burning question? Reach out on our social channels or email me at michael@purpleyak.co.uk

Thank you so much for reading.

Take care.