How to Leverage Your Most Precious Resource: Time

Text of my newsletter from 12th July

A few weeks ago, I gave you some statistics that showed if you start a business in your 50s you are up to 2.8 times more likely to be successful, than those who start a business in their 20s.

Maturity is not a guarantee of success, though.

And we face a different challenge from our younger colleagues: we don’t have as much time to get it right, or to recover if we get it wrong.

I’m the first to admit I’ve been lucky with my business – it could definitely have gone wrong! But, to some extent, we make our own luck.

I deliberately chose to keep my business small, to use my own savings rather than borrowing to fund it, to use technology as effectively as I could, and to focus on what I knew, rather than what I enjoyed.

Using technology effectively is one of the best ways of managing the scarcest resource all one-person business owners face: time.

But success is all about using leverage wherever you can, not just in managing time.

My approach to setting up and operating my business has worked for me, and I’d recommend it to anyone setting up their own business in their 50s.

In that vein, the first article I’ve linked to this week covers 7 recommendations that will help you make a success of your new, post-50 business.

This week’s links

In addition to those 7 recommendations, I’ve also linked to 10 tasks you can outsource to a VA (another way to leverage time), 7 ways to create unique content and how to write killer copy.

How to power your success as an older entrepreneur

As I said earlier, when we start a business in our 50s we don’t have as much time to get it right, or fix it if we get it wrong.

Here are 7 tips that will help you to get it right first time:

7 ways to make a success of your new business after 50

10 top tasks you can outsource to a VA

Part of leveraging your time is looking at the regular tasks you’re faced with in your business, to see whether you can outsource them to a Virtual Assistant.

One that I’m seriously considering outsourcing is social media marketing. It’s a task that every business, of any size, has to do, but it’s also very time-consuming.

A couple of weeks ago I wrote about how I’ve gone into partnership on a recent project, and my partner in that case is an expert on social media.

Witnessing the success his social media activities have brought to that project, has led to me to consider outsourcing the social media tasks for my primary business.

Here are 10 tasks that you can consider outsourcing to a Virtual Assistant:

10 tasks you can outsource to a VA

7 Ideas for creating unique content

There are currently over 1.86 billion websites online. That means that finding subject matter to write about, that hasn’t been covered before, is tough.

And if you don’t stand out in some way, you’re going to be struggling.

One way of standing out is to tackle subjects that are awkward, that impart your personal experience of something, or that positions yourself as a unique authority.

This post on Ittybiz goes through 7 different approaches you can take today, that will enable you to create content that’s fresh and different:

7 ideas for creating unique content

How to write killer copy

This article, by Matthew Stibbe, focuses on how to write powerful copy for websites, but the principles it offers are good for writing anything where you’re giving important information, or asking the reader to do something.

He gives examples of both good and bad copy, but the one thing he misses is the importance of spacing.

Spacing that is in proportion to the font size and screen width, makes a huge difference to the readability of websites, particularly when viewed on mobile handsets.

And good readability improves your conversion rate.

How to write killer copy

Fun flashback

I love watching bands like Status Quo because they so obviously love what they’re doing, as well as being very good at it!

Here they are doing ‘Rocking all Over the World” at the Radio 2 Live in Hyde Park festival, in 2019:

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Martin Malden

Martin Malden
Owner – WealthyDragon

Website owner: Martin has been working online since 2006 and focuses on two areas: 1) affiliate marketing and 2) designing and building websites based on WordPress. He has his own WordPress agency, and serves clients in Hong Kong, Australia and the UK.