Archive for May, 2017

The Fallacy of the Small Sample Size

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When asking your customers for their opinion, do you ask enough people?

I recently asked my customers (all small busines owners) for feedback about what time of day, and day of week, they prefer to take virtual classes. When the first 10 or 20 responses came in, it was clear that everyone wanted classes on Wednesdays at 7:00 PM. Wow! Who would have guessed?

I should re-schedule all my virtual classes to the evening time slot — right?

Wrong!

When I re-discovered my patience and waited to get the full response from 300 or 400 people, the results were completely, totally different.

When I waited for a larger sample size of survey results, new and important facts emerged: Wednesday was still popular, but of equal popularity was Tuesday and Thursday. More importantly, because I waited for a larger response group, I discovered the 7:00 PM timeslot slide down in popularity, to be replaced strongly by 12:00 – 2:00 afternoon timeframe.

Had I made business decisions based on the first 20 responses, I would have created a disaster.

When you have a business idea or decision to make, do you just ask five or ten people? Stop destroying your business by using small sample sizes in your surveys! The more people you ask, the better quality of results you’ll get.

Read more about the fallacy of small sample sizes, also known as “hasty generalizations.

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Category: Running a Strong & Efficient Business

Just Three Tasks a Day

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A colleague of mine in one of my mastermind groups shared a great tip with us a few months ago: instead of writing a huge to-do list every day (and never completing all the tasks), focus on just three tasks a day.

I’ve been trying this technique now for about 2 months, and I’m happy to report it is a winner!

Truthfully, I don’t know “how” it works; I just know that it does. Each day I choose three tasks that I will complete. If I finish them, I can always do a fourth task.

For some reason, having only three tasks a day feels so much more empowering that I’m able to do them easily, without stress and overwhelm. My to-do list is dwindling and I’m moving forward in my business at a faster pace.

Try it and see if it works for you, too!

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Category: Running a Strong & Efficient Business
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Increase Your Productivity: Institute Quiet Time

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Are you getting everything done on your To Do list?

No?

Join the crowd.

More and more self-employed entrepreneurs are complaining that email, phone calls, social media, and their beeping-buzzing smart phones are constantly causing interruptions, increasing stress and reducing productivity.

These constant interruptions are costing you productivity — and ultimately income.

In my blog post Choose One Project, I talk about the myth of multitasking. Talking on the phone and answering emails at the same time decreases your overall productivity. So does popping into social media sites while you’re trying to focus on an important project or task. It causes twice the number of errors when you multitask or allow interruptions to your task.

By allowing all these interruptions, you are losing TWO hours a day of productive time. Ouch!

The Solution

Many large corporations like Intel, IBM, and Deloitte & Touche are instituting something called Quiet Time: a block of time in which you cannot send or read emails, and may not make or receive phone calls (unless they are related to the specific project you’re working on).

Small business owners can do this, too!

I started to do this last year:

  • Core Productivity times are 9AM – 2:30 PM. All private client calls, group mentoring calls, classes, and project work are done during these hours.
  • Every Friday was “class design and book writing day.” No client or prospect appointments, no emails from 9:00 – 2:30, no phone calls at all.
  • Emails are handled twice a day – at 8:00 and 2:30.
  • Each day, return phone calls are handled after 2:30 PM (which is great because of the time zone differences between East and West coast).
  • When I really, really needed to work on a project in a deeply focused way, I’d bring my laptop to the lake, park or library, taking my work to a quiet environment without possible distractions. (I particularly like the lake because there’s no Wi-Fi there! :))

The Results of My Quiet Time Test

In a 12-month period, I designed and launched three new classes (including a 9-week class which was a whopper to design), wrote one new ebook, designed two new websites, and overall had a much happier and more satisfied lifestyle and work environment. Awesome!

Lest you think that you will be less productive in getting through your emails and phone calls if you institute Quiet Time in your business, think again. Having fixed times each day for email and phone calls increases your productivity, actually reducing the amount of time you spend on emails and phone calls. (I found I could get through 30-40 emails in a solid, planned hour, which would have taken me two hours if I had answered them in a scattered fashion throughout the day.)

If you are frustrated because you’re not accomplishing your projects and tasks, you need to schedule Quiet Time into each day. You will be happier and feel more fulfilled by your work if you do.

How About You?

Do you regularly block out time to get projects done? What are you doing to increase your productivity without getting burned out? I’d love to hear your stories and ideas!

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Category: Managing Projects, Tasks & Time, Running a Strong & Efficient Business
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Bombarded With Reciprocal Link Requests

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Have you noticed lately that you are getting a lot of requests for link exchanges? At first you think, “Hey, great, someone noticed my website!”

But look a little closer and you’ll find that these are link exchange companies that are hired to find reciprocal links for their site. Most of these are sites you’ve never heard of.

A link exchange may seem like a great way to get more traffic to your site. However, one of the key purposes of your website is to build TRUST with your visitors. If you send them to a service or product that you have never tested, you are diminishing the quality of your expertise.

When you put a link on your website, you are in effect saying, “I recommend this person and I trust their work.”

Don’t let your desire for traffic ruin your reputation.

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Category: Internet & Social Media Marketing, Website Planning