Do you ever feel like you’re working nonstop, but your bank account doesn’t tell the same story? As a business owner, it’s easy to fall into the trap of working hard and going nowhere — like being on a stationary bike. Busy ≠ profitable.
One of my favorite tools for this problem is a slight modification to the Eisenhower Matrix (you know that four-square thing that sorts tasks by urgency and importance?). You can change those labels and get some pretty interesting insight.
Take, for example, profitability and enjoyment — because we need to make money and we don’t want to hate the business we’ve built.
Sit down and make a list of everything you do — care plan updates, design, development, SEO, accessibility, and whatever else fills your week — and start dropping it into a matrix like this.
- Hate It / Not Profitable This stuff is toxic. If you can kill it off, don’t hesitate. If you can’t (like doing taxes), at least put systems and guardrails around it so you can minimize any time spent in this corner of the quadrant.
- Hate It / Profitable These are the money-markers that you secretly resent. If you hate it, you’re probably not giving it your best anyway, so these are perfect tasks to outsource or give to your team. Sure, you’ll make a little less, but you’ll actually enjoy your days again.
- Love It / Not Profitable This is the danger zone for most of us. It’s easy to get lost in these tasks and feel busy, but end up with nothing to show for it. It’s not to say they shouldn’t exist, but you have to be honest about how much time you’re spending here and if you’re running a business or financing a hobby.
- Love It / Profitable This is the sweet spot. The Goldilocks zone. Anything in this square is worth doubling-down on. It’s where you should be spending 70%+ of your time and all of your marketing efforts.
The reason I love this little exercise is that it’s visual, it’s hard to overthink, and it gives you instant feedback. If you can scratch out 10-minutes to spend on this, you’ll see right away why you’re broke, burned out, or both.
