– Production costs (Buying raw materials)
– Operating expenses like power, diesel, fuel, levies, and salaries.
– Procurement
These are necessary for the business but shouldn’t be where you FOCUS all your energy as the CEO.
If you truly want your business to grow and be profitable, you need to guide your business energy toward focusing on activities that add money to your business.
Here’s another practical example.
As a business consultant, I have to market my solutions and then execute them.
At the moment, I focus more of my time on marketing consulting solutions and selling my knowledge products.
I do 70% marketing and 30% consulting.
What you are reading now is part of the 70% marketing.
My team also divides their time between both activities.
Do you see how that works?
Photo: Our accountant in Excel Suites, Oluchi explaining their financial report for the week