How to Do #AllTheThings In Your Rental Business | Lane' J. Richards

How to Do #AllTheThings In Your Rental Business

September 24, 2019

Owning a rental business means juggling client inquiries, posting to social media, pulling, prepping, packing, cleaning, and restocking rentals. On top of having to maintain an orderly and clean warehouse, coordinating delivery logistics, sourcing new inventory, and maintaining existing inventory. So, trying to figure out how to do #allthethings in your rental business without losing your sanity, and having time for self-care can be daunting.

So how exactly do you do it all? Well, first understand you simply can’t do it all. Something has to give! Here are a few strategies you can use that may help.

Outsource

The biggest tip I can share is to outsource! Determine those areas in your business that you don’t care to do, don’t have time to do, or don’t know how to do. Things you can outsource in your business are bookkeeping, social media posting, blogging, website updates, janitorial services, dishwashing (if you rent tabletop items), deliveries, and even setup/teardown activities.

Hire a Virtual Assistant

While you can outsource components of your rental business, you can also hire a virtual assistant (VA) to take on more responsibilities for you. This can sometimes be a better option than hiring, especially if you only need someone for a few hours a week. Examples of work for a VA include social media posting such as to Instagram or Pinterest, blogging, graphic design, bookkeeping, and managing Facebook ads.

Prioritize

With a million things on your task list, how do you determine what takes priority? In the Productivity Masterclass, I share 15 different methods to be more productive and prioritize what needs to get done in your business. My favorite tip is to use the ABCDE method. The power of this technique is that it’s simple. Here’s how it works:

THINK ON PAPER

  • Start with a list of EVERYTHING you have to do for the coming day and write it down. Do a complete brain dump.
  • You then place an A, B, C, D, or E next to each item on your list. An “A” item is defined as something that is very important, something you must do. This is a task that will have serious positive or negative consequences if you do it or fail to do it. If you’re like me, you’ll have more than one A task, so prioritize these by writing A-1, A-2, A-3, etc. in front of each item.

ASSESS YOUR SHOULD’S VERSUS MUSTS

  • “B” is a task that you should do but it only has mild consequences. This means that someone may be unhappy or inconvenienced if you don’t do one of these tasks, but it’s not near as important as an A task. You should never do a B task when an A task is left undone.
  • “C” is something that would be nice to do but for which there are no consequences whether you do it or not (ie: having coffee/lunch with someone, running a personal errand). C tasks have no effect on your business and are usually personal.
  • “D” is something you can delegate to someone else. You should delegate everything that someone else can do so you can free up more time for the A tasks (that only you can do).
  • Lastly, an “E” task is something you can completely eliminate and it won’t make any real difference. This may be a task that was once important but is no longer relevant. It may be something you do out of habit or because you enjoy it but every minute you spend on an E task takes away from an A task.

TAKE ACTION

The key to making this ABCDE method work is for you to discipline yourself to start immediately on your A-1 task and then stay at it until it’s complete. When you develop the habit of concentrating on your A-1, most important activity, you’ll start getting more done.

DETERMINING YOUR A’S AND B’S

Half the battle of prioritizing your list is determining what takes priority over something else. Another way to look at setting your A’s and B’s is to assign a dollar value to them. If that seems too daunting, place a dollar sign $ next to each item if completing the task is revenue producing. Examples of A-list items include emailing proposals or processing orders. That styled shoot may be fun to participate in, but if you’re too busy for anything else, you might want to rethink the timing of your shoot.

Hire

If you’ve been working with a VA and the work they’re doing is 20 hours a week or more, it will be less expensive for you to hire an employee. VA’s typically charge between $30 – $50 per hour (and usually have packages of hours) whereas an employee can be drastically less, even after you factor in unemployment insurance, payroll taxes, and other benefits. It may seem scary to hire because of the payroll reporting, but programs such as Gusto make the process super easy. (Read more about determining when to hire your first employee here.)

I hope you’ve learned a few new ways on how to do #allthethings in your rental business. If you have a method that’s worked for you, let me know in the comments below!


Need Help With Determining How To Do #allthethings In Your Rental Business?

I work with specialty and vintage rental businesses large and small, helping you build and scale your business and be more productive. 

If you need a virtual assistant recommendation (I’ve vetted several), want to learn more productivity techniques, or create a customized strategy for your business, check out my Productivity Masterclass, or contact me via email or call 619.577.3117 to inquire about customized services for you.

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