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.
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.
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.
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
ASSESS YOUR SHOULD’S VERSUS MUSTS
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.
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!
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.