In this video I'm going to cover the fundamentals of time management goal setting and resource allocation

and a few other important tasks for the planning of your business.

Ordinarily I would probably split up all of this into separate videos to tackle one large topic at a

time but because you have to introduce extra simplicity into all these elements we're going to put Timpson

simplicity as an emphasis here because you don't want to get bogged down by the details of this.

He don't want to make your business cumbersome.

You want to make it really easy to move forward.

And I'll give you the theory here and just so you see how easy it is.

I'm going to show you how I do my business strategy for the entire year almost in the same way.

But that's going to be in the next video to show you here.

We're just going to go over how you should do it for your business and it's all about intelligently

insensitively planning ahead.

So in the first first part of this is that you want to create your year goals.

Let's say you're starting on January 1st where do you want to be in 12 months the end of the year.

You don't have to obviously be starting on January 1st but that's just a good place for our example.

So you maybe if you're running if you're starting a business that's like a long long career or a gardening

business maybe your goal is to have 10 regular clients a month OK.

Or something like that for your child.

Or if you are selling a product on Etsy maybe your goal is to have you know maybe a thousand dollars

in sales within within a year or something reasonable.

Not too much because your child can do this full time.

They have to go to school.

They have to do other after school activities.

So you have to have low achievable goals to start so that you don't create a lot of unnecessary pressure.

And if you over achieve.

That's perfect.

So you have those goals then you have to identify the critical tasks that need to be accomplished to

get to those goals.

Now when you write them down on the piece of paper all those critical tasks product creation if you're

selling a product the outreach if you are promoting gardening things like that and then precisely because

you have a small team and you have a team that's working part time you have to narrow your tasks to

only the critical ones.

This is extremely important and you can do this if he wants to as an exercise your child or at first

neighbor do it on your own and then kind of walk your child through this but make sure that when you

do present this to your child that they have an active role in this and they're just not going like

that.

But they are brainstorming with you back and forth like which tasks you know are you think are important

which are not.

Once you've narrowed down the important tasks you've got to split the tasks between the team members.

It should be obvious how to split it for you because you'll be doing all the boring tasks and your child

will be doing all the creative fun tasks that you know kind of feel like they're moving the business

forward.

And then you create a monthly and weekly to do lists.

Once you have your monthly weekly to do list it becomes very apparent what needs to be done when and

out of that you can plan every week you will plan like let's say on a Sunday night you plan out every

day of the week what to do.

So that way there is no question every day after school or 5:00 p.m. instead of watching cartoons or

TV both of you together you're working on your business side by side.

This is a fantastic benefit of having co-founders is that you guys hold each other accountable.

You don't believe it or not most likely your child with equal will equally hold you accountable as you

will them even if they don't explicitly say that you'll be thinking oh my god like my kid is expecting

that i we're going to work now.

And you know I have to drop my other plans.

So maybe it will be funny that you will both call each other equally accountable but that's a fantastic

part of having a good co-founder is that at the same time you'll be working side by side on your business.

It can be just one hour day it can be more it depends how excited you guys are about this and me and

what other tasks you have to do that day for the rest of your life.

But essentially this is going on Achieve your resource allocation your annual planning and your daily

time management time management is really all.

I mean it's a more complicated topic but the core of time management if you want to sum it up is essentially

to preplan your tasks the day before so that you follow a schedule and you know all this time to this

time I am doing this task and it becomes really apparent and easy it sends sets mental boundaries for

like oh I'm doing this task so I'm doing it.

And if you don't plan ahead eat you.

Your schedule is more random and you are much more likely to allow random other things to creep into

your schedule.

So this is the fundamentals of all these important productivity tasks that your child will learn with

you and will be able to take for the rest of their school.

You know how they approach homework for the for the rest of their education how they approach college

how they approach work how they approach their business in the future.

It's all going to be time management skills goal goal setting skills resource allocation skills these

are all thing skills that are transferable for the rest of your child's life.

And once you have this it'll make it really easy to work on your actual business day to day.

So in the next video let me actually show you what my goal setting and annual planning looks like so

that you see how easy it can really be.