4 Tips for Time & Budget Management from a Business Development Strategist
All successful CEOs have one thing in common: They’re able to maintain a big-picture perspective. It’s also something successful women have in common, says Zenovia Andrews, a business strategist, speaker, author and mother who coaches entrepreneurs and CEOs on time and budget management.
“In business, CEOs implement a process that achieves efficient time and resource management in the most cost-effective way; sounds a lot like a mom, doesn’t it?” says Andrews, founder and CEO of The MaxOut Group, a company devoted to empowering and teaching entrepreneurs development strategies to increase profits.
“If every mom were a CEO, America would rule the world!”
Andrews, author of the new book “All Systems Go – A Solid Blueprint to Build Business and Maximize Cash Flow,” (www.zenoviaandrews.com), suggests the following tips for moms to better manage money and time.
• CEOs utilize apps, and so should CEO Moms. When a CEO’s personal assistant isn’t around or, if it’s a small business and she doesn’t have one, then apps do nicely. There are several apps for moms, including Bank of Mom – an easy way to keep track of your kids’ allowances. Set up an account for each child and track any money they earn for chores or allowance. The app also allows you to track their computer and TV time as well as other activities.
• Measurement is the key to knowledge, control and improvement. CEOs have goals for their businesses and Moms have goals for their family members. In either case, the best way to achieve a big-picture goal is to identify action steps and objectives and a system for measuring progress. Want to improve your kids’ test scores, help your husband lose weight or – gasp – free some time for yourself? There are four phases to help track progress: planning, or establishing goals; collection, or conducting research on your current process; analysis – comparing information from existing processes with the new one; and adapting, or implementing the new process.
Most people are happiest when they feel they’re learning and growing
• Understand your home’s “workforce.” A good CEO helps her employees grow and develop, not only for the company’s benefit, but for the employee’s as well. Most people are happiest when they feel they’re learning and growing, working toward a goal, which may be promotion within the company or something beyond it. When they feel the CEO is helping with that, they’re happier, more productive, more loyal employees. Likewise, CEO Moms need to help their children gain the skills and knowledge they need not only to succeed in general but to achieve their individual dreams.
• A well-running household is a community effort; consider “automated” systems. In business, automated systems tend to be as clinical as they sound, typically involving technology. Yet, there’s also a human resource element. Automated systems are a must for CEO Moms, and they tend to take the form of scheduling at home. Whose night is it for the dishes, or trash? One child may be helpful in the kitchen, whereas another may be better at cleaning the pool.