If you’re spinning around in circles unsure of the best task for you to complete first or next, this episode is for you.
In part two of my “What Task to Work On” series I share how to use the value-ease matrix, a simple prioritisation method that quickly helps you to see where to prioritise your efforts in order to add the most value to your business.
odcast: Play In New Window
In part 1 of the “What Task to Work On” series I introduced you to value-added, value-enabling and non-value added tasks in the hope that understanding the difference between the three would help you to choose where to work on what particular day in your conscious business.
Today I’m going to take it one step further and give you a tool that I use to help prioritise which value-enabling task to do first in my business. But first, a refresher in value-enabling tasks.
What Is a Value-Enabling Task?
Value-enabling tasks are those deemed necessary for your product or service to be delivered but are not directly valuable for the customer.
In contrast to value-enabling tasks, value-adding tasks are those that customers would be willing to pay for, and non-value added tasks add no value whatsoever to the customer.
Some examples of value-enabling tasks include:
- Packing an online order of goods
- Unpacking wholesale stock and receipting it into your business inventory system
- Writing and filming your online course
- Strategy call / sales call with a business coaching lead
- Setting up sales funnels for online education products
- Setting up and monitoring performance of Facebook Ads
- Recording and transcribing podcasts
- Writing and publishing blog posts
- Building a social media following
Like the endless ideas in my head, the list of value-enabling tasks in my business is never-ending. I find if I don’t have a clear understanding of the impact each task has on my business, it’s almost impossible to decide the order in which to undertake the tasks.
That’s where the Value-Ease Matrix comes in…..
What Is the Value-Ease Matrix?
The Value-Ease Matrix is a Lean SixSigma tool that helps teams within organisations to easily prioritise which tasks or actions to progress. It’s my go-to tool whenever I’m struggling to prioritise my workload.
You can either use the Value-Ease Matrix to rank and prioritise your list of open tasks or you can use it to help you to order actions following very specific brainstorms. For example, after brainstorming individual ways to increase profits in your business you could graph the different ideas on the value-ease matrix to produce a targeted action plan.
How to Use the Value-Ease Matrix In Your Business
To use the value-ease matrix, simply plot your tasks / actions on a 2D matrix with Value/Impact on the Y-axis (from low to high) and Ease / Time on the X-axis (from hard/slow to easy/quick).
Any tasks that fall in the Easy/Quick and High Value quadrant are your quick wins and are actions you should focus on immediately.
Tasks that fall in the Hard/Slow and High Value quadrant are tasks still worth completing over time as they have the potential to add significant value to your business.
Any tasks that fall in the Hard/Slow and Low Impact quadrant are simply not worth the effort.
The value-ease matrix is a simple tool that allows you to quickly and easily prioritise value-enabling tasks in your business. Use it for general tasks, or to prioritise actions from a focussed brainstorm and watch your focus and conscious business grow as a result.
Over To You!
Give the value-ease matrix a run for yourself!
On a piece of paper, brainstorm actions you can take right now to either increase profits or reduce costs in your business. Plot each idea on a value-ease matrix to help you prioritise which task to action first.
Share below how you get on!
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