My working day can be split into two types of activity; input and output.
Input relates to all types of training and knowledge consumption. Output relates to content creation for me as my business is is creating and selling information products, for you it is any activity that involves the creation or sale of goods.
Most business owners become so absorbed by output tasks that they rarely have time for input.
What happens when you don’t make time for input?
* You fail to see the wood for the trees, you’re so immersed in the functions of your business you can’t see the bigger picture
* You fail to innovative. The future success of all businesses relies on developing new products, new ways to make money and create value for the consumer. Lack of input = a lack of new ideas.
* You become so output focused you lose a sense of balance. Yes, I’m talking about those business owners that work crazy 16 hr days constantly. That’s not a business, that’s a life sentence.
It may surprise or even shock you that I spend around 50% of my time on input. Of course my percentage will be a little higher than the average as my business is in creating information products therefore my raw material is knowledge.
Following the rule of 80/20 I’d argue that if you aren’t spending at least 20% of your time on input then you’re under doing it.
What is classed as an input?
My definition of an input is anything that adds to my knowledge or expertise.
My current list of inputs include;
* Books
* University lectures and tutorials
* eBooks
* Online videos
* Podcasts
* Blogs in my business niche
* Business calls with Antonia
* Networking events
* Interviewing experts (can double as output!)
So come on, how much time are you spending on input?