Unlocking productivity: the £10-£100-£1000 task method for success

As marketing professionals in the 21st century, we find ourselves both blessed and challenged by the myriad of automation tools, productivity software, modern trends, and constantly evolving algorithms. These innovations can significantly boost our efficiency, enabling us to automate email campaigns, schedule social media posts, and analyse customer data with unprecedented precision. 

However, they also require continuous attention and adaptation, pulling us in many directions. This duality often leads us to focus more on keeping up with the latest tools and trends than achieving our primary goals.

The Challenge

We juggle numerous tasks daily—analysing data to understand customer behaviour, crafting engaging social media content to build brand presence, writing website articles to boost SEO, and managing email marketing campaigns. These essential activities, while crucial, can sometimes distract us from our main objectives. For example, producing trendy video content, such as short-form videos for platforms like TikTok, has become vital even for traditionally conservative industries like law and accounting. Firms now use these platforms to connect with clients more personally and engagingly. 

But amidst this hustle, how do we manage our workload while staying focused on our core goals?

The £10-£100-£1000 Task Principle 

During an entrepreneur seminar, I learned a valuable concept from Nick James, founder of Expert Empires: the £10-£100-£1000 task principle. Inspired by this idea, I developed my own approach to managing tasks by categorising them based on their value and impact.

  1. £10 Tasks These tasks are time-consuming but not necessarily lucrative. When delegating £10 tasks, it is crucial to ensure the person can complete them without errors. This requires preparing a knowledge base, detailed descriptions, and examples. Examples include administrative work, basic email responses, and routine social media updates. For instance, I used to handle account processing and invoice management myself, but now my assistant manages these tasks, freeing up my time for more critical activities.
  2. £100 Tasks These tasks are important for the smooth running of the business and can be managed by someone else. For £100 tasks, I choose to work with more qualified individuals who bring expertise and innovative ideas. For example, I help clients create websites and have trained an employee to use the same technology and processes I follow. This allows them to use their creativity while maintaining consistency and quality, with me only performing quality control on the final product.
  3. £1000 Tasks These high-value tasks require your unique skills, insights, and decision-making abilities. For instance, I personally handle money-making tasks such as talking to clients or preparing product descriptions. Instead of delegating these tasks, I seek advice from experienced individuals to improve my performance.

Implementing the Principle When starting a business, you handle everything yourself. However, as your business grows, it’s crucial to start outsourcing. Here’s how to implement the £10-£100-£1000 task principle effectively:

  1. Identify and Categorise Tasks: List all your tasks and categorise them into £10, £100, and £1000 tasks to understand where your time is going.
  2. Delegate: Hire help for the £10 and £100 tasks. This might mean employing an assistant, outsourcing to freelancers, or using automation tools. Delegating account processing and website creation, for example, has significantly improved efficiency in my business.
  3. Focus on High-Value Tasks: Dedicate your time to the £1000 tasks that drive your business forward and require your expertise. Effective planning is essential to focus on high-value tasks consistently.
  4. Review and Adjust: Regularly review your task list and adjust as needed. I organize and review my tasks weekly and hold meetings with my team to discuss their progress and any support they need from me.

Challenges and Solutions in Delegation 

One of the biggest challenges in delegating tasks is preparing the necessary documentation and ensuring quality control. It’s essential to allocate time for training and be patient with the process. Regular follow-up is necessary to prevent errors and ensure understanding. Delegating saves time but doesn’t eliminate the workload completely—you’ll still handle the final touches, approvals, and quality control.

Strategies for Focusing on High-Value Tasks 

Continuous planning is crucial to focusing on high-value tasks. Clear communication within your team ensures everyone understands their responsibilities, allowing you to concentrate on bigger projects. Allocate significant time for these tasks, as they often take longer than anticipated.

Adjusting Your Task List for Efficiency

I review and adjust my task lists weekly, holding meetings with my team to discuss their tasks and any assistance they need. Using tools like Trello helps in allocating tasks and tracking progress, introducing checklists, accountability, and deadlines.

Personal Life Application 

This principle isn’t limited to business tasks. It applies to personal life as well. For instance, while I delegate administrative tasks, I prioritize personal commitments like spending quality time with family. This balance is crucial for overall productivity and well-being. As Nick James highlights, tasks like spending time with your kids might seem small but are invaluable in the long run.

By categorising tasks into £10, £100, and £1000 categories, you can streamline your workflow, delegate appropriately, and focus on driving your business towards its goals. This approach enhances your productivity and leads your team to greater success. As Nick James advises, use your time effectively, balancing revenue-generating activities with meaningful personal engagements for sustainable growth and personal fulfilment.

Integrate these insights and strategies to manage your productivity better and lead your team to greater achievements.

About the author: Larysa Hale
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