*This is part 3 of our 4-part series.
🔍 Finding low-hanging fruit and quick wins
⚙️ Resources to keep your automations running smooth
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Automating a small task is the best way to overcome any friction you might feel if you’re new to automation
✏️ Exercise - Identify Potential Tasks to Automate
If you've completed the exercise from email #1 of this series, you should have a list of potential tasks you could automate. (Duplicate the cheat sheet)
⏲️ If not, try this:
1. Set a timer for 5 minutes and write down whatever tedious tasks come to mind.
2. Go to Zapier or Make and search for the software necessary to complete one of the tasks you came up with, and use this spreadsheet to note the Triggers and Actions available for the apps.
🗒️ Use this Scribe if you need a walkthrough
A return on investment (ROI) measures the effectiveness of an investment—or in our case, automation(s) you've implemented in your business. It helps you understand what tasks and workflows should be automated and how to prioritize them.
Learning the two types of ROI in automation is important because it can help you determine which tasks are worth automating and which aren't.
You're likely familiar with Hard ROI since it's easier to quantify:
Plus, many more. Although the benefits of Soft ROI are harder (and take longer) to notice, they are equally valuable.
Here is the basic formula for calculating Hard ROI:
Time (spent on one task) x Frequency (of performing tasks per month) x Cost (per hour) x 12 Months = Yearly ROI
Suppose the automation only reduces the time required for each task or requires some human oversight. In that case, the ROI will be lower than calculated using this formula.
You should still have a good idea if a task is worth automating.
I'll share a resource to help you account for all expenses.
Here we have five tasks, with Christine's "Swipe File" being one of them. You'll notice the ROI from that single task is already $2,400 if we use an hourly rate of $100.
Of course, we have to consider the costs of your automation software. And I'm working on a post to include questions you may have about pricing as well.
Soft ROI is a bit tougher, but you should still assign it a monetary value to get a more accurate picture of your ROI.
Download this spreadsheet to help you calculate Soft ROI.
Choosing the Right Automation Tool
Stay tuned because next week, I’m reviewing the different automation tools available and helping you determine which one is right for you.
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