Time is the only aspect of our lives where we are all truly equal.
As psychologist Dr. Denis Waitley once said about time, “Each human being has exactly the same number of hours and minutes every day. Rich people can’t buy more hours. Scientists can’t invent more hours.”
Time is a resource, but unlike other resources, you can’t buy it, rent it, borrow it, lend it, store it, save it, renew it or multiply it. You can only spend it. How you spend your time is a reflection of your true values.
How Do You Spend Your Time?
Your results in life, business and relationships are a reflection of how you spend your time.
If you saw someone walking down the street and they looked fit and muscular, then you know right away that they must spend some time at the gym, and the fact that they choose to spend their time at the gym, indicates that health and fitness are high on their list of values. They have chosen to allocate time to one of the most important items on their list. And the results show!
When it comes to your job or business, your results will be equally evident. For example, lets say you’re now running your business from home and have to deal with the following items on your list today:
- Housekeeping: do the beds, dishes, laundry and clean the bathrooms
- Do a private coaching call with one of your clients
- Buy groceries and cook dinner for your family
- Fix a spelling error and date on a banner ad on your website
- Promote an upcoming event that could bring in lots of sales
- Enter your expenses into your accounting software
- Get a hair cut because you have a photo-shoot early the next day for your marketing material
Looking at that list, it’s easy to see that some items can be delegated and outsourced, but others you have to deal with yourself. No one can get a haircut or exercise on your behalf, but you can easily hire a housekeeper for a few hours a week to deal with your housekeeping needs, groceries and even cooking.
You can hire a contractor to fill in your expense sheets and update the banner on your website, but you cannot outsource your coaching call with your client. They paid to be mentored by you.
This leaves us with item #6, which is “Promote an upcoming event that could bring in lots of sales.”
This is a very strategic item that could have a huge impact on your income in the coming months. Plus as it’s a live event; it’s time sensitive so you need to deal with it now and ensure it’s done right. Unlike the one-on-one coaching call, promoting this event could generate hundreds of sales that can bring in long-term passive and residual income into your business.
Most new entrepreneurs and business owners will get overwhelmed when they see the list and revert to dealing with the items they’re most comfortable with like the coaching call (services), housekeeping, exercise, getting a hair cut and updating the web banner. The one item that requires more strategic implementation and advertising costs gets pushed over to the next day, then the next day and so on, when all along this is perhaps the most effective use of their time on that day.
Overcoming The Time Trap
I fell under the same trap when I started. I was doing everything myself, and let me tell you… it’s draining. When faced with critical implementation decisions, I would find any excuse to work on other tasks and projects.
In fact, recently I caught myself doing the same thing.
The tax declaration deadline was fast approaching and I was still behind on logging in all my income and expenses to pass on to my accountant. I dedicated a full day to go over my emails, bank accounts, and PayPal accounts to ensure that all income and expenses were accounted for and the balance sheet added up.
Accounting is not one of my favorite tasks. Instead of working on my taxes, I started spring-cleaning my closets and washing the curtains in my living room. Suddenly I started to notice how the carpet needed cleaning and brought out my professional carpet-cleaning machine that I had not used in years and started shampooing my carpets. Before I knew it, the day was gone.
Looking back, I now realize I was doing all this extra cleaning because I wanted to avoid the boring task of reviewing my balance sheet. But the most effective use of my time would have been to outsource the cleaning and balance sheets, and focus on the more strategic business development items on my list, like completing my book and adding more content to my membership site—items that will pay me for years to come and ensure I have more than enough to hire help and outsource tasks rather than be stuck at my desk for hours on end.
As you start mapping out and implementing your career and business path, ask yourself each day, is this the most effective use of my time right now? What projects and tasks are more likely to deliver long-term results? Then focus your time to get those tasks done first.
The items above are essential if you choose to follow the business path but can also be used if you opt to start your journey with employment or freelancing.
Let leverage work in your favor.
This article was take from Pajama Paydays | How To Make The Internet Work For You.