Time is money. It’s a saying that has been bandied around so much that it has lost its meaning.
You may know it, you may get it, but do you really comprehend how true it is? Money can come and go, but you can never get your time back.
True in life, as much as in business, every minute you waste is a minute you can never live again. In reality, time priceless. But for the purposes of this blog – and your business – it’s helpful to put a monetary value on it.
Do you really have a handle on how you spend your time at work? If not, it’s time to start valuing your precious time by allocating it wisely. Here’s how.
Time Is Money – Are You Spending Yours Wisely?
Work To Your Skillset
How much is an hour of your time worth?
The answer varies for everybody, but let’s just throw out a figure. Imagine it works out to $100 an hour. Now, imagine that one or two hours of your day are spent doing tasks that could be completed by someone who earns $60 an hour – or even taken care of by way of automation?
It seems like a no-brainer, but so many business owners get caught up in the day to day stuff that they forget to delegate, outsource or automate. The skilled professionals in your team should focus on doing the things they are trained to do. The things that generate leads and increase profits. Finding alternative methods of streamlining other tasks allows that to happen.
Manage Your Time Effectively
Focus on finding ways to maximise your efficiency. If you feel more inspired, motivated, and productive early in the morning, make sure you set aside that time for your most important work. Create a schedule that suits you and allow your team to do the same.
Quit trying to multitask. It’s proven to be less effective than single-tasking. Instead, group similar tasks together and work on finding that magical “flow” where you are in the zone and everything feels natural. To achieve this, reduce distractions, set a time to focus, turn off your phone notifications, and set a timer.
But don’t forget to have regular breaks. Downtime is vital to keep your mind fresh!
Streamline Your Meetings
Before setting a meeting and inviting employees, ask yourself what the objectives are, and if they can be achieved via an email or messenger chat instead. Often, you will find they can.
If you must have a meeting, set a clear timeline, outline the goals, and only invite those people who are essential. Also, try to have the meeting via video call so that you remove the need for any commuting or travel.
Automate
From bookkeeping and payroll to email marketing to contracts and lead identification, there are ways to automate almost every aspect of your business. This frees up some of that precious time, so you can invest it in growing your business, keeping your clients happy, and fostering a positive workplace culture.
If you aren’t sure where to start on automating your business, make a list of the repetitive tasks that take you the most time to complete. Then, armed with your list, have a chat with a systems expert (like the team here at Admin Army) for their input on streamlining your business.
Outsource
Automation is fantastic, but some tasks require the adaptability and creativity of a human. Not many businesses have a team of marketers, accountants, designers, or lawyers in-house. Outsourcing the roles that fall outside of your wheelhouse means you still have access to the expertise you need without stretching your resources too far.
Using the experts means that the job gets done right and you only have to pay for the time they spend working on your business.
Learn To Say No
Sometimes, requests and enquiries will come through that you know will take FOREVER to complete. If it isn’t something that aligns with your current focus, then it is perfectly fine to say no.
Have a list of businesses you can refer people to if they come to you with a request that you can’t (or don’t want to) service. That way, you can give the person a helpful contact, but avoid the need to take on a time-consuming task.
Running a successful business is all about working smarter, not harder. Rather than running yourself ragged trying to spend your valuable time on too many things, buy yourself more time by investing in the help you need.
And that help is right here at Admin Army. Time is money, so get in touch with us today to find out how you can spend your time wisely.