Time is Money
I know time is money is a cliche phrase but it’s true. You either spend time doing something or you spend money. In your business, you’re more than likely the head of ALL the departments. That responsibility takes a great deal of time from you...time that could be spent in other areas. When you hire, for example, you essentially are buying back your time.
I believe it is critical to be keenly aware of how you allocate your time in your business. By not paying attention to this one area, you can dramatically reduce your chances of success. Time is the ONLY thing we can never get back. Once it’s gone, it’s gone.
Here are some of my top tips and strategies to become better at managing your time:
Time your energy: This is something that I have personally been working towards mastering. As life has changed post-Covid, I had to break the cycle of adhering to a traditional 9-5 (in my case 7-4) work schedule. I’m sure you experienced something similar. I didn’t have to commute. No more rushing from meeting to meeting with only being able to grab a quick sandwich. I had more control of my time. In addition to working FT, I also had my coaching business on the side which really started to pick up. Sis, I was all over the place. I quickly recognized that I needed to change how I run my day. I started paying attention to my energy and created a new schedule.
From about 7 am - 9 am, I have a mindful morning. I’ve commuted to work since I was 18. I always desired to ease into my day and that’s exactly what I do. I make my coffee, do my daily office, meditate, watch a sermon, sit in solitude, talk to the people I love, and whatever else brings me joy. I try to not get on social media until 9. Doesn’t ALWAYS happen, but most workdays, I don’t.
-From about 9 am - 12 pm, I run meetings.
-12 pm - 1 pm, I take lunch
-1 pm - 2 pm, work
-2 pm - 4 pm, I relax and nap most of the time. I literally have 0 energy during these hours. Like ya girl is done.
-Around 5 pm, I am prepping for evening coaching.
-6 pm - 8 pm, I coach
-9 pm - 10:30 pm, I chill
-10:30 until about 1 am, I work, work, work, work (I am currently writing this somewhere between these hours)
Your schedule won’t match mine. I am sure your lifestyle and obligations are different but the point is, I started to track my energy and adjusted so I can maximize my productivity.
2. Track your time: Listen, I’ve challenged my clients to track their time and none of them have been excited about it. The excuse is that entrepreneurs can’t track their time because we’re too busy. That’s exactly my point. How can you figure out what to take off your plate if you’re not keeping up with the areas you need help in?
So I nix that excuse with the quickness and respond with, “there’s an app for that.” I LOVE this app. If you have an iPhone, you can download it for free. It’s called Now Then. Basically what you do is go in and create your most common task for your business that you handle. When you get ready to do that task, you simply hit it and it starts recording your time. The THEN tab then starts to keep up with how much time you do a specific task. So boom, now you have a list of your top tasks that need to be completed in the business and the amount of time it takes YOU to do it. Now when you’re ready to outsource (to buy back your time), you have a clearer picture of who to hire, what tasks they need to complete, and how long it will take them to do it once you train them.
3. Maximize your time: I am a productivity junky. If you notice in my schedule, I try to time block my day. I’ve found doing the same type of work at one time helps me to be more productive. The other tip is using the Pomodoro method. Sis, please understand this is a gamechanger for you if you are a procrastinator. The first hurdle is to simply start. The method has a timer set for you to work in 25 min. increments. Before I started this working on this week’s lesson, I knocked out 2 hours of studying that I'd been putting off all day by simply turning on one of the Pomodoro method videos on YouTube. I got it done. Use this method. Trust me.
Sis, just imagine how things will be in 6 months’ time once you get laser-focused on how to spend your time. How much more could you get done? How much further will the business be? How many more clients can you serve? How much more money can you make?
Commit to making maximum use of your time this week.
