We entrepreneurs want to do everything personally. This often includes menial tasks that can cost us money. Sure, we get the satisfaction of doing it ourselves, but that satisfaction comes at the cost of profit. Broken faucet? We're on the job! But the time spent fixing that plumbing is time we didn't spend on the business, and that lost time could have earned us far more than what we saved by doing the job ourselves.
Making money is rarely about saving it. It's largely about getting more out of every second of every day. When people talk about the richest people in the world, they don't just talk about their net worth. Instead, they talk about how much money they make per second or per hour. That's because deep down, we all know that life is a marathon, not a sprint. It's about making proper use of our time so we make more money per hour.
So how can we accomplish more in less time? Here are five ideas to get you started.
1. Focus on the Jobs That Make the Most Money
There are plenty of things an entrepreneur has to get done, and not all of them are business-related. Marketing, house cleaning, link building, and customer service are just some examples. Which of these isn't like the others? Which one won't make you money? If you answered house cleaning, you're right. Time is money, and if you spend your time on the little things, you'll end up sacrificing the big things -- the jobs that can pay for your food, rent, and car.
Time management isn't just about finding time to do everything. It's about prioritizing and finding the time to do the right things.
2. Relax
Many of us wrongly associate relaxation with lethargy or laziness. Nothing could be further from the truth. While most people would find it unthinkable to relax when they have a business to run, that's not true for those who make hundreds of dollars per hour.
Relaxation allows a person to create space between their work and themselves. It gives them the time to rest, and with that time the ability to see the forest for the trees. Bury your nose in your work, and you'll start to lose perspective. Time off helps to maintain that edge.
Taking some time to relax also lets you recharge. Most entrepreneurs handle multiple aspects of the business every day -- juggling numbers, thoughts, ideas, and who knows what else. Even in short bursts, such activity can be extremely tiring and can rob a person of their energy in record time. An entrepreneur low on energy is more likely to miss out on an important detail or two, and that can spell disaster down the road.
3. Get a Personal Assistant
A personal assistant is there to make life easier for you and to sort out the little things, which is great since it lets you focus on the big issues instead. For as little as eight dollars per hour, you can hire someone who will perform basic tasks, such as making sure your bills get paid on time or doing your grocery shopping for you. If you develop a good relationship with your assistant and they prove trustworthy, you could even end up using them to sort through your email, so only important messages get your attention.
Depending on your situation, you might not even need your assistant to be in the same country. Virtual assistants can work well as researchers and email handlers from anywhere in the world.
4. Find Out When You Do Your Best Work, and Work Then
Each person has a different rhythm. Stephen King works in the morning and until noon. So did Henry Miller, who would work from morning till afternoon, spending evenings with friends. They understood they had a rhythm. Instead of fighting it, they embraced it fully.
You should do the same. Figure out when you do your best work. Make a chart if it helps. Once you figure out when the best ideas come and when you feel in the zone, work out your schedule so it coincides with your ideal work time.
5. Get a Maid
A clean workspace is a usable workspace. It's relatively easy to find people who can clean your house, wash your dishes, and cook. Those chores take time you could be spending on marketing a new product. Focus on making enough to afford to pay someone to clean your floors, while you ensure your financial independence and future.
When it's all said and done, it really boils down to this: You need to figure out which aspects of your life make the most money and which ones can be delegated. If it isn't worth your time, don't do it. It's as simple as that.
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