Time is money (or so it goes).
Every minute you spend idle is another fleeting moment you can’t get back.
Your business relies on your ability to make important decisions or hammer out important tasks. If you’re dilly-dallying, taking too long, or working on the wrong thing then you’re wasting not only your time but you’re actually wasting money.
I’ve always found a great motivator in the thought of “is this really worth my time?”
When you calculate the value of your time it begins to reveal a load of wasted actions.
Let’s say, for example, you earn $60 an hour.
- If you stood in line for a cup of coffee, taking 10 minutes, you’ve essentially “spent” $6 and that’s even before you buy the coffee!
- If you sit in on a meeting that goes on for three hours you’ve essentially “spent” $180 but you should also think about the activities you weren’t able to complete while you attended.
- If you attempted to fix an issue on your own, spending 8 hours of your day learning and completing the action, you have “spent” $480 which may have been cheaper to just go to a professional to have it done.
Now imagine if you made $100 an hour. $200 an hour. $300 an hour.
Suddenly those little tasks like reformatting a text document or leaving a blog comment doesn’t seem worth the time and money, right?
Now, of course not every waking moment falls under this idea of “time is money” but when you are at work it’s pretty important that you get into this mindset if you wish to tackle the big goals.
All you really need is a ten second test as affirmation.
Jog this into your memory next time you decide to take action:
“I figuratively make $X an hour. This activity will take about Y time. Is it worth it?”
Trust your gut on this one.
Maybe you could use your income to hire out those tasks to someone else? Maybe you find it is worth your time? Whichever way the decision falls you are developing a mindset that will help you save time, money, and resources, and in business this can make or break your success because there are limits.
Run the test. Examine how you spend your time. Qualify your actions.