Are you time rich or time poor? The answer to this will reflect the balance in your bank account!

Most of us have heard the expression “don’t be penny wise and pound foolish”. I have always translated that to mean that one must be careful not to be looking to spend a small amount only to lose a big opportunity. If you are not planning to make an investment then you are simply spending money with little expectation of gain.

What we must all understand is that our business results will mirror how we live our lives. The result of this will reflect in our bank accounts, our personal relationships and our health. The technology age that we live in has escalated the pace in which we receive information and exponentially increased the amount of information that is available to us. Many of you are so plugged in to this technology that you have actually unplugged from the world around you.

Slow down a second and think for a minute how you spend your time. Are you consciously investing your time each day or is it being spent on things that simply do not benefit you? The first step to increasing business profits, growing a great team or creating consistent results is for you to understand that you must manage YOUR time First. Many business owners struggle to pay themselves the salary they want (I can help you with that!). There simply is not enough money left over each month. In most every case there is a direct correlation with that same business owner not having enough time. Think about it, if you are so busy that you can’t think straight, then you won’t! Stop the insanity! Here’s how:

  1. First and foremost, decide that you are no longer going to allow others to be in control of your time. Make a commitment that you will constantly evaluate how you are using your time. It should always be an investment of time and not an expense.
  2. Pay yourself in time first. That means that you should schedule those tasks you must complete in your calendar first. Block these tasks out specifically with time and days of the week so you know when you are going to accomplish them. Once you have scheduled yourself, you will then be able to schedule everyone else around your schedule.
  3. Get rid of the clutter and systematize your tasks. If you have paperwork all over your desk or office then you will waste countless hours each week touching the same pieces of paper over and over again. Combine tasks so that you perform them once weekly instead of daily. Create a filing system that prevents you from having to waste time constantly “getting organized.”
  4. Plan tomorrow at the end of each day. If you want to gain 20-30% more time each week then take 15 minutes at the end of your day to plan tomorrow. You will sleep better knowing exactly what you need to do and when you sit at your desk you have a written plan to follow. This simple practice yield huge results!

It is incredibly difficult to run a profitable business when you are time poor. Instead of being able to plan and direct your business/team you are too busy working in your business. Invest your time wisely so you are not exhausted and broke!

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