Wednesday, October 24, 2018

The Value of Your Time

As the adage goes, Time Is Money. So then, ask yourself: Am I spending it wisely?

I’ve found that, in some instances, it’s worth the effort to invest your time…

Sometimes I drive to Costco to buy steaks. While it’s further away from home than the supermarket, the quality and price is much better, so it is worth the extra time investment.

I call and sing to people on their birthday. It takes more time than a text or Facebook post, but I think the investment of extra time is worth building and maintaining these relationships.

Other times, it’s best to protect your time…

Let’s face it, as a professional, some work is worth more money than other types of work. If you’re an attorney and you find yourself making copies and filing to reduce costs, you might want to re-think how you’re spending your time.

As a salesperson, you need to spend as much time as possible strategically selling. That means face time, introducing new ideas, finding ways to save your client time and money, and conducting business reviews. It also means avoiding less financially impactful work.

Do the math!

How much money do you want to earn? Figure out the hourly value, and consider outsourcing all work that falls well below this hourly number. That is called PROTECTING your time.

Now, INVEST the time you’re saving and use it wisely. That means more billable hours for the attorney, and strategic selling for the sales professional.

Be mindful of how you choose to spend your time: It’s a valuable asset. 

Which everyday tasks are worth your time investment? Which can you delete or cut back? I’m interested in your feedback.

Good luck,
Bob De Garmo

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