We are all allocated the same amount of time but some people make more of their time than others.
Knowing the value of your time is essential to getting the most out of your business.
When you are in business you must treat TIME as an ASSET like CASH.
You need to look at how you are SPENDING your time and then ensure you are getting the best return you can on the time you are spending ON or IN the business.
Time is money concept. Businessman draw simple image illustrating time is money concept.
You need to list the tasks and things you have to do and put value them.
You can then prioritise the things you have to do based on their value to the business.
This may mean that monitoring your Aged Debtor report on a regular basis could be one of the director’s most important tasks to ensure that cashflow, the life blood of the business, is running in the right direction.
When allocating your time you should also take into consideration the URGENCY of the tasks that need to be achieved. So to avoid a fine that VAT return may need to take priority over that staff meeting.
TIME could be regarded as more valuable than money because time is irreplaceable.
If you fritter away your TIME you will not achieve your goals. Frittering away time is like a gold miner who allows the gold to filter through his sieve.
In today’s world we have many ways of squandering our time. Can you bear the thought of your life like that?
TIME is a form of WEALTH that is given our equally to everyone. It doesn’t matter where you are on the social or economic scale you are, we all have the same amount of time allocated to us. Some people squander this treasure without PROFITING either themselves or society.
Other people understand the value and importance of the Asset they have been given.
I want you to become one of those people who treat TIME as a VALUABLE Asset. Invest your time so you get a good return on your investment.
If you devote each hour to useful work the return you get will be in the achievement of your goals.
For more information about the Hobby to Business course Edward runs or about the workbook which has been designed to put new businesses on the right path please contact Edward Tudor.