Time Spent Vs Time Invested in Your Business!

I have just done a very interesting exercise which I would urge all of you to do now, today! I have been tracking my hours spent working in and on my business compared to just how many hours I receive payment for. Do you know how many hours you work related to how many hours you receive some form of payment for? If not then start tracking your hours on a spreadsheet for everything you do now and keep doing it.

When you start to track the time you spend on your business and how it effects your bottom line most people soon learn very effective and efficient time management skills and mange to start billing more hours or actually investing the time they spent on their business more wisely.  I was shocked to see that the hours I bill can vary as much as double each week depending upon my timetable, committments and projects in hand. That can make a huge difference to the old bank balance each month and can be the difference between a good month and a not so good month.

I honestly thought my time mangement with my hours billed/worked and my life/me time where pretty balanced, but think again girl and wake up to the sound of the scales dropping to one side or the other! Time invested in or on a business is time well spent as it is creating or developing income or future income that can be duplicated, but simple time wasting on activities that could be delegated or are not completely necessary is simply time lost forever.

So I would urge you to consider your to do list and honestly assess where do the activities on that list lay. Will you either be able to bill them or will they provide duplicatable income in the future of some sort? Yes I understand we all have some tasks that cant be ignored however we also all have tasks that serve little or no purpose other than filling our day.

So either get a pen and paper or open a spreadsheet and start tracking your time now today and see the results in your business 🙂

This entry was posted in Delegation, Finance, Goals and Aims, Technology, Time Management and tagged , , , , , , , , , , . Bookmark the permalink.

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