That seems a bit harsh. But it is true.
“Time is the most valuable thing that one can spend.” Theophrastus
Do you value your time, or do you give it away for free? Be it at work, home or in between. And if you are giving it all away, how can you expect to have any left?
By being mindful of the value of our time, we can make better choices in how we spend that time. We can make sure we are spending it is ways that achieve those things that are important to us. In other words, we use our time more effectively if we value it.
IN BUSINESS
When running your own business, you can get into a position where there is never enough time to get everything done. You are running around doing everything. The marketing, the books, emails and hopefully making some sales in between.
The belief that you can’t afford to find someone to help with some of these tasks can often be the cause. So many times I have heard people who have made the decision to get some help say that it was the best thing they ever did. It allowed them to spend their time on the areas that created value for them, and delegate those tasks that didn’t. Now they have more time, and are making more money.
AT WORK
When you have employees in a business, you should value their time too. A common misconception is that if you have employees, their time isn’t of value. Like when people say “I’ll get my guys to do it because it won’t cost anything”.
Unless they are working for free, there is a cost.
Plus your employees should also value their own time. For exactly the same reasons you value yours.
IN YOUR TIME
Though we don’t get paid when we aren’t working, we should still place value on the time. What value do you place on time with your partner, kids, parents, friends? Or just hanging out, or doing a hobby, or learning something new?
For me an extra hour a week quality time with my kids is worth more than the cost of someone mowing the lawn. So, I pay someone to mow the lawn.
The answers are different for everybody; and there is no right or wrong. The important part is that we ask ourselves how valuable is our time. And where do you want to spend it.
NEED HELP ?
Justin Hogg is an Accountant that lifts fiscal performance for Businesses, Founders and Entrepreneurs. He is there to help get things done.
To arrange an initial, complimentary discussion, email justin.hogg@rightsource.com.au or call 0414 896 696.