What is Your Time Worth?
Do you ever find yourself sitting idly glaring at Facebook looking up old friends or watching reality TV. Time is just slipping through your fingers. Reflecting on my days in high school or even in college, I thought my time was infinite and I had a tendency to procasinate. I had a saying, “don’t do today what you can do tomorrow.” Sadly, as the time goes by, we can never get it back.
As small business owners often wear many hats and juggling multiple tasks, time naturally turns into a very precious commodity. I had the opportunity to attend a marvelous time management program conducted yesterday by my friend, Bob Liebhauser, ActionCoach. There were some marvelous take-aways. So, I will share some of these with you today.
If you want to know how you truly spend your time, try keeping a log of your daily activities over a period of time such as two weeks. It will probably be very enlightening.
Analyze what you do and determine whether your tasks are urgent and important. Things that are not urgent and not important are distractions. Things that are urgent and not important are delusions (therefore only your mind things they’re important). So, do make lists and rank what is important and urgent. Spend time on the important stuff.
What is your time worth in dollars and cents? Is it $50 per hour? Or, $100 per hour? Or, $250 per hour? On that basis should you be spending your time maintaining the books or making copies? Probably not.
Create a default activity schedule. This schedule should serve as your routine agenda only to be superceded by an urgent need.
Time management is all about managing yourself. Isn’t it?