I have something for you today that really is just common sense yet is often looked over, but before I go into it let me give you a bit of background.
If you asked me what people ask me for help on the most it would easily be Time Management.
Which is an oxymoron because no-one can really manage time.
We can only manage.
1. Our own energy,
2. How we react to stimuli and
3. What we choose to spend our time doing.
Now of all those 3 things the one that in my most recent experience has made the most difference for me is the last one.
What we choose to spend our time doing
Put simply, I have doubled my income and my spare time through eliminating the stuff I was doing which doesn’t generate income.
Recently I have reduced the list of things that I work on down to 2 core things in my business and my income and my spare time doubled. I mean go figure.
We spend our time tearing around doing all these things during working hours that don’t add one cent of value to our business and then complain there are simply not enough hours in the day.
One of the best ways to narrow your list is to get someone who is better than you at something to do it instead of you.
And before you say “I can’t afford to do that”, do this simple 7 step exercise with me.
1. Draw a column down the middle of a sheet of blank paper (or on your ipad for you hard core techies).
2. List the tasks you do that make money on the left side of the column and the tasks that don’t make money on the right side.
3. Work out what you’ll earn this year.
4. Work out your monthly gross earnings down to your hourly gross per hour earnings.
5. Now take the most time consuming thing from the right hand column and work out what you could pay someone else to do that thing faster and better than you.
6. Now add up the number of hours you spend on that thing per month and times it by your average earnings per hour to get your total.
7. Now subtract that monthly figure from the same figure you could pay someone else to do that same job for better, faster and with less mistakes.
Now times the difference by 12 to get a yearly amount and THAT is what you are currently ripping yourself off per year by spending your time doing JUST ONE of the things on your “doesn’t make money” task list.
Of course there is a great case for simply eliminating the time you spend on things on the “doesn’t make me money list” altogether.
Unless they’re crucial things like tax or bookkeeping filing etc. And the result will be more income (naturally) and time than you ever imagined possible for yourself and your family and to work on growing your business.
Hope this helps!
Please leave a comment below I would love your feedback.