Time management seems to be one of the challenges many of you struggle with the most. You have a successful business that you love, and you want to be there all the time, but what about everything else? How do you keep everyone happy, including yourself?
Everyone always says – “Keep balance in your life.” What does that mean? This is so hard to do when you are passionate about your business and want to spend as much time as you can working on it or in it. The key is to realize that taking time away from your business will improve your business. You can’t be “in” it 24/7 and be the best that you can be. Everyone has the same number of hours every week, how do you use those hours?
What I have found is that when it comes to balance, it is easier for me if every day or every week is not balanced, but over the year I am “in balance”. In this way I might launch a new marketing campaign at the gym with a special, know that we will have a busy week, plan to be there from morning ‘til night every day, and not feel guilty about it.
So I am out of balance this particular week – that’s okay, because the following week Alwyn and I will plan to have a weekend away or I’ll plan to leave work early every day putting me back “in balance.” I have found this all or nothing approach works well for me as long as I make sure to balance things out over the year.
This idea of “Blast or Dust” is also something Elite FTS business owner Dave Tate has said, in the past, which works for him too. I think for many successful business owners being in “balance” all the time is not the way to go. Getting out of balance and getting extremely focused, dedicated, and obsessed moving in a direction is how you make things happen and “Blast” for a period of time. Set aside time for each of the following throughout your week or month. Having a business can become very consuming, but you cannot let it take over your life. You will be more successful as a business person if you take time for each of the areas I’ll be sharing with you over the next three weeks. If you work all the time, you will never enjoy the things you work for.
1. Making Money Time (Working IN Your Business) – This is what we call working IN the business and probably makes up the majority of your time right now. This is the time you spend where you have a direct exchange of money for your efforts or time. You train a group of clients and make $40per client, so if you have six clients that hour, you spent that hour making $240. Or you took an hour to sit down and write an article that a magazine is paying you $300 to write, so you made $300 that hour. This is your business; your career; your passion; this is what you do. You work with clients, work on articles, speak in front of audiences…anything that directly produces income for your business for the work that you do. A large part of your job is to produce!
The important part of the hours you spend doing this stuff is that you think through what your hourly rate is and what you need to make per hour to make it worth your time to commit to this. If you decide that your time is worth $100 an hour, which as a business owner it should be, and if you find yourself doing something that is making your company $20 an hour, you should think through whether or not you could delegate that task to someone else or simply say no. It’s okay to learn to say no. You only have so much time. Pretty much anything that you could pay someone $10-50 an hour to do, you should hand over immediately, freeing you up to spend time working on your business. This time is where you are focused on the task at hand, which will directly lead to more income. This is also the work that you are probably most passionate about and what got you into the industry in the first place. I think it is important to keep this as part of your schedule, but it should not be the majority to be able to run a successful business. Allotted Time: 20 hours a week maximum
Join me next week for areas two and three!