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#12: Time is Your Most Precious Resource
Manage episode 497582907 series 3625526
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Time is your most precious resource. You can make more money and you can work harder, but you cannot make more time. We all have 24 hours in a day and we all have a finite amount of days to live (we will die). Make the most of your time, and learn how to leverage effort and money to open up as much time as possible in your life.
Time Is Your Most Precious Resource: Can’t Create More
You have three resources you can pull from: time, money, energy.
You should work hard. This is a must as an entrepreneur. Do the work.
If you are young or poor (and often they go together) you will have to spend more time doing things for yourself.
As you grow older and more experienced, hopefully you have made more money. You need to buy back your time, using money to free up time.
This means paying for others to take care of urgent, non-important tasks, both high skill or low skill. This helps you avoid drowning in urgency.
Time is Your Most Precious Resource: MED for Maximum Impact
You need to consider the likely impact on the business and likely investment of resources. Rate each on a scale of 1-5.
If there are low resource, high impact actions you can take, these are no brainers. Do them. Now.
High resource, low impact actions you should avoid.
The harder choices are the high resource, high impact or low resource, low impact actions.
Where many owners may not think clearly here is with sunken costs. Oftentimes, certain clients suck energy, time, and money out of your business but put little money into the business. Fire these people. Hire more clients like your best clients that take the lowest number of resources.
Time is your most precious resource. Leverage it and other resources intelligently for the maximum impact on your business.
#BusinessGrowth #CoachingTips #ClientSuccess
PS - Coach Smarter, Earn More: https://bit.ly/3X4ixOX Matt's Links Website: https://ryanmattreynolds.com/ Instagram: https://www.instagram.com/reynoldsstrong/?hl=en Chris's Links: LinkedIn: https://www.linkedin.com/in/chrismreynolds/
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