Stop Wasting Time Start Making Money

Written by Peter Tran

June 15, 2017

Wht is business’s most vluble resource?  Is it the millions of llrs compny hs mssed in sh reserves?  No.  How bout level of brnd recognition tht hs creted n ever-growing percentge of mrket-shre? No. Is it Humn pitl?  Importnt but no. leder’s strtegic vision? Sorry. No.

Stumped?  Like riddle-hint?  Ok.  Your business’s most vluble resource esn’t pper on its blnce sheet, yet it is possessed eqully by you nd every member of your tem. 

Here’s nother.  Your business’s most vluble resource n’t be found on its profit nd loss sttement but how you spent it directly determines your success or filure. 

So, wht is this most importnt nd vluble of re?  The nswer: TIME. 

There is sying tht “time is money”.  Time, however, is much more thn money.  In business Time is everything – the only thing.  nd ll businesses exist to just two things (profitbly):

Time, properly invested, is wht genertes, compounds, nd tpults growth.  The fct tht ll businesses shre this common purpose mkes incresing profitbility nd growth reltively esy: focus nd shrpen the return on your business’s most importnt investment: TIME.

If you’re business owner or mnger, tke n honest look t your time-choices.  n you drw stright line between ech of your ech dily ctivity nd your business’s purpose?  If you n, try to mximize the efficiency nd effectiveness of tht ctivity.  If you n’t, to minimize tht ctivities time-print nd, if possible, remove it ltogether. 

This simple exercise is especilly critil for those who own – their very survivl is directly relted to the choices the owner mkes with very srce mount of time.  The bility to recognize nd focus on s tht mke current s hppy nd get new s is bsolutely crucil.  t the sme time, however, smll business owners fce second chllenge – mnging or delegte ctivities tht re importnt but not directly relted to their business purpose.

If your business is bit lrger, extend this process ech tem member of your orgniztion.  n you drw stright line between ech member’s dily ctivities your business purpose: 1) Mking current s hppy nd, 2) Getting new s?  with ech member to mximize the effectiveness of ctivities tht you n, while minimizing or removing those you n’t.

n’t be surprised if you discover lrge number of ctivities, or even entire positions or processes tht hve no reltionship, either directly or tngentilly, to your business purpose.  Mny such ctivities my be esily rtionlized s necessry.  Ech instnce, however, is n opportunity to restructure nd relign your business’s most vluble resource, time, with wht is relly importnt: Mking current s hppy, nd getting new s.

 

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