Mastering Your Time
What is your time worth? Usually when we ask ourselves that, we’re trying to figure out what rate to charge a customer, but when you’re learning to master your time it goes so much deeper than that. After all, time is money.
Think about it… Whatever money your business could make in the hour you spend working on a task is significantly reduced if you aren’t as skilled at managing that specific task. For example, if you aren’t skilled at web design, building a website could eat days of time out of your schedule, which is time that could have been spent doing money-making activities in your wheelhouse.
Maximizing Time Efficiency
Some of the things your business will need as you continue to grow will likely be things you aren’t as skilled at, don’t have the time for, or aren’t as passionate about. That’s true for every business. However, using your time as efficiently as possible maximizes your profits and makes your business more successful.
Learning is great, but spending extra time to learn new skills that you aren’t enthusiastic about is lost profit.
Hiring Outside Help
A lot of people see hiring outside help as either giving up or throwing away their money, But when you remember that time IS money, this idea becomes a little ridiculous. If you’re wasting time, you’re wasting money.
Hiring an outside service to do the work you aren’t as passionate about or as skilled in pays for itself by stopping you from losing time. Precious time you could spend on big vision, top dollar tasks that can ONLY be done by you.
I’ll give you an example. Although I am an author (and encourage you to read my newest book!) I am not a content writer. I am a sales coach. That is what I love to do, and the more time I spend focusing on that, the more money my business makes. But in the SEO era, having a website and a content writer is essential for a successful business. So what do I do? I hire help! With the help of my content writers, I’m able to produce better posts faster than if I tried to shift gears from coaching and consulting to writing every day.
All About Your Value
When you talk to your clients, you probably give them an hourly rate for your labor. That is not the same as asking what your time is worth. The question is not “how much money do I charge for an hour of work?” The question is “how much money does the work I’m best at creating total every hour?” Once you figure out that number, you’ll be able to set a budget. An hour spent working on your primary focus might net $200. If it would take you 20 hours to build something, that is $4000. Comparably, you could hire an expert who can finish the same task in 4 hours.
Does the idea of hiring support intimidate you? With Recruit, Hire, Retain!, you and your hiring department will learn best practices (as well as non-traditional methods) to find and recruit the right people, perform structured behavioral interviews, and clearly define the expectations of new applicants.
The RIGHT people are your company’s greatest asset. Stop wasting time on ineffective hiring. Start building the team of your dreams.