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Are you like millions of Americans struggling to manage their debt - Debt Management can help
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Time Management and Money
I remember how intrigued I was when years ago, and long before I
had heard of time management, I recognised the link between time
and money - we say that we 'spend' both time and money, and also
talk about 'saving' time and money.
Moreover we usually find that in order to save time, we have to
spend money, and vice versa. For example, to save time cooking,
we might buy ready- prepared food. Our decision depends on our
circumstances and priorities - someone else might well prefer to
save some money and spend more time preparing and cooking a meal.
We make these choices all the time and often have no objective
yardstick to show us how effective they are - unless our choices
are so extreme that eventually we are totally overloaded with
commitments, or on the other hand we run out of money!
Constantly trying to keep a balance between spending and saving
time and money demands a willingness to keep checking priorities.
This is particularly true of self-employed people starting or
growing a business. It can be tempting to try and keep all costs
as low as possible and do everything yourself. But this can be
counter-productive when you realise just how much is involved in
starting and building up a business.
You need to think carefully about money and time management. If
you can pay a specialist to do a job and thus free yourself up
to do something else, that may be the better solution. Here are
just a few examples:
* You might be able to tinker on the computer and come up with a
logo and some marketing literature, but how long will that take
and will the results justify it? Paying a designer might be a
good move.
* Business these days is wrapped around with bureaucracy and you
must comply with all kinds of government agencies. Is it better
to do all your accounts, wages and admin work yourself or would
an employee or virtual assistant do it better and quicker?
* Selling is an essential part of any business and one loathed
by many. You can either spend hours on the phone working
Associated Websites
through
directories, or hire professionals to do your cold calling and
set up appointments.
* Running business systems efficiently can be time-consuming and
repetitive. There are software programs available which reduce
the monotony, but they cost money. Another choice!
* If you need to travel some distance for work, consider the
respective merits of driving yourself or taking a plane or
train. A plane or train ticket may be expensive but you might be
able to do some work while you travel and still arrive in good
shape.
* You are probably constantly receiving invitations to attend
conferences, seminars and workshops. These are often held in
expensive hotels and can be pricey. It is tempting to think you
can save both time and money by not attending! But you can meet
some valuable contacts this way who will refer you work, thus
saving your marketing time and costs. At the same time, you may
well be inspired with some new ideas to transform your business
growth.
* Personal development - when you are working for yourself and
have no employer to pay for these on your behalf, training and
executive coaching looks very expensive and you may barely even
consider it. My own personal experience and that of many of my
clients shows that the spurt in growth which comes about when
you commit to personal development can move you further and
faster than you ever dreamt.
* Holidays and breaks - it is so easy to feel that we cannot
stop working or everything will start to crumble. The descent
from enthusiasm and motivation to worry and stress is an
insidious one which we may not even notice and which has a
profound impact on our time management. Give yourself the gift
of some time away from your desk, however, and you will return
feeling newly inspired and be so much more productive.
Time and money - our investments in both will ultimately pay off
in the success of our business and the happiness of our lives.
It makes sense to think carefully about the balance.
About the author:
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