How Are You Spending Your Minutes?
Do you spend your time like you spend your money?
Last week I talked about how productivity equals money, income, profitability (and how to lower your stress while still being crazy-good-productive). I also gave my keynote presentation based on my book Business Dating, and I thought you’d be interested in the very first point I made to my audience:
Time = Money
More specifically, how much money is your time worth? I shared a simple formula, based upon a revenue/income goal of $100,000 a year. Assuming you take 4 weeks of vacation each year, each of the 48 weeks of your year are worth $2,083.33, making each hour of a 40 hour work week worth $52.08, and each minute of each hour 87 cents.
Afterwards someone said to me, Reducing it down to the ridiculous is what really makes me think that I’m recklessly spending my minutes, and maybe that’s why I’m always stressed and not making as much money as I’d like to.
One of the reasons I’m so protective of my time, plan each day in advance, and am relentlessly focused, is (a) because I have BHAGs (Big Hairy Audacious Goals, which I discussed in here), and (b) because I know the chances of me reaching my goals are slim-to-none if I am unwise with how I spend my time.
But this isn’t about me, is it? No, my friend, this is about you. My outcome for you is to help you get your structure and systems down, and figure out what works and what doesn’t when it comes to your productivity. I routinely hear: how do you write so many books, coach so many people, and still only work between 8 am and 4:15 pm each day?
I’m fairly productive because I do the following:
I follow the Fundamental Practices from last week’s post.
I have an assistant who handles all inquiries, provides information, and schedules my appointments (in addition to a million other things) so I can focus.
I say “fairly” because I am not always self-motivated to squeeze every last drop out of my daily lemon. I, too, want to surf Facebook for hours on end, binge on Netflix original series, or even just read a juicy fiction book. And I do those things, just (((usually))) not during business hours. 🙂
When I hear, “I’m happy to give/spend my time, but not my money,” I wince. You can always get more money. You simply cannot get more time. When you’ve spent a minute, it’s gone forever. If you believe, as I do, that every time money is spent, more money rushes in to replace it (as I discussed in here), then you’ll be more intentional with your time, for sure!
It is an absolute fact that when one focuses on the tasks at hand, those tasks get done in short order leaving more time to either do more tasks, or engage in extra-curricular (read: fun) activities.
Take 5 minutes to identify how much your minutes are worth, and use the other tips I’ve shared to maximize both your income and productivity, which will also allow you to have more downtime and fun!
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I am on a mission to inspire and motivate people to turn their vision and dreams into their real-life reality, sharing leading-edge processes I’ve created for myself and my executive coaching clients. I write about business growth and personal development, including shedding limiting beliefs, dreaming big and living the life you truly want. If enjoyed this article, then join my free newsletter and you’ll get a free copy of my networking book, Business Dating: Applying Relationship Rules in Business for Ultimate Success.