Chick in Charge of Time

Time is money.
Time is money!
Time is money?

However you approach the phrase, it may help you to think of the value of your time as, well... actual cash. I'm not thinking of billable hours or the income you can produce in an hour, but the satisfaction of being alive for that day, hour or minute.

We all have the same time budget, 24 hours each day, 7 days each week, and so on. How do you spend your time? Does your spending align with your values and priorities? Like anything else, our priorities shift with. Have you adjusted your time spending as well?

Routines are hard to change and can become written in stone simply because we are creatures of habit.

Here are two examples:

On the professional side: Sarah has always done the bookkeeping for her pottery supply business. She was told early on that this was a simple task with QuickBooks and that it was extremely important to have a complete understanding and awareness of the business finances. As much as Sarah hates bookkeeping, she accepted that it simply must be done. Over the years, the business has grown and now she finds that 40% of her time goes to managing the books, payroll, accounts receivables.

At home: Sarah has always felt that girlfriend time is sacred. Her work is very draining and she has been committed to keeping up with her monthly book club. She always comes prepared, having read the book selection if she wanted to or not. With the business growing, her girlfriend time is more limited, and the reading time is keeping her up nights, furiously trying to finish each book. Sarah considers dropping out, but she adores the time with her friends.

What to do: If time gobblers are causing you stress, give the situation some perspective. Why are you doing things this way? What do I gain from this? How could I change things and still get what I want? Sometimes, just explaining the situation to a friend, thinking out loud, can bring clarity you were missing.

Poor Sarah! Clearly she needs to either hire a bookkeeper or outsource the work. Every business owner goes through this growing pain and the bookkeeping is the first thing to unload from the owner's list of responsibilities. For many in her shoes, NOT hiring a bookkeeper has stunted the growth of the business because the owner was too busy sweating the drudgery.

As for the book club, she may be surprised to find that her friends feel the same way she does. She needs to try converting the book club into something that works for her. Maybe the restaurant of the month dining club? A wine tasting group? Her club isn't the problem, the BOOK is.

Finding time. Take a moment to consider your weekly or monthly obligations. Are they truly a good use of your time or fruitless routines? Is the annual vacation with your old college roommates really where you want to be each year, or is it one of those, "But we ALWAYS go to Vegas the 3rd week of whatever!"?

What about the morning sales meeting? Could it be 3 times a week? Does it really need to be EVERY day. Are you missing out on your kid's bedtime because of a silly TV show that you USED to like. Old habits die hard. Clean up your calendar!

This is the fun part....

I was asked to consult a business on some areas of concern regarding slipping sales, dipping response rates to marketing efforts and an overall slowdown of business. The manager seemed despondent, depressed and frustrated. They have a great product, superior service, yet they were not keeping pace with their plan.

Call me Little Mary Sunshine, the annoying optimist, but..... in my opinion this is when the fun starts. This is where you can tell who LOVES running and marketing a business and who just relies on formulas they learned in a seminar in 1996.

All of the business books you've poured through, the magazine article case studies you've pondered, the blogs you follow, the tips and tricks you've heard along the way when times were good. Now is the time that you get to actually put those golden nuggets of DIY in place and see what works!

If you love business and especially marketing, these are the best of times, when creative business minds produce their finest ideas. Perhaps motivated by fear or necessity, but regardless, you are forced to shake things up a bit. It is easy to get lazy when sales are steadily going up, your employees are enjoying healthy paychecks, and your clients pay their bills on time. So, now is the time to become the clever whipper-snapper of days gone by, when you were still fighting to show off your stuff.

Let me also say that for those of us who sign the BACK of a paycheck, now is also the time to show off your best stuff at work. With layoffs looming, you want to show off your best stuff when times are tough. Present a cost savings idea, dig deeper for new business, show your enthusiasm regardless of the economy.

Bottom line: Your attitude makes all the difference, for you, your co-workers and your own economic future. If you approach these challenges with enthusiasm, passion and the spirit to find the winning combination of efforts, you will not only increase your chances of great success but also gain the self-confidence of having come through it all a winner, no matter what.