Everything you do is an investment. This is both a philosophical and practical look at time and money. Time is the one thing each of us has and money is just another word for “options.” If you have money, you have options. You need to invest each for a payoff.
Consider these points:
- As with dollars, you get every minute once; how you spend it determines the return you get.
- Your time is your greatest asset.
- Every person in every organization is in a revenue-generating position for the organization or they wouldn’t work there.
- Whether you realize it or not, everything you do has an underlying value proposition: I’m doing this because there is a payoff, and somehow I have determined that this payoff is greater than any other possible payoff from any other action.
- No” is your new favorite word.
- How you invest your time and money in your personal life affects your workday and vice versa.
- You need to put a dollar value on your time so you can tell if you are doing the right things. With a metric for understanding the cost of your man-hours, you can track the investment in each activity, compare that against the return and establish the ROI for that activity. This will tell you how you should be investing your time for the greatest results.
- The things that were once the best investment of your time may not be anymore; you need to step back and measure.
- Understand which clients and projects are the best use of your time. Break down your clients into market segments and decide which activities really have the ROI you need.
- Develop a plan to go after only the projects, activities or market segments that provide you with the greatest return on investment.
- Enjoy work and life a lot more because investing your time and money the right way leaves you more fulfilled and less frustrated.
Invest wisely and you’ll see the payoff.
Matt Judge will be speaking at ISAE’s Annual Convention in Muncie on July 17. Check out his breakout and keynote sessions: How to Sell a Service: It Starts with C and Everything You Do is an Investment