Value Your Time

Posted July 25, 2012 - Emma Mills in General

If you’re constantly feeling behind schedule and that your to do list never shortens then you may need to re-evaluate how important your time is and the return on investment that you receive from each task.

A good place to start is to calculate your hourly rate.  For example, if you bill your time at an average hourly rate of £50, any tasks in your business that do not directly allow you to bill your rate or enable you to create new business relationships which will lead to extra revenue should be low down on the to do list. However, jobs such as chasing invoices, booking flights, creating presentations or finding out whether your recent clients were happy with your service are all important and still need to be done.

So how you can complete these tasks without spending your current time value of £50 per hour?

Outsource the tasks that someone can do more cheaply. Don’t waste your time on things of lower value while other important tasks are building up.  Services such as virtual PA’s, book keeping or paraplanning all exist to make your life easier and ultimately help you to grow your business to the best it can be.

Once you identify the tasks you can outsource you must then resolve to carry out only the tasks that earn you your rate or generate new business. Outsource and you will be surprised at what you can achieve in the same amount of time.

Remember…..There is never enough time to do everything, but there is always enough time to do the most important things.

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