Momentum Business Academy

Are you wasting time saving money?

Jul 02, 2020

You’re working 50 to 60 hours a week but still can’t seem to get through your workload.  You know there has to be a better way to manage your time, but you haven’t found it yet. 

How often do you get to the end of a day when you’ve worked really, really hard, but you feel you have nothing to show for it?

It’s frustrating isn’t it….and the scary thing is, if you as the business owner are feeling this way, chances are your Team feel exactly the same way, or worse.

When you think about it, Richard Branson, Bill Gates and Mark Zuckerberg all have the same 24 hours that you do, yet they’ve grown huge businesses from start-ups.

So if it’s not the hours in the day, what is it?

It’s how you use those hours.  How clear are you on your priorities? Does your use of time truly reflect those priorities?

When we first start working with clients, we give them 2 very simple processes to follow to get their time management under control.

Often, we find that the business owner has trapped themselves by “saving money” through doing menial jobs they could pay someone else far less money to do.  Like the owner of 2 Hunter Valley retail outlets.  He used to spend a lot of his time on the shop floor, saving himself around $20 per hour but costing himself a fortune.

These days he spends 80% of his time marketing.  Driving traffic to his website and retail outlets.  This focused time has allowed him to set up e-commerce on his website, to travel to China and source new suppliers (boosting his gross margins) and focusing on adding a wholesale arm to his business.  This use of time is paying him back many multiples of the $20 per hour he was “saving”.

It’s amazing what you can achieve when you focus on the value you can create with each hour of your day rather than on what that hour costs you.

Until you understand how you are actually using your time and how to change it, you’ll continue to be frustrated!

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