Monarch Money Message: Time Tips – Week of December 12th, 2016

Today’s video message is one of my lessons from my 5 day challenge. It’s not too late to join my FREE 5 day on-line challenge: 2017 Business Jumpstart – to learn more  CLICK HERE 

December is a great month to talk about time management- it seems it is the time of year no one feels like they have enough time! Already time-stressed folks can really feel like they are going to fall of the edge.
So, Let’s get right to the point. In an effort to make this a time efficient read (definitely an investment of your time and not a spend!) I have 3 tips for you to get more time back in your day RIGHT NOW

1. Invest vs. Spend
   What is a good investment of your time?  Here are example of time with an “ROI”  – Return on Investment
   – time on  sale generating activities (careful here, that may also be a bit time spend if not managed properly)
   – investing in technology
   – outsourcing / delegating
   – Education and learning
   – working with a coach (you know I had to get that one in!)
    
2. Stop “costing” yourself by doing low wage tasks
   Here is a story about one of my clients. “Jane” is an attorney who billed herself out at $350 / hr. However, to “save money”, she did a lot of the paralegal and administrative tasks herself. (She was not actually paying herself a salary, by the way)Administrative work is about $10-20 per hour.
   Jane spent at least 3  hours a day doing this work. Not hiring an admin meant she was LOSING $330 ($350-20) an hour in revenue opportunity. 3 hours a day means she lost $990 of revenue  producing opportunity EVERY DAY – $5,000 a week!.

   Once she hired an admin, within 3 months she felt FREE – whether that extra time was spent in meetings (yes her revenue increased substantially too) or at the soccer field with her daughter., it changed her life. How will it change yours?

3. Default Calendar
   How many of you just shuddered at the words “Default Calendar”? it is not as scary as you think, and can bring you the freedom you only dreamed.”John” is a client of mine who does IT for companies. As you can imagine, a lot of his work is reactionary (AKA emergency!). so here’s what we did. We created a “Default Chunk Calendar”.
   We figured out ALL the things that happen over the course of a week in his business. We then determined how much time (on average) each of these take (including an average “emergency”). We then placed the chunks on the calendar. We made them so that they were easily interchangeable. I must add, we also implemented a couple of other strategies which significantly  reduced of occurrence of emergencies all together as well.

   Bottom line… Everything got done easily. Stress gone and more time for “date nights” as well as “John” time

So- what will YOU do get get more time back in 2017? I’d love to know – comment below!

To your success,
Coach Lee