Time is Greater Than Money

Time is Greater Than Money
January 21, 2013 Derek Fournier

Sure, every business owner dreams of having more orders or requests than they have time to fulfill. Sadly, many opt for ‘busy’ over successful and work themselves right into failure.

I was speaking with a client the other day and commented that we had not been able to meet up on our normal interval. This was a Skype session, and he commented that he had been extremely busy with clients and work which, on the surface is a great problem to have.

But is it?

Of course it is, assuming a few core things:

1. You are busy with work that is profitable to your definition.

You have heard me speak about only winning business you want and on focusing on winning the right deals, not just taking deals to be occupied. Sure, there are times when you have to pay the bills and you take a deal that is not perfect. Just remember that it is almost impossible to raise your prices when the condition changes and that taking work that you do not really want creates an opportunity cost down the road as you have finite resources. (see next bullet)

2. If you really have that much GOOD work, you need to look at a strategic way to increase your capacity.

I know many small business owners virtually wet themselves when it comes time to expand in the form of employees, but realize that if your ‘product’ requires people, you will eventually need more of them to scale. Knowing that and that there are tons of creative ways to accomplish the task is critical. As my friend GI Joe said, “Knowing is half the battle.” (Disclaimer: I am not really friends with GI Joe.)

3.  Do not get mired in the tactical at the expense of the strategic.

This is a double-edged sword because you clearly need to make your dates and deliver on promises. That said, you need to commit to strategic items as well and start blocking time out of your schedule that is as immovable as other items in order to make time for them (like sessions with me!)

The underlying point to this post is that while many folks babble about “time is money,” the reality is that time is far greater than money. You can always get, find or procure more money. Time is finite; well, your time, that is. Using it (and you) wisely is the key to success.

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