Tuesdays with Michael: What Is Your Time Worth?

By

By Michael Gidlewski

Time is more valuable than money simply because time is your most limited and scarcest resource and how you use your time will greatly influence your success.

Time is more valuable than money and can make or break your future. There are only two things you can do with time. Research reveals that the most successful people are very diligent about how they spend their time during the day, week, and month. They have a different relationship with money. They have an abundance mentality and know they can make money and lose money and make more money. You can spend money and always get more of it. On the other hand, once time is gone, it is gone forever.

Consequently, time is more valuable than money. Current studies in the management profession tell us that the average professional has four hours per day of productivity. I think those studies are a bit low based on my interaction with leaders and professionals. The key word here is “personal productivity.”

Last week, I spent a lot of time talking about high-payoff activities. To recap, high-payoff activities are basically getting the right people (clarify) doing the right things (behavior) the right way (process) for the right reasons (purpose/goals) at the right time (priority). High-payoff activities are the things that really matter most and will move the needle.

Keeping laser-focused on HPAs is a critical success factor. The No. 1 way to stay focused on high-payoff activities is to get rid of all low-payoff activities. Take all LPAs and put them through this filter: simplify, eliminate, delegate, or outsource them. You must build a strong team around you.

Low-payoff activities steal our time on personal calls, errands, ineffective meetings, long lunches, or a myriad of other time thieves. Those with an entrepreneurial/owner mindset value their time. They know what they are worth and are continuously vigilant about how they utilize this precious asset.

The biggest downfall I see is doing $10 LPAs and getting paid $50 or $100 an hour for that work. It doesn’t take a math major to figure out that you are losing money every time you do an LPA. Are you crystal clear on what your time is worth and do you make decisions accordingly?

Here are a few questions you can filter every activity you are doing through as you move through your day:

  • Is what I am doing now moving me toward my goals, or not?
  • Am I increasing my contribution factor to my organization?
  • What can I and only I do, that if done well, will make a real difference?

This last question comes from management guru Peter Drucker. It is one of the best of all questions for achieving personal effectiveness. What can you, and only you do, that if done well, can make a real difference? This is something that only you can do. If you don’t do it, it won’t be done by someone else. But if you do it, and you do it well, it can really make a difference to your life and your career.

What is your answer to this question?

_________

Michael Gidlewski is President of West Chester-based Achievement Unlimited, Inc., as well as a growth catalyst and motivational speaker. He works with motivated business owners and entrepreneurs to clearly define the elements of what they dearly want their businesses and lives to look like, then helps them connect all the moving parts that make up those visions to consistent action and habits. Michael can be reached at 610-793-6609 or via e-mail at michael@achievable.com.

[uam_ad id=”80503″]

.

[uam_ad id=”80502″]

Connect With Your Community

Subscribe to stay informed!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
Advertisement
Creative Capital logo