Wednesday, January 29, 2014

5 Ways to Make More Money Simply by Using Your Time Well: Tips for Employees and Entrepreneurs

Perfectionists.... Whether you're an employee or an entrepreneur, perfectionists want to do everything personally. As the saying goes, "Unless I do it, it won't get done correctly." We've heard that before, and probably said it a few times ourselves. But, doing everything yourself means you're doing menial tasks that can waste money. Sure, we get the satisfaction of doing it ourselves, but that satisfaction comes at the cost of profit.

Broken faucet? We're on the job! 
Computer glitches? Let's get down to business! 

But the time spent fixing that plumbing or doing that I.T. work is time we didn't spend on the business (unless, of course you're a plumber or an I.T. person), and that lost time could have earned us far more than what we saved by doing the job ourselves.

Making money is rarely about saving it. It's largely about getting more out of every second of every day. When people talk about the richest people in the world, they don't just talk about their net worth. Instead, they talk about how much money they make per second or per hour. That's because deep down, we all know that life is a marathon, not a sprint. It's about making proper use of our time so we make more money per hour.

So how can we accomplish more in less time? Here are five ideas to get you started.

1. Focus on the Jobs That Make the Most Money
There are plenty of things that both employees and business owners need to get done, and not all of them are business-related. Marketing, house/office cleaning, link building, and customer service are just some examples. 

Which of these isn't like the others? Which one won't make you money? 
If you answered house/office cleaning, you're right. Time is money, and if you spend your time on the little things, you'll end up sacrificing the big things -- the jobs that can pay for your food, rent, and car. Time management isn't just about finding time to do everything. It's about prioritizing and finding the time to do the right things.

2. Relax!
Many of us wrongly associate relaxation with lethargy or laziness. Nothing could be further from the truth. While most people would find it unthinkable to relax when they have a business to run or when their bosses load them up with tons of projects, that's not true for those who make hundreds of dollars per hour. Relaxation allows a person to create space between their work and themselves. It gives them the time to rest, and with that time the ability to see the forest for the trees. Bury your nose in your work, and you'll start to lose perspective. Time off helps to maintain that edge.

Taking some time to relax also lets you recharge. Most employees and business owners alike handle multiple aspects of the business every day -- juggling numbers, thoughts, ideas, and who knows what else. Even in short bursts, such activity can be extremely tiring and can rob a person of their energy in record time. A person who is low on energy is more likely to miss out on an important detail or two, and that can spell disaster down the road.

3. Get a Personal Assistant or Divide the Workload
A Personal Assistant - for Entrepreneurs & Supervisors
If you're an entrepreneur or a supervisor within your company, you may have the option to get a personal assistant. A personal assistant is there to make life easier for you and to sort out the little things, which is great since it lets you focus on the big issues instead. For as little as eight dollars per hour, you can hire someone who will perform basic tasks, such as making sure your bills get paid on time or doing your grocery shopping for you. If you develop a good relationship with your assistant and they prove trustworthy, you could even end up using them to sort through your email, so only important messages get your attention. Depending on your situation, you might not even need your assistant to be in the same country. Virtual assistants can work well as researchers and email handlers from anywhere in the world.

Divide the Workload - for Employees

If the amount of work you have while you're at your job is too much to handle on your own, an even simpler option would be to divide up the workload. You'd need to meet with your supervisor or your department manager in order to get this going in the right direction. You'd want to start out by explaining that you appreciate the responsibilities delegated to you. From there, get specific about why certain tasks should be passed on to other people or even to another department. Keep record of how long it takes you to complete your workload. You could use time sheets and free online time-tracking tools to show where your time is going each day. Bring all of these notes to your supervisor as visual proof that something is off-balance. You and your supervisor will be glad you did. A manageable workload helps make a profitable business.

4. Find Out When You Do Your Best Work & Schedule Priorities
Each person has a different rhythm. Stephen King works in the morning and until noon. So did Henry Miller, who would work from morning till afternoon, spending evenings with friends. They understood they had a rhythm. Instead of fighting it, they embraced it fully.

You should do the same. Figure out when you do your best work. Make a chart if it helps. Once you figure out when the best ideas come and when you feel in the zone, work out your schedule so it coincides with your ideal work time.

If you have a particularly huge project to finish, and you're not a morning person, then don't start it as soon as you get to your desk. Work on the lesser important tasks until the afternoon, and then crank out that big project in record time after lunch.

5. Get a Maid or Tidy Up
Get a Maid - for Entrepreneurs & Managers
A clean work space is a usable work space. It's relatively easy to find people who can clean your house, wash your dishes, and cook. Those chores take time you could be spending on marketing a new product. Focus on making enough to afford to pay someone to clean your floors, while you ensure your financial independence and future.

Tidy Up - for Employees
If you're an employee, ask your boss if you can get some janitorial services for the office, if you don't already have them. This is a standard procedure for most businesses, because employees really should be focusing on their work and not tidying up the office. If it's just your desk that always looks like a whirlwind, then make it a priority to clean it up as soon as you start your day. Get some filing folders, labels, or a separate small filing cabinet to fit under your desk, if you need it. You will work much more efficiently when you work in a clean space - and you'll be a lot happier too!

When it's all said and done, it really boils down to this: You need to figure out which aspects of your life make the most money and which ones can be delegated. If it isn't worth your time, don't do it or take the steps to get it moved elsewhere.
It's as simple as that.

Happy Hump Day,

Peter "The Printer" Lineal
Plum Grove
2160 Stonington Avenue
Hoffman Estates, IL 60169
Ph: 847.882.4020 Ext: 133

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