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Time Is Not Money

Time Is Not Money

Forget the old saying, “Time is Money.” Time is not money. It’s far more important.

Many successful entrepreneurs can tell you story after story of the times they failed in business. Of funds misallocated, markets overestimated, and money promised that never materialized. A business requires money to both get started and to run, and without making money, a business is going under, and fast.

Those same entrepreneurs, though, were able to get more money eventually. Whether another round of funding came through or they had a new idea that moved units, the larger point is they lost a lot of money, maybe even lost a business or two, but they were able to get money again to start a new business that proved successful.

Such is not the case with time. Once it goes, it’s gone. The time you spend on a given effort, the hours and days and months and years, never comes back. There is no investment, no loan, no second chance that gives you back a day that’s passed.

Time Is Not MoneyFurthermore, the only thing you take forward is what results from your efforts, as well as any lessons learned. But these are good things! These are important things! They constitute the difference between innocence and experience, ignorance and wisdom. More to the point, though focused efforts may or may not yield the hoped-for results, they will make the most of the time you spend on them because that time will not have been wasted.

So how to maximize time as a small business owner? Here are four ways:

  1. Use social media managers like our friends at HootSuite to run your business’ accounts. This way, you can write posts on your own schedule and set up their publication far in advance.
  2. Hire a personal assistant (even outsource a virtual one) to handle time-consuming administrative tasks so you're free to focus on more important things.
  3. If something’s important, don’t text or email. Call.
  4. When it comes to digital content development, hire an outside firm like us to handle the production and implementation.

This mostly boils down to working harder and working smarter, but not necessarily working longer. Focus, prioritize, and make your days count. Money is important, of course it is, but it’s not as valuable as time. Nothing is. You can always get more money, but time only moves in one direction. Make the most of yours.

Tags:
small business, perspective, Small Business Tips, time management, working, advice, management

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