Time is very precious… for anyone that has experienced death in a family it is always the one thing that everyone seems to reflect on during that time. How much time we have left? How have we spent our time? What will we do with our time in the future?
We all have the same amount of time in a day, in a week and in a year. It is the one limited resource and we all have the same amount of this, one valuable resource. You can:
1. Waste your time
2. Sell your time
3. Invest your time
1. Waste your time
When you are running your own business it’s really important that you are structured and that you are scheduling revenue producing activities every day. To help you with this you must be using some form of electronic diary. Otherwise you will be run by ad-hoc activities that creep up during the day. The purpose of this is to make sure you are very productive and you don’t go about wasting the time you have in the day. You also want to be allocating time for business and also time for leisure.
2. Sell Your Time
This is for those of you that are working for an hourly rate whether you are an employee or a consultant. In my one-on-one consulting business I was trading my time for money. This is not a smart way of utilising your time as again you cannot leverage as your time is limited, you only have so many hours in your day or your week.
3. Invest Your Time
This is the preferred approach to allocating your time. You are investing in revenue producing activities. With an online business you invest in producing content whether it be through video, articles, blogs, ebooks and reports. You are doing that work once and you are getting a return on that time invested for the whole time that work remains active on the internet. This is a great way to leverage your time.
I am investing my time on a consistent basis with my online businesses; I have 2 specific online business models 1. Affiliate 2. Consulting Services. With both businesses I am leveraging my time by creating content, uploading that content and getting paid on that content.
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