What do you think that successful entrepreneurs do superbly that less successful ones don't do as well?
I think managing how they use their time is right at the top of the list.
We've all seen people who run around like crazy and achieve very little and other people who seem calm and unrushed but create astonishing results.
I'd love to say that I'd mastered time management but I have regular struggles because of my unwillingness to delegate to subcontractors. I know it's wrong and try to remind myself that...
You have to invest time to save time
When I'm feeling particularly unproductive, I always find it very helpful to revert back to time logging every activity. Yes it can take a little bit of time but it makes me conscious of everything I do (before I do it) and I'm astonished at how long some activities can take.
Perhaps the best way to manage your time is to build a business that makes so much money, you can afford to employ everyone you need to free up your time with enough surplus to know that recruitment mistakes put right quickly won't hurt.
One of the most insightful (and memorable) thing that I've read or heard about time management is the distinction between two types of people:
- those who spend time to save money
- those who spend money to save time
Which are you and have you got the balance right?
Are you spending an hour saving $20 when you could be earning $200?
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