Friday, December 31, 2010

What's Your Time Worth? Make the Shift


Ok ladies, it's time to change up the way that we use our time in the New Year.

We all know that the most precious gift we have is time. Time gives us the ability to do what we want and need in our business (so we can make more money), have time to care for our health and wellness, spend more time with our friends, family and kids, and have more time to renew and reenergize ourselves.

What I learned this year is just how important time management is...in my life and my business. It's easy for entrepreneurs, especially women entrepreneurs, to lose focus because we're often doing so many things at once, right? We are constantly multi-tasking and trying to find ways to manage our time, so that we can accomplish everything on our list of things to do.

I want share a new way of looking at your time, so that not only you can focus better to get more done in a shorter amount of time, but also step into a new perspective of what your time is really worth because we often give our time away, don't we? 

I have found through my clients as well as from my own experiences that there are two primary reasons why: 1) our natural inclination is usually to take care of others first (especially for those who are also moms/guardians or even overly-generous entrepreneurs) 2) we easily under-value what our time is worth because we are so used to doing everything ourselves that it is hard to truly see the value of our time.

...so what does this mean? Well, it means that we get more easily overwhelmed and distracted and when this happens, we're not able to use our time in the best ways possible because we are thinking about all the other things that we feel that we need to be doing. Pretty confusing, trust me, I know.

So, here's what I want you to do right now and carry with you into the New Year:

  1. Calculate what your time is worth. This is going to help you shift your thinking, help you set boundaries and understand how you (and others) use your time. Here's how to do it.

    1) Determine how much you want to make this year...it's a New Year and a new start for you, so think about what you WANT to make...think bigger...not just what you made last year. I'm going to give you an example: Let's say that you want to make $100k this year and have 2 weeks vacation per year (at least). This leaves 50 working weeks per year. So, divide 100k by 50 and you get $2,000 per week. Since you work 5 days a week, that is $400 a day. Let's say that you work 5 hours a day (now this is completely focused work...no distractions, so that you're actually getting things done); that's $80/hour that your focused time is worth. Now, this is a modest amount, but you see the point.

    2) Now think about how you're using your time. Is what you're doing worth using up your focused time? For example, after attending a networking event, are you typing in all of the contacts yourself of those who you met? Is that time worth $80/hour?

  2. Set some boundaries and create a new plan for the new year. For each task on your to-do list, determine if you can automate the process, delegate the tasks, or if you should just delete the tasks or parts of the tasks all together. Set boundaries for yourself and determine those things that are really worth your time to do.

It will take some 'work' at first to shift the way you think about your time, set your boundaries (and stick to them), and determine how to free up more of the time you have, but doing so will help you to eliminate the overwhelm that you're feeling and empower you to step into and stay in your power as an entrepreneur, coach, mom, wife, friend, and the heart-centered passionate spirit  you are.

Author: Lisa Hromada is a Personal Branding Strategist and Graphic Designer who works with highly motivated women entrepreneurs/solo-preneurs who want to attract & enroll more clients, generate more revenue, and effectively market their business without overwhelm. Get your 3 free gifts at http://lisahromada.com/gifts.html
Want to use this article? Feel free to share it, but please be sure to include the "Author" box.

No comments:

Post a Comment