You can’t do everything in your business. It’s not practical—and it’s not even really possible! 🙂
And yet, even though this is a very easy concept to understand, it’s one of the toughest ones to actualize on a day-to-day basis.
So, when you’re faced with the choice of what tasks to tackle in your business and which tasks to leverage or leave behind, how do you choose?
(Do you agonize over these choices? Or cycle through the decision process over and over again? Or decide NOT to decide, then stay up all night doing a task you should have outsourced? Full transparency: I’ve done all three.) 🙂
However, I’ve discovered that it can actually be pretty simple. Just ask yourself this ONE question, and you’ll have your answer, clear as day.
Check it out here on this week’s blog post—and be sure to let me know what you think in the comments! I love hearing your feedback.
Pam, right on! I say the same thing all the time. Not saying that I follow my own advice 😉 I need to constantly remind myself the value of my time and whether I am the right person to the tasks at hand myself.
WOW! You are so smart and I just love to listen and learn from you. My question is, will you help write up a combination retail business plan for me? Please!
Thank you in advance.
Hi! Thanks so much for your comment! As you can imagine, like you, my schedule is extremely full, and I get several requests similar to this each and every week that would be impossible to fulfill. I do wish you the best of luck in your endeavor and please keep in touch as to how you’re doing!
Pam, thanks for this, it is really valuable. Its been effective for me to ask myself throughout the day if what I am doing is getting me closer to where I really need and want to be! And, its effective in meetings with clients when thing start to drift. I’ve used it as a way to bring everyone back to the present moment.
Also thanks for the link to Eben Pagan’s training series.
Thanks Margy, great point about using it with clients too. You’re right one of the biggest problems with people we consult or coach is they struggle to stay on track or make good decisions about what to prioritize! Thanks for your share!
Time is ALWAYS of the essence.
Although we should never over think how much time we commit to a project, we need to be mindful of the value derived from the time which is given to it.
Time is the only resource shared equally amongst every person on this earth every day.
What we do with it will determine the person we are.
Everyone should consider that if today, they were laying on deaths’ doorstep, the question to answer would be, have they made the best use of the time they were given?
It is either yes or no, and generally, most will answer, regretfully no!
Therefore, it is important that people prioritise their lives, their goals and their dreams, and in doing so, manage their time better to get things done so that they can enjoy that time which is et aside for actually living a life filled with love, laughter, joy, success and fulfilment.
Time is a most precious commodity, and it is measured on a calendar and on a clock in years, months, weeks, days, hours and seconds. At the end of the day, how many have been of value. How many have been lost – wasted, never to be had again!
A life is a time-piece. Don’t waste one precious moment.
Very eloquent, Nobby! 🙂
Great point on opportunity cost. One those (too few) occasions when I do stop to think about it, the most useful thought I can have is “is this the best use of my time right now?” A little easier to say ,but it’s not as searching as your suggestion, which I will try to take to heart.
Sometimes simple is the best way to go so if that question is working for you, I’d go with it! Another variation on that question is: “Is what I’m doing right now moving me closer or further away from where I want to be?” Thanks for your note!
Thanks for the FREE REPORT:
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Also, love the idea of including a transcript of the video too.
I love both, but you are the first person that I have come across that is doing that. EXCELLENT!
All the very best for 2015 & thank’s again for all your amazing materials & the Eben Pagan video links…
Thanks Michael, I really appreciate the comment! I spent SO much time trying to figure it all out when I was starting out that I wanted to put something together that helped solved that puzzle for people. I’m glad it’s helpful! Keep in touch and let me know how you’re doing! 🙂
WOW Pam, I had to chuckle a little because we just cover this theory in my Economics class two weeks ago. So, when you started this video with the definition of opportunity cost I was totally amazed by the timing. Now, as you know because both yourself and Joan posted on my Facebook page, my business deals with social media marketing. The project I’m currently working on is putting local business directories on Facebook. How it works is, I go ahead and make a list of all the businesses I can find in a local city and create a directory either for a specific niche or I can list them all on one directory by business type and business name. Then I will drive traffic to the directory to gain credibility and then contact the business owner to inform them that their business is on the directory and if they want to keep it there it with be “X” amount per month. They aren’t obligated to stay on if it’s not something they want to do. Ican easily remove them upon their request. The one I have currently set up is Conyers Local Dentist Directory if you do a search on Facebook or you can check it out on your mobile device with this link http://moblr.io/sd/fb/3471 and tell me what you think of it. Be sure to click on the images because they redirect back to both the clients website or Facebook page. Your opinion matters because I’m learning a lot from you! By the way, thank you for linking my website!
William
Pam I really appreciate your thoughts .Excellent timing as I am going through a struggle with this time allocation thing.Thank you
Regards
Roger Davis
Hi Pam,
It’s not actually a new idea to me. I knew what opportunity cost meant in my accounting course in my college days. However, you made it quite clear how important it is in time management. It is quite something in a decision to make more profitable business. Kudos!