With the hectic Christmas period over, I have decided for this month’s newsletter that I want to talk about ‘time’.
Everyone has 24 hours a day, and some of us manage that time better than others.
Most conversations these days are so predictable.
“Hi, How are you?”
“Oh realllllyyyy busy”,
Is usually the first thing that comes out of everyone’s mouth, regardless of their employment status (Ok, maybe it is just the people I mix with, but hear me out).
Being super busy, overworked and time-poor seems to be a trend to strive for these days and it has got me worried, especially for people running a small business.
Are we too busy that we are not working on our businesses, only working in them?
Are we working so hard on making a living, that we are not having a life?
Are we putting everyone else first, giving all our best energy to others and not looking after ourselves?
I am pretty sure a lot of us are, and I don’t need to tell you that this sort of “busy” will lead to burning out, and that it is no good for you. In your heart you know this and you don’t need me to give you a virtual slap to the forehead.
So what can we all do about this?
My dear friend Kate Christie has an insightful business called Time Stylers that teaches people how to regain thirty hours a month.
She said some things that really got me thinking. I hope you find these useful.
Kate suggests you break the things you do into four categories:
- Must do (like eat, sleep, etc)
- Want to do (things you love to do)
- Delegate (all the things that you do that you could delegate now or in the future)
- Reject (all the things to do smarter or just eliminate from your list entirely)
From here you can audit your time, and get more things in the “want to do” happening.
But it doesn’t stop there. She asks us to value our time per hour so that each task has a cost to it.
She shows that paying someone else to clean your home or iron your clothes could actually save you money. For example, if your time is worth $50 per hour and you spent an hour ironing every week, this is $2,600 you are spending in time each year. Paying a professional to do the same task will cost you around $25 an hour, and because they are a professional they will finish the job in less time.
Another thing that Kate discussed was how every task we do has 4 potential costs:
- Financial Cost: My hourly rate is $x, so is performing this task the best use of my time at my hourly rate?
- Opportunity Cost: If I waste time on Facebook for an hour, I could have gone to the gym instead for an hour.
- Emotional Cost: If I spend my whole day cleaning on Saturday instead of playing with the kids, how will this impact them and me?
- Physical Cost: If I do the gardens, will this hurt my back? Will I be out of commission all week because of it?
In a nutshell, time is our most valuable resource that you can never get back. Each time you say yes to someone, you say no to yourself. So take some time and do an audit of your life. You could free up 10 or even more hours a week.
You can purchase a copy of Kate’s book Me First here.
Until next time! Have a great month.
