It's time.
Ā
It's the resource that whether you're Elon Musk, or just some random dude working out of a home office in Canada (ie. me), have in equal quantities.
However, the biggest difference is that great entrepreneurs understand how to:
- Ensure that they free up the most time that they possibly can
- Maximize the effectiveness of the time they have
So why do I have a picture of my cartoonishly large water bottle?
Well, recently, I upgraded my water bottle to a full 3L jug.
Why did I do that, you ask?
Well, because I used to have a 2L jug, which I'd need to refill twice a day (ya, I drink a lot of friggin water haha).
And just the fact that I had to walk into my kitchen and fill it up twice a day, thereby breaking my attention towards whatever I was doing, was decreasing my efficiency.
So I bought a 3L, which doesn't need to ever be refilled until the next day.
Great entrepreneurs understand that every single hour, minute, and second spent doing something that isn't working on their business has a cost.
Let's say you value your time at $250 an hour.
If you are spending 2 hours a day cooking, you just spent $500.
Now, if you enjoy it, keep doing it. We all need to spend time on the stuff we love, so we maintain sanity.
But if you don't love it, if it's only done because you have to do it, why spend your own time on it?
Outsource it. Automate it. Build systems or processes that unlocks that time and puts it back into your day.
So that leaves maximizing the effectiveness of your time
So, Elon Musk only has 24 hours a day.
The same amount of hours you do.
How does he get so much more done?
He knows how to prioritize.
There's only certain things he can do in any given day.
So he chooses only the most important things.
The question is, are you doing the same?
Or are you running around like a chicken with their head cut off, trying a whole bunch of random bullsh*t stuff, with no strategy.
Do you know your north star goal?
Are you working on just the one or two things that matter to get you there?
That's a mistake that I made in spades when I first started being an entrepreneur years back.
I would try to do 100 different things, and what ended up happening was that I did none of them particularly well.
These days, I understand that there are only a very small number of activities that actually make a difference in my business.
It's building GREAT products that add absurd value to my clients, it's getting my name out there so that more people know I exist, and making sure my current clients love what I do.
That's it.
Anything else doesn't get me to where I want to go.
Here's the takeaway. You have 24 hours a day. Maximize it so you can use more of it effectively. And when you use it, use it doing the right things that make a difference.
š In the comments below, tell me, what are the things that matter MOST to you in your business?
š As well, what are the things you've been wasting time on?
Would love to hear your thoughts!