May Tips: Know the Worth of Your Time

This is a follow-up to my last post on saving and ensuring you’re not wasting time. That’s because you need to know the worth of your time! And believe you me it is valuable, possibly more than you even think. If you’re a small business owner, think about how much you bill out for your time. Are you wasting time that you could be making money or searching for new clients on menial tasks that don’t stack up? You might even be spending that time on a client that’s taking up 50 percent of your time, but only generating 10 percent of your income! That’s as close to wasting time as it gets. You might be able to spend it on your more profit generating clients and bringing in a little extra with them, or searching for other low time, high profit clients. Know what you’re worth and what your time is worth.