Daily Law Group
P 949-612-2743

How much is your time worth?

Business owners, especially new ones, often feel stressed and over-worked. You spend years coming up with your idea and what you are going to do, and you do not want to waste money hiring someone else to do tasks you can do yourself.

The problem, however, is that many business owners confuse "can" and "should." Just because you can balance your books or sort out shipments does not mean that is the best use of your time. As your business grows, so does the demand for your specific skills.

Think about the value you bring to your business and whether you have seen the signs that some tasks would be better left to someone else.

You're defensive about delegation

This may not be the first time you have heard the suggestion you should delegate some of your responsibilities. Whether you have heard it from a family member or a business partner, it may be time to consider whether you should act on the suggestion.

An overreaction to the idea that you should delegate might be a sign that it is time to add some extra help. As a business owner, you want to be able to do everything, but getting defensive about the idea of delegating tends to be a sure sign that it is time.

All-nighters have become standard

During the initial months and years of beginning your business, there will be a lot of hours to put in. There may be days at a time where you have little time to breathe and get time away from the business.

While typical for new businesses, this should be short-term. Once you have established many of the details of your business and you are starting to make money, it should be time to consider what needs your specific attention and what you can delegate.

Understanding your worth

Often, owners assume that their time is "free." While you may not have to pay yourself for the time spent balancing the books, your time still has a specific worth to the business. Instead of viewing your time as free, think about how much your customers pay for your skills and talents.

You started this business because you have a particular skill-set and that value is essential. When you begin occupying your time with tasks that are not within your skill-set, not only do struggle more than you should on something outside your skill-set, but you also lose valuable time you could do more of what you are good at.

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