My business minded 16yo daughter – was questioning me over dinner last week about why I dislike tasks such as food shopping, lawn mowing and general maintenance so much.
Note– she knows how much I dislike these activities – because of the filthy mood I get in when I am doing them – and also by the speed my trolley moves when in the supermarket. – all aimed at getting in and out of the shopping centre as fast as possible.
My explanation follow on from an email I wrote a week or so ago about time management.
I explained to her that we all need to be aware of how we spend our time – and that “time” is our only limited resource.
I went on to divide my average yearly income by the number of hours I am available to work in a year – so we ended up with an estimate of how much money each hour of my time is worth.
This is a very useful number – and I suggest all business owners know this when deciding if you should do a certain task yourself – or if you should outsource it.
That being said – there are always times when you end up doing things that are not great use of your time.
The “letter stuffing ” example of a few week sago was a classic example.
It will give you all a laugh to know that I spent a large part of last weekend painting one of my older daughters new apartment.
I can hear you laughing from here and saying:
“Wrighty – what were you thinking?”
Well – in my defense there is a lesson for you in this message.
1. There will always be situations where you end up doing low value work – just do your best to identify and reduce these low value activities..
2. Look for secondary opportunities doing these tasks create – by that I mean look for ways to minimize the damage this lost time causes.
For example – while I was painting the apartment I had on the audio of a seminar I had wanted to listen to for some time.
I found an opportunity to make something of the time I was spending with the paintbrush.
As an aside – I got an idea from that audio seminar that will potentially make me an extra 100k in the next 12 months.
3. Not all activities come back to monetary value and cannot be measured in dollars and cents.
I have always been of the belief that you should never – ever – ever – put a monetary value on your family time – so even though I know my time is worth X dollars per hour – time with my family and friends is priceless and should always come first.
I also believe that by me personally paining my older daughters flat – she feels more special and more important than if I had just paid for someone else to do it.
She especially enjoyed seeing the old man with paint in my hair – fun for all the family.
So there is value in some tasks that far outweigh the simple monetary cost of the time I spent doing this painting job.
Remember – do value your time – but also look for the secondary benefit of the task and make your decisions wisely.
I hope this helps you in your health business and your life.
I welcome your comments on this topic.