We are all allocated the same amount of time but some people make more of their time than others.   Knowing the value of your time is essential to getting the most out of your business.   When you are in business you must treat TIME as an ASSET like CASH.   You need to look at how you are SPENDING your time and then ensure you are getting the best return you can on the time you are spending ON or IN the business.   You need to list the tasks and things you have to do and put value them.   You can then prioritise the things you have to do based on their value to the business.   This may mean that monitoring your Aged Debtor report on a regular basis could be one of the director’s most important tasks to ensure that cashflow, the life blood of the business, is running in the right direction.   When allocating your time you should also take into consideration the URGENCY of the tasks that need to be achieved. … [Read more...]