Time is Money, But Do We Treat it as Such?


Time is Money—We’ve all heard it, but how much do we actually apply this to our everyday lives? If we treated time with as much value as money, what opportunities would await?


Time is Scarce – Maximize it

If there is one thing that is limited, it is time. There never seems to be enough hours in the day, so what can we do? Some might say, to put it simply, manage those hours wisely. However, to say the answer is time management may be an oversimplification. Time management is important, but it isn’t the key to success. Rather, the key is to not only manage but also maximize every waking hour.


Time Should Be Structured

Within an organization, whether you are a manager or a general employee, structuring your time will maximize workplace efficiency.


Automate or Delegate as Much as Possible

When working on a project every team role should be assigned specific tasks. At a managerial level, delegating is crucial to free up time for high priority items. If your role type is one that gets tasks assigned, work with other team members of the same role type to delegate the tasks that each team member is strong in. Set up knowledge transfer sessions with your fellow team members to learn the tasks that they are strong in.


Set Up Management Task Status Updates

It is important to get daily updates from your team or team members of the same role to check in on any issues or clarifications needed. This approach reduces and eliminates the need to do rework and waste that ever-important word and topic, time!


Deliver

When time is delegated and structured, teams successfully deliver on time and are able to start the next project or phase in a timely manner, thus adding strong value and high client satisfaction.


Time is an Investment that Brings Value

On a personal level, most of us take care in how our money is spent. We carefully choose our investments and best products for the value. If time is money and we so carefully weigh investments and purchases, shouldn’t we take the same care in how our time is spent?


Just as you have to invest money to make more money, the same can be said about time. The way your time is spent should bring value. Training, advancing, or learning new skills is often time well spent, as you could be learning ways to automate tasks or better maximize efficiency, thus saving you time in the future. Time well spent adds value, and often buys you more time.

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