{"id":50531,"date":"2020-03-16T18:29:03","date_gmt":"2020-03-16T18:29:03","guid":{"rendered":"https:\/\/dtworks.wpengine.com\/?p=50531"},"modified":"2021-03-09T22:32:56","modified_gmt":"2021-03-10T06:32:56","slug":"back-to-the-future-of-entrepreneurship-valuing-your-time-currency","status":"publish","type":"post","link":"https:\/\/downtownworks.presstigers.dev\/back-to-the-future-of-entrepreneurship-valuing-your-time-currency\/","title":{"rendered":"Back to the Future of Entrepreneurship \u2013 Valuing your Time Currency"},"content":{"rendered":"
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How valuable is your time? Have you associated a cost with time, whether monetary or not? In my experience, time is one of the few currencies an early-stage entrepreneur has in his or her wallet to spend. Workdays are filled with brainstorming sessions, networking events, and all the things that make entrepreneur life and the hustle exciting and new. You push yourself to the limits with a \u201cget it done\u201d attitude, basically putting in your time (no pun intended) and making your rookie mistakes along the way. Of these missteps, I believe not valuing your time as money could cost you in the end.<\/p>\n

I think back to one of the greatest movies of all time, Back to the Future<\/a>! How cool it would be to be like Marty McFly traveling back in time with Doc Brown changing the past and seeing into the future. What if this was a reality for you? You\u2019re telling me that there is a time machine that can transport me back to when I started this entrepreneurship thing? Great Scott! I would give anything to travel back and correct all the mistakes I made along the way.<\/p>\n

Before scheduling that next meeting or attending that next happy hour, you may want to rethink your time strategy and review the following suggestions in favor of placing a higher value on your time currency.<\/strong><\/p>\n

\"Netflix<\/p>\n

Netflix and Chill \u2013 Think Again<\/strong><\/h2>\n

I am not talking about coffee when I tell you that entrepreneur life is a grind! I don\u2019t care what anyone says, there will never be enough hours in the day, days in the week, or weeks in the month to get everything done on your plate. Working two jobs to make ends meet, being so tired that you fall asleep at your desk \u2013 unless you are just the privileged among us, you must believe in yourself and your idea at all costs. Part of valuing your time is really trying to understand where the time goes!<\/p>\n

Honestly, I have spent hours channel surfing and streaming Netflix, only to say that I have no time for my business the next day. Shame on me! Then, to make matters worse, I end up worrying about not having my work done. Crazy huh? I love the quote \u201cworry is a total waste of time. It doesn\u2019t change anything. All it does is steal your joy and keeps you very busy doing nothing.\u201d<\/em> I don\u2019t know about you, but I have felt stressed out and super busy getting nothing done. What\u2019s up with that?<\/p>\n

I think Gary V<\/a>, love him or hate him, makes a great point about entrepreneurship and time management when he said \u201cyou have made a decision that does not allow you any time, in your first year, to do anything but build your business. No more binge-watching Game of Thrones, slacker.”<\/em><\/p>\n

\"Calculator\"<\/p>\n

Failure \u2013 Opportunity for Success the Next Time<\/strong><\/h2>\n

If my calculations are correct, the next time I fail you\u2019re gonna see some serious opportunity! Wow…wouldn\u2019t it be sweet when you eventually run into a bump in the road to have this kind of optimism? The time cost associated with failure, if you\u2019re not careful, can be exacerbated if you forget to factor in the opportunity costs as well.<\/p>\n

A recent article in INC.com<\/a> got me thinking about time as money in my own business. It argued that \u201cthe key to finding the value of your time lies in finding the difference between what you gained from failure and what you would have gained had you succeeded. For example, suppose a thirty-minute sales pitch wins over potential clients and your business earns $1,000. Whenever your sales pitch is rejected, you have lost more than just thirty minutes of your time. You\u2019ve also lost the opportunity to earn that extra $1,000.\u201d<\/em> Boom, mind blown!<\/p>\n

I don\u2019t say this to stress you out, merely to illustrate the point that your time is more valuable than you might think. Try looking at your time from a new perspective, what are you chicken? For years, with each one of my failures, I kept on doing the same thing I had always done and expecting a different result. INSANITY! Well\u2026entrepreneur life can be bizarre – many times a little crazy\u2026but I digress.<\/p>\n

\"Burning<\/p>\n

Looking Back to the Future \u2013 Time as Money<\/strong><\/h2>\n

Unfortunately, no time machine exists yet that affords us the means to travel back in time. Our time on this earth is limited \u2013 the here and now is all we have \u2013 this moment is our past, our present, and our future. Spending your time currency wisely is just one way to keep moving your business forward. Thank you for taking the time to read this blog post. I hope you found value in it. Your future hasn\u2019t been written yet. No one’s has. Your future is whatever you make it. So, make it a good one.<\/p>\n

It\u2019s common knowledge that Mr. Benjamin Franklin coined the phrase, \u201cTime is Money<\/a>.\u201d I end this blog with some food for thought from one of our greatest Founding Fathers.<\/p>\n

\u201cRemember that time is money. He that can earn ten shillings a day by his labor, and goes abroad, or sits idle one half of that day, though he spends but sixpence during his diversion or idleness, it ought not to be reckoned the only expense; he hath really spent or thrown away five shillings besides.\u201d<\/em><\/p>\n

\"Downtown<\/p>\n

A Premium Coworking Community built by entrepreneurs for entrepreneurs who want to reach higher<\/p>\n

Connect with Us on Social Media!<\/p>\n

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How valuable is your time? 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