Can you define, specifically, what value your activities bring to yourself and to others? Can you answer the question of why you do certain things, who it will benefit and what you expect the results to be? Are you conscious enough to walk away from a time investment or project that detracts from the value you bring?
I’ve interviewed numerous business owners and business leaders about their activities: how they spend their time, how much time they spend doing this or that, and what they expect to gain from it. I was expecting to hear answers such as, I spend about 3 hours per day doing business development, which might include activities such as calls, working on my internet strategy, blogging or micro-blogging.
Instead, the answers received were quite vague, with responses such as “oh, some time in the evening” or “it varies” or “well, I don’t really know.”
While this might be a common thread for some businesses or business owners, operating this way limits your ability to measure the value of the activity. Examples of measurable activities include:
- Miles per gallon – how far you can go on a single gallon of gas
- Price per pound – allows you to comparison shop, often at a grocery store
- Call ratio – number of calls versus number of connections made
These ratios allow you to determine the value of your purchases.
Your time is no less valuable. Some may say that it is more valuable; you can always make more money, but you can never make more time. There will be things you do in order to receive something so that you can accomplish your goals. There are things that you will do that are totally altruistically – you NEED to do those types of things as well. As with anything, understand WHY you are participating and attempt to achieve maximum value for your invested time. That means have a plan and have a goal.
Think Value Added.
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