via Dynamic Business

Let’s Talk: Time is money - how & where should business owners spend their time?

The classic phrase ‘time is money’ is one that heavily applies to those running businesses, where every minute has the potential to push a company forward or hold it back. As many will no doubt attest: it can be an arduous juggle.

Focus too much on one area and another can be neglected. Focus too much on the process or the product and you risk neglecting a customer, staff member or business partner. So, how and where can your time be well spent?

"As a business owner, it’s easy to fall into the habit of doing something yourself to get it done within budget. The balance between time and money should be carefully evaluated and business owners need to ask themselves a simple question; which one matters to you most? Undoubtedly, the answer will rely on where you’re at in your business journey.

“For new business owners, time can be expendable for the purpose of building a business up. For owners of established and stable businesses, this belief is often reversed and time becomes the priority.

“At this point, money can be better-spent on training staff, equipping them with the tools to do their job efficiently and investing in the culture of the business. Why? Because all of these elements have the ability to save you both time and money in the future. It’s true, time is money, but remember, time can only be spent."

- Andrew Cornale, Co-Founder and Digital Experience Director, UnDigital

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