Are You Strategic with your Time and Money?

timeDid you know this is one of the most successful traits of a successful business person? They understand the importance of BOTH time and money, and know how to use them to a full advantage.

Let’s look at the time element.

Are you consistently putting yourself in the room with the same people week after week, but not seeing any results?

Consider this: what if you’re in the wrong room?

Networking with the same people week after week does not expand your business. There are benefits to coffee talking with a team of folks who you find supportive and resourceful, but business building is not one of them. Ask yourself, what is the ROI (return on investment) of the 5 hours a month you spend networking? Is it worth it?  Perhaps, but understand that you need a purpose for being in the room with these folks in order for that time to be productive.

Once you understand the value of time to your business, ask yourself why are you performing the same actions each week and not receiving the results you are seeking?

The answer is, you’re settling.

I challenge you to look at your schedule and how you’re spending your time. What is the purpose for being in the room with the various different networks that you’re choosing?  Are you there to educate yourself and learn something new?  Are you looking to expand your client base?  Are you a rookie who is just getting started and you’re looking for a place to ‘practice your pitch’ and get feedback?  Get clear on how much time you’re spending on this.  If it’s not paying you the returns you are seeking, it’s time to get out of the room!

Let me be clear, I am by no means discounting the power of networking. There are many different types of groups and events out there, all valuable for specific reasons. The trick is to understand what YOU want, and where to find it. If you are out to be successful, close business, and/or grow your gains look to those types of events and opportunities that will make that happen for you.  By the end of the month you should be able to track on paper what the five hours a month you’re spending is doing for your bottom line. Are your actions valuable?  How do you feel about your strategy concerning time (and money)?

As always, I enjoy hearing how you’re approaching and expanding your business so please share with me in the comments section below.

Ignite Your Success!