TIME – your most valuable asset – If you lost your life savings you could always make some more money; but, if you waste even a minute of your life, you’ll never get that time back. You’ve got to INVEST rather than SPEND your time. As an owner of a business you’ve got to be certain that every activity you undertake, every job you do, every minute of your working day is invested in doing something that only YOU can do. Always ask yourself this question – “What will give me the best Return on Investment for my time?”
Cost reduction versus income growth. – So many business people focus their whole life on cost reduction. Working long hours just to save a wage, cutting costs just to make ends meet. Now keeping costs down is still one of the most important areas of business but, if you really want to grow your business you’ve got to put more of your time into income generation than you do cost cutting. Remember, if you were to cut your costs by as much as you possibly could and still leave your company running, you’d probably only add about 10 or 20% to your bottom line. Yet through building your income, the bottom line is limitless.
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