- It's not easy to run a successful business and become a millionaire. Yet all of us want to achieve just that.
- There are a lot of multi-millionaires out there who uncovered the secrets of how to manage your time and work as effectively as possible.
- So if you want to become the next millionaire, keep on reading and find out just how exactly to use your time wisely and think like a millionaire to succeed.
Have you ever looked at Multi Millionaires, like J T Foxx for example, with his 50 companies and wondered how on earth he manages it all? I know I have, so I decided to do a little investigating.
Having owned several businesses myself, I know a lot about how you can easily waste time on tasks that could be handled by others. I also have first hand experience in being stubborn and continuing to do what I know others could probably do better, faster and cheaper.
Millionaires know their strengths and they also know where they are best spending their time.
As a business owner, there are many tasks and jobs to do. What is important is knowing where your strengths lie, and where you are best to outsource. There is no point in spending hours in a day on something that you are just not talented in. This will just waste time that could have been spent doing more productive things and achieving more.
I can personally say, that in my 17 years of experience I have wasted countless hours on things that I simply was not good at. The important thing to realise here is that you don’t have to be good at everything. Be prepared to hire people who are better than you. They will get the job done in half the time, and usually, the time you saved is worth its weight in gold.
Also, knowing what the high earning activities are is where you are best to spend your time.
There is no point in spending your time on menial tasks that could be handled by others.
You are the captain of your ship, and so you want to make sure your time is spent where the most benefit to your business is.
Work on, not in
Do you think Millionaires are serving customers on the front counters of their businesses? Answering the phones, doing customer service and other jobs like this? No, they are planning, strategising and spending their time working “On” their business not “In” it.
When you work on your business, you are in a better position to know what it is your business needs and then you can simply implement it.
Working in your business means that planning for your future, planning for foreseeable issues, and planning your time, are simply not an option. If you are bogged down each day, answering phones or doing tasks that others could do, you are unable to grow your business and expand it quickly. This could also result in your business failing much faster as you do your best to juggle things.
Whilst I understand that in the beginning you may have little choice but to do these tasks, the sooner you can offload them, the better. There are many places these days to outsource tasks. Do your research, and find the best option that suits you.
Millionaires have a team of people around them doing all kinds of different tasks, so they can focus their time where it’s needed most - in the planning and strategising.
Getting everything out of your head
Working with a clear head is so very important. If your mind is full of the things you need to achieve in a day, then it is easy for you to be distracted and not focused on the job at hand. Having everything written down also allows you to see clearly where your time needs to be spent, and will stop you from floundering around and wasting precious moments.
Always have a notepad and pen beside you, so when something comes up, you can jot it down. This includes next to your bed as well. Have you ever woken in the middle of the night with an amazing idea or thought on something you have to do only to forget it the next day?
Being prepared and having stuff there to write it down means that important things won’t be forgotten.
Planning and strategising
Millionaires make plans… It’s that simple. To achieve what they want to achieve in their lives, they have plans or roadmaps on exactly how to get there. They take the time to make these plans so that they know exactly what steps they need to take to achieve the goals they set for themselves.
Some millionaires do it on a whiteboard. This way they see it every time they pass the board and then they know exactly what it is they must achieve by a certain date or by a certain time period. This allows them to make the best use of their time, as they know exactly the steps and activities they need to take to achieve their goals.
Without a clear picture on what you need to do to reach a certain goal, you can’t be 100% certain and know exactly what it will take to get to where you want to go. This could mean that you waste valuable time doing things that don’t really need to be done. And it may also mean that you never reach your goal and achieve what it is you want to achieve.
Tony Robbins has developed a Time Management System called “The Time Of Your Life.” This is a 10-day program that teaches you how to use your time in the most efficient manner. The Time of Your Life is a 10-day program designed to help you create more time for what truly matters to you. Using the scientifically-proven Rapid Planning Method (RPM), you will learn the strategies Tony uses to manage dozens of businesses, his personal relationships and his strenuous schedule on the road. It includes such things as grouping items together, making decisions on what’s most important, delegating and prioritising.
How do millionaires spend their time wisely?
These are the things all millionaires do.
- How many things on your to do list can be “Chunked” together
Let’s say, for example, you have several errands that need to be run in town. The places you need to go to are relatively close, so it would make sense that you’d do them all together, wouldn’t it?
- Another example could be that you have 20 phone calls to make
So, you’d have all the information you needed laid out in front of you and you’d do “An Hour of Power” and get the phone calls made. This is a very efficient use of your time that also saves energy.
Deciding what is most important in your to-do list is vital.
If you do not know this, then you could find yourself doing things that really don’t matter. This could mean that the really important things that you needed to do, simply don’t get done. This could mean lost income, lost opportunities, and worst of all, lost customers or clients.
- Millionaires are experts at prioritising their days, so they know exactly who, what, where and why they need to be somewhere, or do something. There is no question that their days are planned out meticulously, making sure all things that must be completed are, and that everyone they needed to speak to, or consolidate with, is also achieved.
- Another “trick to the trade” is breaking down big goals into daily tasks. If you take the time at the beginning to break down all the steps that need to be taken to achieve a goal, then you’ll make the best use of your time by only doing those activities that get you to where you are wanting to go.
Some Millionaires I know spend up to 3 hours on a Sunday evening planning their weeks out fully. They have all their appointments sorted, and their tasks written out into details for each day. They have these tasks timed, so they know exactly how long they should take them to complete. They stick to this because they know that it's what will ensure they get the most out of every day.
Their whiteboards are loaded with the goals they want to achieve in that week and they are ready to go on Monday morning with a clear head, a clear vision, and a fully planned calendar. This allows them to achieve all they wanted to in their days and weeks and ensures that their goals are met.
The moral of the story
Above I’ve given you many ways to use your time as the Millionaires do. If you implement and follow these guidelines above, you’ll soon find yourself working much more efficiently and getting things done faster. You’ll be able to achieve more in your day, and really start running your business as it should be run.
Following these points above is sure to give you a much clearer idea of where you are headed and where you need to go. Simply by knowing your strengths and knowing where to best utilise your time will make a massive difference in your business and probably your income as well.
It will help you reduce stress too, because you’ll be achieving more and reaping the rewards of having a clear plan in place. Floundering around with no clear direction will not allow you to reach your goals and will only cause you more stress as you forget to do what you need to do and potentially miss important things that will make your business flourish.
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