I track every single minute of my time. I can tell you exactly how many hours I’ve been writing my new book, exactly how many hours I write for this blog, exactly how many hours I dedicate to creating our courses, even how many hours a word branding project takes me, start to finish, on the delightful occasion when I do these—including phone calls, email correspondence, and administrative tasks like sending contracts and invoices.
I do this, not because I bill hourly (I don’t), but because it’s important to understand which time investments are yielding the most gains—and what’s having the most impact on your bottom line in comparison with how much time you dedicate to achieve that result.
This isn’t a “would be nice” kind of thing; it's your responsibility as a business owner. One day you may find yourself broke and not know why, and you’ll need to cut the fat. So how do you decide?
Knowing how you spend your time is just as important as knowing how you spend your money.
You don’t have an unlimited budget of either.