The Daily Grind and Hustle
Do you write a to-do list at the end of each evening of the tasks that you must accomplish the next day? Do you prioritise these tasks into a matrix of important and non-important versus urgent and non-urgent tasks so that they are neatly organised into categories in the time management app on your smart phone? Do you complete the tasks on the list and at the end of the day wonder what progress you made towards your life goals? Do you ever feel that there is not enough time at the end of the day in order to accomplish what you wanted to achieve?
Is there a way to achieve the goals that are in alignment with your values and beliefs more efficiently?
How To Leverage Time In Order To Achieve Life Goals
People who are living life on their terms leverage the time that they have in a day in order to achieve their life goals by delegating tasks to other people. In his book “Think and Grow Rich”, Napoleon Hill tells the story of how he imagines himself being at a dinner party with twelve of his confidants, each of which could bring a different perspective to a challenge he was resolving. He thought of himself as being the leader of a team whose role was to help him solve challenges in the most efficient manner possible. People who are living life on their terms also think of themselves as being the leader of a team whose role is to help them live life on their terms by completing tasks that are not income generating tasks or are directly associated with achieving a life goal.
The first step to leverage time in your favour is to compute your hourly rate of pay. To compute your hourly rate of pay, divide your net monthly salary by four to get the amount of money you earn per week and then divide it the number of hours you work per week. For example, if your net pay was $2500 per month, you earn $625 per week which equates to approximately $16 per hour if you work a 40 hour work week.
The second step is to delegate all tasks that are not income generating tasks or are not directly associated with achieving a life goal to another member of your team. You could delegate the standard chores that most people do i.e. having your shirts laundered at the local dry cleaners, hiring a yard service to mow the lawn or having your groceries delivered. As long as the cost of having your shirts laundered by the dry cleaner or your lawn mowed by a yard service is less than the amount of money it would have cost you to complete the task then it is a worthwhile investment of your money. For example, if your net hourly rate of pay is $16 per hour and it takes you three hours to mow the lawn and edge the driveway, then you are investing $48 in completing the task. If the lawn service company charges $25 to mown the lawn and edge the driveway then its a worthwhile investment of your money.
If you did this, what would you do with the extra time that you had available to you? What income generating task would you complete? Would you invest in yourself by reading self-help books? Would you spend more time with your family or friends? What life goals would you work on during this time? Would it give you a feeling of accomplishment and that your life had a purpose?
The Interest of Time
Most people understand the concept of compounding, which urban legend states that Albert Einstein found to be the most powerful force in the universe. If you started out with a penny which doubled in value every day, after 30 days you would have $5,368,709.12. What some people don’t understand is that time can also be compounded. If you invested one hour a day to read a book that would help you achieve your life goals, at the end of the year you would have 365 hours in which to read books. If the average book takes you five hours to read then you could read 73 books in a year. However, if by reading those books you gained the knowledge you needed to put together an automated e-commerce business which meant that you could work one hour less per day than you are currently working, you have just leveraged another 365 hours per year to work on a life goal or an incoming generating task. In other words, you are compounding time in your favour.
What activity would you complete in the time that you leveraged from delegating tasks to you team that would allow you to leverage more time in the future?
Delegating Tasks Using Virtual Assistants
To really leverage your time your time you could hire a virtual assistant to complete tasks that are not linked to your life goals. Virtual assistants are becoming increasingly popular as they can complete a wide variety of tasks in your personal life and your professional life. They can help you leverage time in your personal life by completing tasks such as running errands, ordering a weekly grocery shop, purchasing birthday and Christmas gifts for family members or booking flights or hotels for your vacation. They can also help leverage your professional life by helping you run your e-commerce business, completing tasks such as receptionist duties, mail management, publishing the content that you provide to them for your blog post and managing your social media campaign.
6 Steps To Leveraging Time In Your Favour
In order to leverage time in your favour complete the following steps:
- Write out your tasks in the evening time that you have to complete the next day every day for for a week.
- Organize your tasks into three categories: tasks associated with life goals, income generating tasks and non-income generating tasks.
- Compute your hourly rate of pay.
- Make a list of people that could complete these tasks for you from a physical location i.e dry cleaners or grocery deliveries and from a virtual location i.e. mail management or managing your social media campaign
- Delegate tasks not associated with your life goals or non-income generating tasks to your physical and virtual assistants if the cost of having them complete the task is less than it would cost you to complete the task.
- Leverage this time by either completing a task that is linked to a life goal or is a income generating task where you are building passive income.
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