I always struggled with this concept of time equals money.
I suppose in an investment sense, where compound interest and capital growth exist, time does equal money.
But the saying doesn't fit everywhere.
I have another saying:
Activity equals money. (Warren Buffet seems to agree as you'll see in the video at the end of this message.)
And some activities are worth more money than others.
Take prospecting for new business as an example. If every hour spent prospecting yields two qualified leads and each qualified lead is worth $200 to my business then my activity value equals $400 an hour.
So prospecting is a $400 per hour activity.
If I close new business with one in three potential clients who meet with me for one hour each ... and if the average new project is worth $9,000 ... then ... my activity value for potential client meetings equals $3,000 per hour.
If 5 hours are required by admin to administer a $9,000 project ... and I pay an admin person $25 an hour, the cost of admin per project is $125. Admin carries a $25 per hour activity cost.
I think you get the point.
Activity equals money. And some activities have a higher dollar value than others, depending on the value each activity brings to the bottom line.
What activities do you spend your time on? And how much are those activities worth? Can you spend more time on higher value activities and delegate other activities to someone who will accept a lower activity cost?