Good focused time choices make you more money – without working longer hours.
You’ve probably heard that you can’t actually manage time.
So you know the key to making more money in less time is about the choices you make.
If you focus on the right things you’ll make more money and have a life.
Opportunity cost is the benefit you miss when you choose one alternative over another.
If your hourly rate is $300 per hour, and you spend an hour doing a task that you could have given to an administrative assistant, or virtual assistant, who charges $25 per hour then your opportunity cost is $275.
The decision to ‘save’ the $25 actually costs you 12-times what you saved. That’s opportunity cost.
When you decide to take a client at a lower rate, or who can’t pay you what you are worth – that’s opportunity cost.
If you decide to take a case as a ‘loss leader’ and the path to when revenue will come is not clear then you’re having opportunity cost.
Make the choice to invest in yourself and your practice.
Focus on activities that require your special expertise – things that will make you money or increase your capacity to make money.
How will you invest your time this week?