Have you heard the phrase “time is money?” I don’t agree. I think time is more valuable than money. Here’s why: You’ll always be able to make more money. However, you can’t get your time back. Because of that, I want to tell you how to make more time while you’re busy making money. In this article, I’m going to show you how to use money to get more time, the value of SOPs in getting your time back, and what you can do today.

 

a watch next to paper and gold money

 

TIME ISN’T MONEY, BUT MONEY CAN BUY TIME

Recently, I was on a golf trip with my buddies in Florida. We were on our way back, and I was looking for an earlier flight. My current flight would get me home by 1 AM, but it was close to Christmas and I wanted to spend the evening with my family. I found one, and gladly traded a couple hundred bucks to get home around 6 PM. I was able to spend time with my family rather than save a little money and spend my time waiting to travel.

Maybe I’m getting a little nostalgic, but these days I value the time I have with my family way more than making (or saving) some money.

According to the Proceedings of the National Academy of Science of the United States of America shares, “Despite rising incomes, people around the world are feeling increasingly pressed for time, undermining well-being. We show that the time famine of modern life can be reduced by using money to buy time.” They also posed this question, “Could allocating discretionary income to buy free time—such as by paying to delegate common household chores, like cleaning, shopping, and cooking— reduce the negative effects of the modern time famine, thereby promoting well-being?”

We think that it does. So beyond using your resources to buy convenience and create more time for what you value, how can you gain more time? In your business, we think SOPs are a powerful way to do this.

 

smiling man training team

 

HOW SOPS CAN GIVE YOU MORE TIME

Picture this: It’s your weekly staff meeting and you’re explaining the sales model…again. Your team takes notes (again). Then, you get a question you’ve answered in the weeks before. Inwardly, you groan. What a waste of time. This is where SOPs come in.

Standard Operating Procedures are a recorded way to train your team. You spend a little time making note of the best way to do things in your business, and then your team can reference it for years to come. This ends the constant re-trainings and repeated questions. Sure, you’re there for your team to help troubleshoot or answer questions, but you have SOPs there as a first point of contact.

The beauty in this is that SOPs can be highly accessible. Cloud-based documents, videos, and tutorials are easy for your team to access anywhere, whether they’re remote or local. A lot of people rely on video these days (thanks social media), so I strongly recommend recording video SOPs whenever it makes sense.

 

three people taking notes on charts

 

START GETTING YOUR TIME BACK

There are some things you can do today to begin gaining time. First, you’ve got a little legwork. Take a look at your schedule and see where you’re spending time you don’t need. For example, are you doing tasks you can delegate? Or, are you trading time to cut marginal costs, like I did when I booked a slightly cheaper flight? These are areas you can trade a little money for to regain time.

Next, create SOPs that your team can use. For 2022, we’re hosting a workshop on January 20th to help you do just that. The workshop registration is free, and just by attending you’ll support Kids To Love. This nonprofit has been working since 2007 to reach over 275,000 foster children, rescuing them and meeting their needs. Get registered here. Can’t make it live? That’s ok, you’ll get the workbook and the replay!

Remember, time isn’t money; it’s more valuable. Start creating more value in your life today!

LEARN MORE:

Business Growth Curator exists to help you grow your leadership, develop your team, and scale your business. Our blogs are just one way we do this! Here are a few other ways to connect with us:

Join Our Email List: Not only will you get these blogs sent directly to your inbox, you’ll get other great resources and first access to our workshops, webinars, and special trainings. Click to subscribe.

Connect in our Facebook group: Our private community of owners has people from diverse industries and backgrounds. It’s a great place to network, share information, and get exclusive trainings every week.

Take our Business Architect Score: Get a free ranking of where your business stands in the six areas we’ve identified as pillars of a great business. Then, decide which area of growth you want to focus on! It will help you move the needle in your business.

 

KEEP READING…

Check out these other blogs from our team!

man with head in hands surrounded by boxes with text overlay 'how to end owner burnout'

END OWNER BURNOUT

It’s a super gloomy, cold rainy day, as I share this, so why am I so excited? Why is my team so excited? It’s progress and momentum! This is what feeds my energy, and the energy of my team, more than even accomplishments do! At the end of the day, we get really excited whenever we’re making progress and feel like we’re getting momentum. It also helps you end business owner burnout. Keep Reading…

architect your passion text over image of man drawing blueprint on graph paper

ARCHITECT YOUR PASSION

Do you know how to architect your passion? This might not be easy to answer, but here are a few key indicators that you aren’t operating out of what you really care about: It takes twice as long to convert in your business, you’re often drained and excited to leave work at the end of the day, or you aren’t reaching your ideal clients. Keep Reading…

a man and a woman discussing something on a desktop computer screen, illustrating care personally and challenge directly

HOW TO CARE PERSONALLY AND CHALLENGE DIRECTLY

The idea of “care personally and challenge directly” was popularized recently by Kim Scott’s book, Radical Candor. Kim worked with Google, Apple, and with Cheryl Sandberg directly. In her book, she shares how to be a “kick-ass” boss without losing your humanity. More importantly, she unpacks how to create relationships that will last a lifetime. Keep Reading…