We live in a culture that seems to reward ridiculously high levels of speed and production.
The question I would challenge you on is do you have to be moving at a frantic pace in order to be productive?
I’ll be honest. This is something I struggle with. I’m a fast talking New Yorker and I feel like I don’t have time to wait. I want to get it done.
However, I know from experience that this comes at a cost.
If you’ve been in this industry as long as I have, I’m sure you know what burnout looks like. And it’s not just physical. Mental and emotional burnout can be even more taxing than the physical kind.
Of course there are times (especially early stages or big transitions) when every entrepreneur needs to spend some extra hours at work. However if this is your long-term strategy, I’d challenge you to re-evaluate.
You see studies show that while there may seem to be a very select few who seem to be able to get by on just a few hours of sleep, we all have only so many focused hours in us per day.
It’s not just productivity that suffers either. There are financial implications to living maxed out and stressed out.
Think about the times when you made some of your worst financial decisions. Maybe you bought something you really couldn’t afford or didn’t really need. Or maybe you made a poor business decision which resulted in a financial setback. Were you completely relaxed and thoughtful before making that decision? Or was it hurried?
Many fitness pros undervalue the process of thinking. It’s easier to be busy and not have to deal with underlying things. Successful fitness pros know that they need time and space to think. Super high level businessmen (e.g. Warren Buffet) spend most of their day thinking. You might be saying, “If I had billions of dollars I’d spend all day thinking too.” I hear you but there is a ton to be learned from that practice.
How to Get More out of the Time and Money you Have
Ever notice how much you get done the day before a vacation? You know you only have a few hours so you make sure you get the most important things done.
You don’t have to go on vacation to apply this principle. It all comes down to planning.
Most entrepreneurs think they have to work on nights and weekends. I recently started a practice of not doing any kind of work (paid or unpaid) for a full 24 hour period each week. My production didn’t go down one bit because I just make sure I get done what I need to before that 24 hour period starts.
The same goes for your finances. There are people that have made 25K per year and became multi-millionaires andthere are people that have made millions only to wind up broke.
It’s more about what you do with the money you have than how much you make.
In fact, when I climbed my way out of 6 figures of debt, my personal income was less than what I was making when I got into debt.
Increasing revenue is certainly important but it won’t magically eliminate your financial problems. If you’re spending everything you’re making now, chances are you’re spending will go up with higher revenue and any potential profit will be offset.
What’s one thing you can do today to get more out of the time and money you have?