Vu CPA | Online Chartered Professional Accountants, Canada
Online Chartered Professional Accountants, Canada
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Straight off the press

Invest in Time

Most people go into business because they dream of a future for their family and themselves, a dream that they can control. Dreams come from passion.

But the reality of business is that its hard. Nothing you learn in school or through work experience can prepare you for that.  

There a lot of online articles implying that to run a successful business you need 4 things:

1.      Product/service

2.      Knowledge

3.      Customers

4.      Money

Most businesses start with an idea, which turn into a product or a service. These products/services, most of the time, come from your passion. You could have the best product/service in the world, but without the knowledge of your market and how to reach them, you’ll have no customers because no one will know the product/service exists. With no customers, there is no money and every business is only sustainable if it is profitable. 

Most businesses have all four of those things, but they’re not profitable or maximizing their profit potential. Why?

Time

There are 86400 seconds in a day. Time is a business owner’s most valuable asset, yet is often wasted and spent rather than invested.

You could have the best product/service, have market knowledge and customers to sustain your cash flow, but without time, you cannot properly service current and new customers.

So how do you decide how to allocate your time? What should you spend your time on?

This may sound cliché, but spend your time doing the things you love, after all, it’s the reason you are in business.

Outsourcing some of your business needs is an investment of your time. Why not invest your time and outsource the tasks that you don’t enjoy?