All posts by Amanda Abella

How to Create A Time Budget (And Stick to It)

By | Maintenance, Time Management | No Comments
When most people hear the word “budget” they think of their finances. It makes sense because money is a resource that needs to be managed. However, your time is a resource too. In fact, I would argue your time is even more valuable because you can’t get it back. That’s why it’s important that you also create a time budget for your life.

What is the purpose of a time budget?

I like to think of a time budget as a guideline that helps you spend your time the way you want to spend it. Granted, sometimes there are things we don’t want to do – like go to the dentist or pay taxes. But, for everything else, it’s important that we find time for the things that matter to us. For most people that looks like relationships, health and their careers. The only way to do this is to manage our time wisely and with intention.

How do you create a time budget?

The first step is already done – which is to determine what matters to you in life. The next step is to figure out what each of these important things looks like. Remember, your time is a limited resource so it must be used wisely. Let’s start with career since that takes up a lot of our time each week. What does being intentional in your career look like? What tasks will actually move you forward with your goal? What tasks are a waste of time or cause you to move backward? When do you stop working each day. The last one is especially important because you have other areas of your life that matter to you as well. Chances are you didn’t go into business for yourself to work all the time, especially because many people crave work life balance. Once you determine when you work, you also need to determine when you do other things. For example, I go to a fitness class on Mondays and Thursdays. I also dedicate weekends to friends and family.

How do you stick to a time budget?

In order to stick to your time budget, you need to have certain things in place. Just like you use apps and boundaries for finances, you also need them for your time. Here are some things that will help you stick to your time budget:
  • A calendar application. Let’s be real, if something isn’t on your calendar it doesn’t actually exist. Furthermore, a calendar application can help you time block tasks and activities. It can also let others know when you’re not available.
  • Very strong boundaries. People will take advantage of your time if you let them. That’s why it’s up to you to have very strong boundaries. Don’t hand over control of meetings and learn how to say no. Otherwise, you give away too much of your most valuable resource.
time budget is just as important as a budget for your finances. Both resources need to be managed to the best of your ability for a balanced life. It’s up to you to determine how you want to spend your time and protect it.
Originally published here.

3 Common Time Wasters for Your Business

By | Time Management | No Comments

I often coach business owners through the best ways to use their time. It’s too often that they come to me having an idea of what they should be doing, only to find out most of their tasks are time wasters. I understand why people are confused. They think that certain things like spending your time on social media lead to money in the bank. They also think their email will catch fire if they aren’t logged into it all the time. I get it because I get caught up in it too sometimes. However, there comes a time when we need to get rid of the time wasters in our businesses. This starts by determining one main thing: What actually leads to money in the bank? Everything else comes second. That being said, here are the most common time wasters in your business.

Social Media

This may sound strange coming from someone who uses social media marketing, but it’s a time suck. More specifically, social media channels are time wasters when you don’t know how they fit into a marketing plan. For example, spending your time on Facebook looking at memes is a waste of time. Posting on Instagram with no call to action is a waste of time. Posting random stuff that doesn’t drive traffic or build your email list? Also, a waste of time. On the other hand, if you know how to use social media as a part of your marketing funnel, then it’s worth spending some time on it. You may even want to consider outsourcing this important task to a marketing professional. Just because it can lead to money doesn’t mean it’s the best use of your time.

Meetings

Most meetings are time wasters. There, I said it. Let’s be honest, how many times have you sat in a meeting that could have been an email? Or how many times did a meeting run longer than it had to? How many times did a prospect waste your time with meetings that went nowhere? Probably several times. This is why I say to avoid meetings if you can. At the very least, avoid having meetings in-person since you have far less control over your time.

Email

Similar to meetings, emails are time wasters too. This is especially true if you have a busy inbox. Unfortunately, most people treat their inbox like a to-do list. When something pops up, they handle it. The problem is this takes time away from important tasks that can move your business forward. For example, you need to create a new service offering but your time is being spent on email correspondence. One way to fix this is to hire a virtual assistant who can handle email communication for you. They may not be able to handle everything, but they can at least sort through the unimportant stuff so you don’t have to.

Final Thoughts

The ironic thing about these common time wasters is people think they need them to make money. This is only half true. There’s a difference between efficiently using these things and wasting your time. Once you figure out the fine line, then it becomes easier to stick to the important stuff.


Originally published here.

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