Time is Your Only Limited Resource - 5 Ways For You To Use It
As I get more and more involved with Internet marketing, I'm realizing a very important
concept - that time is the only truly limited resource. You can always make more money
without limit but times is something that you cannot collect, turn back, or gain. No matter
what you do, there will always be only 24 hours in a day.
Of course this is relevant to life in general, but it is especially important to Internet
business where we try to do everything and anything to make money online. Are you
making the most of your time?
Lately I've been running into this issue because I simply have too much on my plate. Just
to name a few: a full time job at a top SEO agency working for demanding clients, a
frequently updated Internet marketing blog, an affiliate marketing competition with Tyler
Cruz, multiple web projects in the works, added features to Winning the Web, numerous
online properties, a few hobbies, a girlfriend, and time with friends. As you might expect,
life can easily get chaotic and unfocused.
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I think it's important for all Internet marketers and entrepreneurs to realize the
importance of time as a limited resource. We often get caught up with monetary costs and
try to do everything ourselves - even as the clock ticks away and opportunities are
I want to go over with you some effective tips to make the most of your time as an
Internet marketer. As you'll see, time does not necessarily equal money.
1. Learn effective time management
First of all, learn some basic time management skills. Many people struggle with laziness
and poor time management and lack efficiency in what they do. Don't be one of them.
What separate the winners from the losers are a solid work ethic and an extraordinary
ability to get things done. Create a schedule for yourself with clear set goals. This way,
you're more likely to be productive with your time and maximize your potential. If you
need more guidance on this, head over to Amazon.com and pick up a book on time
2. Remember the 80/20 rule
The Pareto principle (or 80/20 rule) states that 20% of your activities yield 80% of your
results. This is especially true in Internet business where just a few of your efforts lead to
your greatest sources of revenue. So why not focus on the 20% that works instead of
wasting time spinning your wheels? Of course it may take a little experimentation to
figure out what actually works, but there are a few obvious activities that won't ever
make you money by themselves: reading blogs all day, making plans but never executing,
networking online via social media, and checking analytics, income stats, and email.
Know what your most effective efforts are and be sure to spend the most time there.
3. Focus on your strengths, outsource everything else
As an Internet entrepreneur just getting started, you may be tempted to try and do
everything by yourself - site design, marketing, site copy, blogging, etc. Although this
may be a good learning experience in the beginning, you definitely cannot afford to be a
"jack of all trades" forever. Your efficiency will go down, you'll drive yourself nuts, and
your sites will suffer. Choose something you're extremely good at, stick to it, and
outsource everything else. For example, if you're a great marketer but can't write for
beans hire a blogger and spend all of your time and effort promoting. You'll be amazed at
how far you can go with that strategy.
4. When possible use money over time
You've probably heard the saying that "time is money". But is it really? Like I said, you
can always make more money, but you can't manufacture time. Knowing that, would it
make sense to spend a couple hours trying to save $10? $50? $100? A philosophy that I
am trying to adopt is that it's more efficient to spend money than it is to spend time -
especially when running an Internet business. For example, rather than collecting data
manually yourself, buy or build a tool to automate the process. Similarly, if you can
afford it, buy a site in your niche rather than starting from scratch. Time > money.
5. One project at a time
Another struggle I have with time is simultaneously starting more than one project. I get
way too ambitious and think I can do a lot more volume than what I'm physically and
mentally capable of. Because of this, many of my projects turn out mediocre and suffer
from lack of care and attention. In order to combat this limitation, I suggest working on
just 1 project or venture at a time. That way, your work is more likely to see success and
you won't spread yourself too thin.
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