Building Your Business, Time vs Money

Building Your Business, Time vs Money

If you are like most people you have an aversion to spending money unless absolutely necessary.  Having said that it is also a reality that most people do not have enough time available to build a business the way it should be built.

Whether it be time or money it is a fact that the less of something you put into your efforts the less you get out of it.  This holds true in business as well as in your personal life.

To start, set down a goal, you have to know where you are and where you are going.  Goals should be realistic and achievable and just outside of your comfort zone.  You need to reach beyond what you know can do, to a point that you want to reach.

Once you have defined your goal you will need to set out the steps needed to reach that goal.  Make the steps firm and definite benchmarks that you can use to verify your progress.  EXAMPLE… 3 months for today, on DATE I will have an income of $AMOUNT per day from weekly ad campaign(s) running in LOCATION(S).

Based on the time and resources you have available to you it is necessary to decide whether it is most cost effective for you to buy the needed expertise to work your business or to learn it yourself.

With money you can hire copy writers, website designers, coaches salesmen and even complete systems to do all the ad and follow up work necessary to build your business. These days two thousand dollars USD can get you started in any number of businesses like that.

Without the money the road is a bit slower and a lot more learning intensive yet no less doable.  Set aside time daily to learn, join forums and ask questions from other business owners.  Acquire the books, manuals and training tools necessary to that learning and in general become the expert you need to be to make it happen.

If both time and money are in short supply a bit of creativity may be necessary as in perhaps you have something or some talent to barter in exchange for help from someone else or in the reduction in the costs.

Think of it like this… 40 hrs a week for 40 years in the hopes that there might be something there for you when you get there.  OR  40 hrs a week at work and 40 hrs a week for your own business for 5 years and a retirement where you set the minimal income per year.

Which would you prefer?