Benchmark Business Group

Investing Your Time

October 1, 2019

“Would you give your clients access to your bank account?” When we ask clients this, we always get a very strong and sometimes bewildered, “No.”

On the surface it looks like a silly question. Money is a resource that in this industry we actively work to protect and maximize. Of course, we would protect it.

Yet, money isn’t the most important resource we have. There are several ways to invest, save, and multiply our money. Time on the other hand is one resource that we can’t save or multiply.

There are only so many hours in a day. You can control how much time you spend within your business, but this doesn’t create more time. It simply means you have less time in other areas of your life.

Instead, the goal is to look at how you control your time and invest it wisely. When we ask clients the follow-up question, “Would you give your clients access to your calendar?” The answer is often yes. If a client needs to meet, we make it work. That’s service, right?

Yes and no. You are in a service business. Your business does need to provide great service and meet with clients. However, your calendar is the bank account for your time. You can and should be controlling withdrawals from your calendar as closely as you monitor your bank account.

Just like money, there are multiple ways to invest your time. The key is to step back from your day-to-day routine and look for ways to design your time. When our business coaches do this with clients we often find:

  • Service takes over - Service can be a monster, but it doesn’t have to control your time. With a few guidelines, a new way of thinking, and systems, you can protect your time from being consumed by service.
     
  • Interruptions are allowed - In this industry especially, interruptions are seen as something that can’t be avoided. It doesn’t have to be this way. Working to implement do not disturb time is a power booster to making the most of the time you have in your business.
     
  • You’re too busy to plan - You’re already behind. There’s no time to plan. Stop and think about what you tell clients who use this reason not to meet about their future. Yes, it takes time to design your time, but it’s a necessary investment of your time.

How you view time matters. What we know is that successful financial services professionals are masters of their time. They control their time and calendars as closely as they do their bank accounts. We also know that it’s easier said than done. There isn’t a switch that you can flip that will suddenly give you control of your time. However, there are best practices that you can easily implement for yourself and your team.

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