The Importance of Investing Time in Your Business

The saying you have to spend money to make money is a very true statement. You need to be willing to invest in your business for it to grow and thrive. This investment, however, is more than just monetary. A successful business takes an investment of time, energy, money, resources and commitment. The most well funded project or business will fail if it is lacking a good investment of any of those elements. In this article we are going to discuss the investment of time, its importance to your business and how you can leverage it effectively to get as much return on your time investment as possible.

The investment of time has three aspects: your personal time involvement, your patience and your ability to be flexible. Your personal time refers to the personal time you are willing to spend on your business. Some people have no problem with this aspect. They are thinking, planning and involved in their business from the time they wake up to the time they go to sleep. Many of us even dream about our business and keep a note pad on the night table for any late-night eureka moments. Others are only willing to invest an average amount of time in their business. They will do what needs to get done and spend only the needed time to accomplish it. The last category, which is surprisingly the largest, are those who think the business can run just fine without them. These are the CEOs you see on the golf course five times a week who only stop in the office to check their mail and leave their BlackBerrys and iPhones in the car. These people invest as little effort as possible in their business and claim all their time for themselves. There are a few people who can still be successful with minimal time investment, but most become so out of touch with their business that it runs away and fails before they get to the 9th hole.

Patience is also a virtue in business. You must be willing to pursue a prospect, sale or project from start to finish no matter how much time it takes. Your brightest star in your down line may be someone who took longer than normal to join you. Your marketing may take time to get the results you are looking for. You must be patient and you must be willing to commit to see it through to the end. If you are considering giving up early on a prospect or a marketing campaign, you must invest more personal time in either researching if this is the best decision or in finding out what went wrong. The proper information, history, reports and tools when doing either will make a big difference between leveraging your time and wasting your time.

You must be as flexible as your business. If your business is not flexible to your customers, economic fluctuations and anything life can throw at you, you need to change your business model. In a market flooded with businesses and opportunities, only the flexible survive. You must be available when your business needs you. You must also be willing to change as the market changes. If your business competitors are going digital and offering online options, you can’t stay ingrained in a hard copy business method.

There are ways to leverage your time effectively so that you can invest the time needed, be flexible and even gain patience when working with marketing strategies or prospects. The first thing you need to leverage your time is the correct tools. These tools need to be easily accessible, there when you need them, easy to use and they need to be as flexible as you and your business are. You should seek out a software package online that includes an email system, a calendar and a place to store and manage your contacts. The benefit of having your system online is that it is globally accessible, and with today’s portable internet devices you can easily take your office with you on the go. With a centralized online virtual office, the golf-course CEO can be just as powerful as the CEO who sits in the office all day.