I am constantly studying the most successful business Minds in history. A common denominator I have found is that at some point in their career they implemented good accounting systems. They knew every dollar in and out of their business. They knew when they needed more money, and when they had extra to invest. And even more so, they focus their time and energy on the right projects. One can say they had good accounting of time. It is important to consistently be measuring your time. Everything takes time. Some people look at to do list and figure that something's don't take time. Everything takes time. Even if it's just responding to an email, that's one minute. Maybe two minutes. And if you have to respond to 15 emails a day, that could be half hour. When you're presented with an opportunity, make sure you are counting your time as well as your money. If a project pays you $10,000 and the cost is $5,000, did you account for how much time it took you to close the deal? What about the time it took you to follow up with the client after? Do not dismiss a 15-minute conversation after the project is done as something that did not take a time. It took 15 minutes. If you had a hundred clients, you do the math! That's a lot of time. Time is money! Time that is misspent could have been spent making you more money. Money that is misspent could have been buying you more time. Account for both diligently.
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