The 2 most important things in any business? TIME and MONEY.
Unless you run a non-profit, these 2 factors are the core of any business. It’s a symbiotic relationship – you can’t have one without the other.
And in my opinion, you can’t really call yourself successful unless you have both in abundance.
As a Melbourne business coach, I try to make all my clients see this. Why? Because if you ask me, approaching business decisions with this mentality opens the door to smarter decisions and a better lifestyle.
Money isn’t the be-all and end-all
Money is a means to an end – it allows you to afford your dream lifestyle, whatever that is. However, it should never be treated as an end in itself, especially when a quarter of business owners report not having enough time for themselves!
You might look at your fellow business owners in their fancy sports cars and huge houses and think to yourself “Wow, they’re such better business owners than me.”
While the signs might point that way, you don’t know what’s going on underneath the hood.
- An expensive car doesn’t tell you about their business
- A large team tells you nothing about how they perform
- Revenue doesn’t tell you how much time they have to enjoy it
In my opinion, the mark of a truly successful business owner isn’t the size of their house or the value of their house. Rather, it’s whether they’re living the life they want to live and if their business is helping them get there.
If you spend all of your time working, you’ll probably have the money to afford your dream lifestyle.
However, you won’t have the time! And what good is money if you’re never around to enjoy it?
You’ve probably done it a couple of times yourself – how many times have you thought to yourself “I can’t afford to take a week off because I…”
- Have client meetings
- Need to meet with the accountant
- Keep tabs on how everything’s running
Unfortunately, getting more time isn’t as easy as telling your staff you’ll be taking a week off…
The relationship between time and money
“To make money, you have to spend money.”
I’d like to modify that saying a little bit. If you want to make time, you have to spend money.
Let’s say your ideal lifestyle is to travel the world. You’ll be spending time away from work, so you’ll need to build yourself a business that runs without you.
That doesn’t just happen – you need to set up systems and processes that keep the magic happening. You need to hire staff you can trust to work without direct supervision, and might have to hire a couple of trustworthy managers to oversee things in your absence.
Simply put, you use your money to buy things. And that includes more time for yourself!
How this influences your decision making
Let’s look at an example of this line of thinking… and how business coaching comes into the picture.
Let’s say I’m a business owner – which industry doesn’t really matter all that much.
I’m making money hand over fist. But I have no time to enjoy my dream lifestyle and chase my hobbies (swing dancing, in case you were wondering). And when I step away for more than a couple of days, everything grinds to a halt.
With my distressing lack of time at the front of my mind, I start thinking about ways I can get time back. I isolate my problems:
- I always need to be reachable, even for relatively minor decisions
- My systems and processes don’t allow me to take a step back
- I’m the only one that knows how to do everything
- I’m always hard at work learning how to do new things
- I don’t have any staff that I can confidently trust to run the asylum
Thankfully, many of these problems can be resolved without a Melbourne business coach. For example, you can:
- Pass off some of your responsibilities to the rest of the team
- Hire additional staff to lighten your load
- Train and upskill your team
- Bring on qualified help to look after the things you can’t do myself
Sure, these things cost money. But the time you get back is more than worth it!
And when it comes to the parts you can’t change on your own, a Melbourne business coach might be just what you need.
Business coaching in Melbourne can be a valuable resource if you struggle with streamlining your processes and systems.
More importantly, a business coach can help you break out of deep-rooted habits.I turn business owners into leaders… and a huge part of leadership is knowing how to delegate!
Have you run into a brick wall?
You need business coaching in Melbourne
You mightn’t have enough time for your dream life. Luckily, I work fast – four 90 minute meetings are all I need to set you up for success!
Your typical coach will focus on optimising your business to get more time out of it. They’ll look at your systems, identify bottlenecks and help you capitalise on opportunities.
However, not all of them take the extra step towards translating that money into time.
When you work with me, our focus isn’t just on the numbers. It’s on how we can leverage those numbers to give you your dream lifestyle. I look at what it is you want from your life, and where your business fits in.
That can mean having to make hard changes. It can mean money spent in the name of time. But the return is oh so worth it!