All Time Shouldn't Be Valued Equally feat. Pete MohrMay 10, 2022
How are you valuing your time in your business?
Are billable client hours valued higher than the time you spend answering emails or doing the books? If so, this is what Pete Mohr, business coach, entrepreneur, and the host of Simplify entrepreneurship podcast, had to say.
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Mickey: If you could give entrepreneurs one piece of advice, what would it be?
Pete: One of my coaches, Dean Jackson, has this great saying, “there are only 24 hours in a day. You can't buy more, and you can't use less.” So think about the 24 hours you have and ask yourself if you’re using them wisely.
So many entrepreneurs discount what their time is worth–their hourly rate. If you're a Chiropractor or a Physiotherapist and you're billing at your hourly billable rate, $50 an hour or $100 per hour, whatever it is, you need to value all of your hours at that rate, not just your billable client hours.
It's not worth it for me to spend a lot of time on the sales floor. Spending 40 hours on the sales floor selling shoes is not a good use of my time. Think about the best use of your time and start honing in your business to make the maximum profit with the right process. Employ the other people to do the other things, so you're delivering the right product or service that is aligned to the problems your customers have. Your business will start to run on the rails when you do that.
Listen to the full interview:
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