📄 Should you spend time, or spend money instead...? 🤔
“I can spend a little time here, and save some money there”.
This is a mindset that can easily keep your business stuck in mediocrity.
Your time is a limited, scarce, and highly valuable resource.
And when you spend, say, a month building a website, so you don't have to pay $5000 to a developer, you’re ignoring the best practices that enable your competition to grow and scale up.
Because if building that site takes you 160 hours, and you normally charge $100 per hour, and if dedicated work on filling your calendar can bring you 20 hours of paid work per week…
Then you spending 160 hours not filling your calendar, means you’ve effectively lost $3000.
You’ve foregone earning 8K, just so you could save 5K. Ouch.
And, be honest:
Most of the time we choose to spend time in order to save money, we miscalculate and spend way more time than we thought we would.
Not only that:
Taking on a project that’s not 100% in your Zone of Genius (see: Gay Hendrix’ The Big Leap) inevitably takes up far more mental real estate than you can afford:
Learning, thinking, figuring out why something isn’t working, Google searches, yet another PDF to download, another instruction video to watch on Youtube.
Doing the kinds of things that cost time and save money, is usually an enormous time-sink.
So your net loss, for building your own site, is likely way more than the 3K mentioned above, if you include soft costs and secondary costs.
All because of sloppy thinking: penny-wise, pound-foolish.
If you want to grow your consulting or coaching practice, and help more people and earn more money, you need to think differently about your time, decisions, and investments.
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