Are You Making Wise Decisions About Your Business?

Most soap businesses are one-person operations, or at least they are at first. When it is just YOU running a business, being thoughtful about your time is CRITICAL.

We all have 24 hours in a day. No more, no less. Each day must allocate time for sleeping, eating, rest, care of loved ones, hobbies / exercise AND your business.

The expression "make time for what's important to you" is a little misleading. You CANNOT actually 'make' time - you simply allocate the limited time you have to the activities that you decide are most important.

You can 'make' money though. Literally - you can earn $100 one day and $1000 the next. That is actually possible.

Considering that you CAN actually generate additional money, but can NEVER generate additional time, which makes sense?

1. Choices that require time but save money
2. Choices that require money but save time

When I first started my business, I was scared of many things. One of my biggest fears was that if I made a bad financial decision, my business would fail. So, I sought every free training, webinar and DIY guide I could find.

A few of those were helpful, but most were not. I wasted an extraordinary amount of time trying to figure out everything on my own. I don't have regrets because I did not know of another option, but I often wonder how much more quickly I could have grown if I were not so worried about spending money.

Ask yourself these questions when you consider choices about your business:

❓Am I trying to save money by spending time solving this problem on my own?
❓If I invested money in the solution, would that save me time and get me to my goal faster?

This is how big businesses scale their production. They invest in equipment that automates steps in their process. They understand that spending money now saves them time, which ultimately is the key to earning more money.

If growing your business is a priority for you, what asset are you most focused on protecting? Your time - which you cannot earn more of? Or your money - which you can earn more of?

If you would like to talk about this idea, and how it applies to your business, let me know. Learning how to think like a successful business owner is a process we all must go through, and it is not an easy one.

Here is the link to my calendar if you want to talk about this one-on-one.

https://meetme.so/MollyElmore