One of my business coaches is James Malinchak. His primary work is to show people how to make big money as a public speaker. He was also the face of the ABC series, Secret Millionaire. The following article is based on something he recently sent out to me and reflects my same values.

His email was about a four-letter word to reduce overwhelm in your business, and it is not the one you’re thinking of. The word is time.

If you recall in my series on the attitudes of the wealthy, they value time over money. You can always make more money, but you cannot make more time. Are you using your time in unproductive areas like learning how to build your own website, typeset your own book or clean your house?

To have more time you can delegate, outsource or hire. An expert can build your website faster. Someone who typesets books for a living can do it better and have it look more professional. And if you are cleaning your house instead of making marketing calls, you are really in need of a mindset shift.

James has a group coaching program, does one-on-one consulting, leads 4-day speaker boot camps, delivers corporation keynotes and speaks on other stages. He has constant interviews for various media and still takes off 2-4 days per week plus two vacations per year to re-charge (another attitude of the wealthy).

How does he get all his work done and still take off all that time?

He asks himself a powerful question when it comes to how he uses his time:

“Is this business activity that I’m thinking about GIVING my personal time to going to attract new business or help to keep existing business?”

If his answer is no then he is not giving his personal time to it…period! He will delegate the task to someone else! You should constantly be checking and rechecking to make sure you’re not choosing to allocate your time toward activities that aren’t income producing. Make it a top priority to monitor how you choose to spend your time.

And in another post I wrote about in the past I covered this topic as well: James will do nothing that he can pay someone else $10-$100 per hour to do for him. You may adjust that hourly rate for yourself, but you should be operating with the same attitude.

Your business will thrive and grow when you contemplate how to use the four letter word; time.

To your prosperity,