Time is the most precious resource and should not be wasted on doing trivial things. Don’t be penny wise and pound foolish. One cannot do everything on his own. Robert Kiosaki self made billionaire who has tutored millions of people around the world has mentioned in his book, ‘Rich dad, Poor dad’, to be system centric rather than individual centric. Spend money, save time. Leverage on other people’s time and skills and build your business, your system. If hundred people work for you for ten hours a day then you have thousand man hours in a day that too a consortium of skills in different fields. Can you work 1000 hours a day? I believe not!!
So how many hours can you yourself work in a day? 10, 15,20? I bet not more than 24 hours.
So work on the principle of delegation and have horses for courses. Learn to outsource your work, get it done through experts and market it.
People are often short sighted and go for short time gains neglecting long
term benefits. They sacrifice fortunes because they are not able to envision or strategize properly. Learn from the example of Kingfisher who went bankrupt due to its practices where as Patanjli outsources its production. It does not manufacture everything on its own. It outsources manufacturing, gets the products and markets them under its brand. This is how it has become such a successful enterprise in such a short duration of time. However, one must also know what to delegate and how much to delegate? Excessive delegation is also not good for the business and being hands on for everything is also not the right strategy because you can’t do everything on your own.
Read this article – Don’t be too available
You need to learn from the European and American companies that outsource their products to India. Today, we have thousands of BPOs and KPOs to employ our work force to deliver their services. Yes, they are spending lakhs in outsourcing but in turn are making millions for themselves by saving on numerous expenses involved in maintenance and infrastructure.
Thus, save time and don’t get involved in everything yourself. Optimize your time. Also, if you do trivial things yourself you would de-edify yourself. You need to create a value for yourself. The rich love money, still they expend money to employ so many people as they are not penny wise and pound foolish. They create a brand for themselves. They are not easily available to everyone. They can concentrate on core issues when their routine issues are taken care of. By employing a driver if you can conduct video conferences in your car and help your business then you should have a driver. Don’t think of driving yourself to save that driver’s salary.