Time is Your Only Limited Resource – 5 Ways For You To Use It Wisely

As I get more and more involved with Internet marketing, I’m realizing a very important concept – that time is the only truly limited resource. You can always make more money without limit but times is something that you cannot collect, turn back, or gain. No matter what you do, there will always be only 24 hours in a day.

Of course this is relevant to life in general, but it is especially important to Internet business where we try to do everything and anything to make money online. Are you making the most of your time?

Lately I’ve been running into this issue because I simply have too much on my plate. Just to name a few: a full time job at a top SEO agency working for demanding clients, a frequently updated Internet marketing blog, an affiliate marketing competition with Tyler Cruz, multiple web projects in the works, added features to Winning the Web, numerous online properties, a few hobbies, a girlfriend, and time with friends. As you might expect, life can easily get chaotic and unfocused.

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I think it’s important for all Internet marketers and entrepreneurs to realize the importance of time as a limited resource. We often get caught up with monetary costs and try to do everything ourselves – even as the clock ticks away and opportunities are missed.

I want to go over with you some effective tips to make the most of your time as an Internet marketer. As you’ll see, time does not necessarily equal money.

1. Learn effective time management

First of all, learn some basic time management skills. Many people struggle with laziness and poor time management and lack efficiency in what they do. Don’t be one of them. What separate the winners from the losers are a solid work ethic and an extraordinary ability to get things done. Create a schedule for yourself with clear set goals. This way, you’re more likely to be productive with your time and maximize your potential. If you need more guidance on this, head over to Amazon.com and pick up a book on time management.

2. Remember the 80/20 rule

The Pareto principle (or 80/20 rule) states that 20% of your activities yield 80% of your results. This is especially true in Internet business where just a few of your efforts lead to your greatest sources of revenue. So why not focus on the 20% that works instead of wasting time spinning your wheels? Of course it may take a little experimentation to figure out what actually works, but there are a few obvious activities that won’t ever make you money by themselves: reading blogs all day, making plans but never executing, networking online via social media, and checking analytics, income stats, and email. Know what your most effective efforts are and be sure to spend the most time there.

3. Focus on your strengths, outsource everything else

As an Internet entrepreneur just getting started, you may be tempted to try and do everything by yourself – site design, marketing, site copy, blogging, etc. Although this may be a good learning experience in the beginning, you definitely cannot afford to be a “jack of all trades” forever. Your efficiency will go down, you’ll drive yourself nuts, and your sites will suffer. Choose something you’re extremely good at, stick to it, and outsource everything else. For example, if you’re a great marketer but can’t write for beans hire a blogger and spend all of your time and effort promoting. You’ll be amazed at how far you can go with that strategy.

4. When possible use money over time

You’ve probably heard the saying that “time is money”. But is it really? Like I said, you can always make more money, but you can’t manufacture time. Knowing that, would it make sense to spend a couple hours trying to save $10? $50? $100? A philosophy that I am trying to adopt is that it’s more efficient to spend money than it is to spend time – especially when running an Internet business. For example, rather than collecting data manually yourself, buy or build a tool to automate the process. Similarly, if you can afford it, buy a site in your niche rather than starting from scratch. Time > money.

5. One project at a time

Another struggle I have with time is simultaneously starting more than one project. I get way too ambitious and think I can do a lot more volume than what I’m physically and mentally capable of. Because of this, many of my projects turn out mediocre and suffer from lack of care and attention. In order to combat this limitation, I suggest working on just 1 project or venture at a time. That way, your work is more likely to see success and you won’t spread yourself too thin.

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