SNM146: Using Your Time Effectively
There is no resource more precious than time. It is more precious than gold or diamonds. There is nothing worse than working on a project only to realize that you made a horrible mistake. Never waste another moment…
Long Term is Too Long
We put these massive goals in front of us that will take years to reach.
So many startups begin a project that will revolutionize the world.
But it won't make a penny for six years.
The timeline is so long that most of these companies fold like a cheap suit.
It's fine to have long term projects, but you also need to make money in the short term.
Don't depend on your war chest to stay full forever.
Some Projects will Fail
I wish that I had the Midas touch, but nobody does.
Banking on a single, long-term project is the same as going all in when you play poker.
You risk everything on a single bet.
When you win, you win big. But when you fail the house takes your shirt.
When you lose a hand at poker, it only takes a few minutes.
But losing months or years of your life on top of that is devastating.
Diversify Your Risk
Mix up projects that will make you fast money with those that will take a long time.
Work on a job that pays the bills this month and THEN work on your long-term passion project.
You don't have to give up your dreams and you also don't have to risk losing your home.
- Break big goals into smaller goals
- Mix up different types of projects
- Diversify your income streams
Most other links can be found in my TOOLBOX
Send in your questions to podcast [at] servenomaster [dot] com
Using your time effectively on today's episode phase episode brought you by convert kit to find out how convert it can help you grow your business save money and increase your relationship with your email list head over to Servicemaster.com\convert kit right now are you tired of dealing with your boss you feel underpaid and underappreciated if you want to make it online fire you start living your retirement dreams now then you come to the right place welcome to serve no MasterCard how to open new revenue streams and make money while you sleep presented life from a tropical island in the South Pacific by best-selling author Jonathan Gray now your post the last couple weeks things have been really hectic around here and a series of company events have kind of knocked my podcasts off track a little bit and I'm kind of rebuilding and putting things back in order I would take you through this things been going on for me and I've been adapting to them and it all comes down to organizing between high and low low priority projects so if I went to America other week for what directors are having problems with my eyes and they got so bad that for a little while I was afraid that I was going blind last hurting all the time I was struggling to get my work done all of these things writing about getting more more scared last week have discovered that I can only work so many hours per day for my I starter up stop so even when I want to work longer I can't couple things that happened and I take a lot of actions to improve my eyes I have really special computer glasses I have special computer monitors and knock away 70% of the blue light I've got special lights up behind the monitors that generate bias lighting whenever working I do all of these different things at my computer set to a thing called movie mode using a special lighting filter that turns the screen sums fully yellow it makes it really hard for me to edit images anymore but you have no idea what color actually can befriend us to season everything I see pretty much pure sepia feels good-looking making hundreds photos but it allows me to work a little longer on most days I can work about eight hours in the my I start to go back to stop what's good about it is it's actually forcing me to live a healthier lifestyle whenever my eyes start to act up I got exercise on the oceanographer walk with my wife and kids I do something and so it's help me to control my tendency to overwork the 10th you work hard sometimes I just want to grind right right right right and all end up working instead of the shift I plan on working which is usually 7 AM to 3 PM with one hour lunch sometimes on the starting at 5 AM our call little 78 or 9 PM not because I have to I love what I do I always thought that I would be someone who has very casual approach to work in life but it turns out following my father's footsteps I work too much I live on the beach and I noticed that some days I would even leave the house away and go outside for two or three days but now I leave the house or four times a day because of my ice as much as it's like this limiting burden it's also kind of made my life a little better so it's a interesting dynamic rights a cloud of Silverlight can't work in what is what I start hurting but it forced me to do things that are better my life anyways I can use a lot of leisure time to play video games at most if I want to relax and play very amicably for 30 minutes and I got arrested my eyes to try I met a lot of advice from people about ways to improve my eyes have done everything that I can find so far setting up lighting to I distance myself from the monitors all of these different things I'm trying to do and recently some time but some and I can take that specifically helps her eyes would have high-strength time I checked out next time I'm looking for every way to do that but all of these problems with my eyes lead up to okay I can work less which is a need to be even more efficient on top of that over the last few weeks we had a couple medical scores with the kids for the kayak with my wife and cited recently me in her flipped it which meant I had to swim all the way back from the waves to hold great workout I was really worried because I know how to really take care of her a really good Mike-I know she was worried for little while she was pretty scared so glad everything was okay we do all these things together in the day after that even after all these things right she decides that she think she's pregnant which I think is crazy because she's been on antibiotics for we went to the doctor before she start taking the medicine the doctors acute definite pregnant you taken about it no problem she finishes taking antibiotic this week like a day or two later she goes I just took offense estimates look positive know where we live the pregnancy tests are really cheap can't get access to the fancy ones you have in America the ones we have, here cost less than a dollar this Christmas in a condo around here should the pregnancy test which is like a little fancier cost more than condoms but Celeste will relive and I looked at it and it's can't really tell what color weathers like the two lines one line is really dark and in the lines it halfway in the middle so she goes to a doctor the doctor how can I be pregnant when you just told me last week at what the doctor comes home and tells what the doctor said the doctor says what hey your pregnant units are taking your prenatal vitamins time to get ready you can have a baby even pregnant for four weeks I said to my wife you sure the thumbs goodbye when you why didn't you know that with you if you praying for month and she is will she said to me oh you know I checked everything on your pregnant 50-50 and I said wait a minute in the first version of the story did mention his 50-50 part just yeah the doctor said 50% chose what is that mean less it means maybe means are just as likely pregnant is not pregnant I can point to any woman unearthing 50-50 she's pregnant Jessica S the odds are pretty good that anyone who doesn't look pregnant 50-50 pregnant right so now were dealing with that surprise what you do when your doctor after full exam check everything is a 50% chance of pregnant do we start taking piano vitamins to start doing those things were deafly not using the same Dr. that we use for myself we do for one have our child in a better hospital which means we either have to fly to the city with hospitalists and for fly and me my wife got me my wife and my son can travel quite easily because my son is young as he fights for free leave her daughter behind shelf you left behind in will start to bring her the cost goes up so much a taxi cheaper for us to take above we can take a boat we get a cabin for all four of us from the same price as the three of us ago so the upgrade what decided but that isn't too bad it's like an eight hour will write in your into cabinets at night what's weird is because the other island you did at 7 AM 12 hours later at 7 PM is when the boat leaves and arrives at 3M and the other city so click of the worst times for booking hotels and figuring things out so the little bit of complex decisions traveling back and forth and Fiona were to do the good thing is often take the boat we want to buy something you know we can bring stuff back with this it's not a hassle you can bring lots of stuff in the book my friend is it all the time the 21st so all of these things are going in my life and shiny things with you kind of explain why things have been disjointed and while this is been happening because my eyes have been doing many pica services as it should because on top of everything my son has started waking up at 5 AM he used to wake up at six I would give it five record two podcast episodes for wakes up and I wakes up when I do this morning I woke up at 4:55 AM I wake up right at five I don't use a lot I don't know why but I always wake up right around five fortunately the kids some happen and I guess my wife and the kids when slept in the other room with air conditioner works a little better architectures also enacting rituals a little hot all these things are going on and watching these things with you to show all my life is so traumatic a more explaining how a bunch of things in my life have put a new pressure on the amount of time I have available and so I can load-balancing which is web determine what is most Bible things to do and the way I work in the wet hot youth work and a lot of the different projects is a balance between short and long-term projects so short-term project for example is a project the market right now I got her first cool research project, working in doing copywriting for some guys in the medical field and I wrote them a sales letter before it took me about two months to do it and if any lot of money was awesome and half a front half on delivery this time the penny less money all I do is the research I tried finding all the medical research and proof for each part of the cellular it's about 10% the work and I'll be done probably by Monday be the next couple of days so it's like a weeks worth of work on the post eight weeks with the work really great project it was cool is so short I get that first payment in the second payment almost the same week really like that that's a short-term project and it pays very very welcome very good at this type of research that's why they push me to do it it doesn't take a huge metal band with them not working eight hours a day either but I do really really good job some recognition of this type of work I know exactly what they need that's a short-term project is you get paid fast my short-term project pay less money the long-term project long-term project will be where I did the exact similar work but simply paid a flat fee and I just any percentage of profits another danger about that at work is that sometimes people except that make that agreement and they don't pay… Life have several those things out there right now sometimes the payment sometimes they don't have someone who supposed to pay me percentage of growth that doubled the website profit and I'm still waiting for them to start paying me know they went to a couple medical emergencies of their own and know you let's meet in person would have me a thing of me later this week with them how to find life stuff and start the money again these things happen that's the risk the long-term payouts the slow pace those things can take a long time to pay and sometimes they don't have to but sometimes they really do I've also worked on a project where I wrote a book for someone one of first prize I worked on and he said all you need 10% whatever this is a percentage of what yada yada I didn't make one dollar for the project for more than a year but then since then I made a lot of money and still make $3200 a week from that every single week the payoff is just a little bit but if you added up it's way more than I would've charged to write the book fluffy at the time I probably better for thousand dollars since Annette made 100 times that so we have to look at these different things and again we have projects were excited about the most I tend to get really excited about long-term projects unless etc. short-term projects we need to look for that balance you don't want to do was only one I want to only work on the other if you only return short-term products to pay her bills are constantly chasing that you never get ahead so let's even generate every month $5000 in short-term projects but that's what you need to keep your business running but you need to keep her family fed and your house take care of no never build actually get ahead because you won't have money coming from somewhere else but let's say you add in one long-term project you finish long-term project and make $200 a month so now every month you're making $5100 only 5000 to do you get $100 ahead of a mother you had in your second project you $200 a month package enough breathing room to do a bigger project that brings another $500 months and six months your generating $6000 a month even though you only need five to keep your family going this is where you start to actually notice you have a little breathing room so then that month she worked even last you only make $5000 because you do less short-term working take on another long-term project and that generate $2000 a month from long-term work this is how we want to start load-balancing to get to the point were living totally on long-term money or passive income an example of a long-term project for me another example is the book 20 K day I just recently sent out at it for an early review copies to bunch of people the focus down the final movement this can go to the editor in a week or two and all releases I'm excited about that excited to get out in the world that's a long-term project I actually started working on it and October to more than six months for this book because a couple things happen I dictated the entire book which led to much of editing problems now I have to figure out some changes in my business because dictating a book which really good about that as it does hurt my eyes some good have to do more more more dictating actually learning to overcome this particular challenge because it's a medical problem for me so as we have these limitations we have to constantly look for these unique medical problems but have to learn to adapt and overcome in a way to do that with this is that the next book I write the next thing I do have to work with the transcription as I may have to hire full-time person to transcribe stuff I worked which is fine that means an additional long-term cost sought to generate enough revenue to cover the cost of that person whatever the full-time salaries but something will have to do it my eyes don't get better so I can keep writing books as fast as I do so all of these different things mean a haptic consonant load-balancing is deciding hey do I upload the podcast episode today for me recording of podcast episodes were easy the rest of it takes little time once I get back process I softer write and create the pica steps around and it takes about 30 minutes 3045 minutes per episode to make all the graphics make everything cool make a really nice and when my eyes racking up I simply can't do it I don't have enough time instead of working on stuff to fill up the warchest to make sure that my staff get paid make sure my family is okay I should have the money to cover it when my daughter to the hospital and have to pay for medical church when my wife is 50-50 pregnant as you building a business even for more more you can have to make these decisions this is the second phase of online business success of the first level of success the first aerial you'll deal with is working versus not working you sit down your home and you go I could work for two hours in my project I can watch a movie like it's been some time with my wife and somehow my husband something the kids I got to the bar have some fun and so at first the challenges working versus not working in the second phase will taco today it working on good and bad projects are working efficiently choosing the right things it's easy to get excited about project would always want to do in the way to do this is to look at how much money will I make over how much time and constantly look at your ins and outs of your business and say will this generate enough revenue should my priority right now only when I generate enough revenue to cover my business for the whole next month do I then look at what I'm gonna do for long-term projects so I make sure all the bills this month are paid to make sure that all staff is paid I don't want to tip in the savings ever I always want to be paying people and the monthly income once all of the month's bills are covered imaging with Amazon's pay me in between what I'm making from short-term project then I can look at okay what I want to build next what can I do that signature and her long-term revenue that's how we start to assess no I have some friends living working with the really experts and time management and of course I can in front of time to go to their courses or to master their software I wish that I could but we always have this balancing on this interesting dichotomy because I'm not very well organized in the sense that I don't know what to do today I don't have a written out I don't have a prewritten schedule but I get lots of stuff done and I always get enough done to cover all the bills take care my family to let us live in paradise and continue to grow we have things need to fix their surprise bills boys have enough money for that and this is really just real life is that this is just what it's like to run the family this is just would like to be the breadwinner be responsible for things and to move your family new direction to go from working a job you hate to building a job you love all of these things are about making the right decisions most of the people I talk too much of the coaching client that work with the problem is not free time to promise not to the hard workers upon his intelligence it's usually choosing the right thing to invest their time on choosing the right way to invest your time can be challenging and what I recommend doing is start objectively look at stuff and go can you do this need to do this and I need to do this before you start working for the day every day I sit down in the one owner Monday what's the priority now for me one of the challenges is that I check my email first thing in the morning so sometimes email takes five minutes earlier this week one day I woke up there was no email I might serve the master For the first time in almost a year and got an email the night yesterday I had almost 20 emails which means it took me over an hour replied everyone normally I wake up between the sum of three and 10 every day since that one day there were any the next day there were double I don't always know how long is it taking sometimes send me stuff to have to check right away yesterday was a tech-support complaint so much that I can't access my purchase and I went in I logged in as her use her login and I went to my members I log in I went and clicked on all the links access the product that you purchase so everything works fine for me what that means I centers of the pictures and say I checked login is your user's near password and went through everything everything worked perfect for me I can't replicate your mistake I sent a couple things you know like refresh your browser try using different a browser in your computer try using a different device made the palms and iPad we can access in your laptop I sent her some advice which I hate sending it to people because it seems contrite it's like I didn't fix the problem but maybe I did so I may have a second tech report email from her after doing that so whenever someone sends and stuff like that that becomes my number one priority I always want to fix tech support I want to answer every single person emails me if you email me today I'll answer you tomorrow morning my time always do that that's my first priority and sometimes I can knock my focus off track I have all these short and long-term projects I project some working on and balancing those with what I want to finish I just finished second rewrite 20 K day and sent out there early reviews to people and a part of not looking at that until they come back and neck to look at anything until these 10 or 20 people will read it and can we back their feedback we did then I'll send it to the editor of the final editor in a release that's my plan I took a long time metal generate some revenue but then at the same time I've just finished recording the videos for the main course and bonuses for a course called Kindle sniper which is something that I built to be what people can purchase right behind breaking orbit succumb to build little to step funnel their around a specific product and will launch on a different payment processor to really be separated from cervical master but just finish those videos and that courses can sell Frederick $37-$57 something in that range those who suffer far more than 20 K day that's a long-term project I'm working on that for again almost as long as 20 K they actually outlining what have free time recording it I recorded the first 10 videos like two months ago the next this week I said no I'm stuck with me record rest recording video sexy easier on my eyes I like to go for the scissor slides Artie done I like that I get them done my eyes are hurting a little bit these are the projects I'm working on some want to give you feel for what it's like when you're fully working for yourself that you need to be strategic about how you spend your time you be tempted to work on stuff that's finer that's exciting and sometimes you look at something about this is to be really fun but it might not make any money from time sometimes you just want to get it done and see you kind of have to say okay I'll give us in our day they give us two hours a day and if you having problems sometimes you have to push down like for me I love you and the podcast but because of all the things my family and fortune to the fifth and the output to the ciphers actually have even though there's been a gap if you notice may Have this up I guess that's it for about two weeks have a bunch done it's not have a recording as I can upload them so proud of dealing with that problem in a adapting and because of final fix my eyes I may have to switch to doing a podcast once a week if I can use the recording of episodes it's the writing and uploading in the preparation part so there are challenges that I have to face and overcome and I'm learning how to do that you're going to run into your own different sets of challenges you can start working on something and then when your kids needs attention the kids are older maybe one of them is going to some marital troubles may stay with you for three you can't spend time working right you got to be there for all of these challenges are to come in out of your life it's just when the world that's okay the great thing about this business the great thing about working for yourself the great thing about a business so low overhead like this is that you can do shifts and push down how much things cost control your overhead say okay you know what I had taken my kids and we got next week off in the work on the side projects as most of you work for side projects to affect probably all of them do right work independently just like me who work for me all work outside stuff it's the nature of the beast they hired work for them the nail work on the side projects to seven has on-site stuff to work on sometimes in three to sometimes you pause a couple of your accounts are spending money is hey take some time away from this the work of other stuff I want you to before you start each day over 40 stories we just organize your plan a little bit Parsons is on my mind is to have a lot of structural and calendar strategies for becoming a fast right up to 20 K about all that running fast and again if you have a little bit of stretch the beginning of the week you could do some great things now here's a simple system that I use to plan what to work on each day hello everyone my projects and I say short-term or long-term money that's two categories short-term long-term then I rank them based on priority there's a couple ways that you can do it mostly I rank them based on how much money I'll make and how long will take me to finish the project so far the private of $1000 approximately $10,000 that could fish the thousand dollar project this week of the 10,000 not much of the next eight weeks the thousand dollar project first short-term fastening then I'll begin to work more more in the long term project so each day I say okay I'm in a give this many hours to short-term this me out to long term that's how we get a divide up my day it's a more basic strategy kind of similar to if you ever seen Wells was a card counting movies called 21 or whatever and it's a winner winner chicken dinner but a blackjack guide also I know about it but basic card counting is you basely assign a value of 10 -12 group cards new account up and down or something and this is the same idea you use a more basic system for me trying to get really complicated with deciding what to work on starts to get too much time and I can spend three hours organizing what I should work on and I know that's radical something to fall into they spend more time organizing them into working and so organizing and prioritizing stuff all the time how you can start to build your rhythm you can start to get good at it in the way that I don't seem organized because how can I explain how I look at everything I given a plus winter plus to value human eye and I divide suffer the two category short-term and long-term onion and I just kind of work my way through it it sounds like I don't have a strategy is it so simple I have a bunch of friends were masters of time management they have these amazing courses have these amazing books to have this amazing software and it's all wonderful but for me to invest the time to learn it even though the sale your time back I is right now can't do it is my limitations right now are not from wasting time there from family medical things so I'm learning to live inside this new gate and I wanted to share with you a little bit of what's going on in my life to understand what's happening but also help you to understand how I prioritize and organize my day even today I kind of have been organizing women work on and I just decided to change the short-term project to work on because one of the short-term project to persons or to message me over and over in his astonished system this is done NRS note I can finish it today and I consider snaps on it's ready to go and that'll be perfect so sometimes it's about messaging the person vacuum the person that satisfaction I need to go to the next step these the things that we do to begin structuring our days appropriately these the ways that we can get ahead is the way that we can organize it quickly instead of it taking me five hours adjusted for five minutes want to check on the messages I go okay that's what I got work on this what I want to work on that's really a better way to describe my days and it got up one I got to work on the short term stuff make sure that I keep was quite happy keep the money rolling in my family a step ahead and I want to work on the long-term projects is eventually that means that I can go full passive income again which means I can just live without doing any work at all I want to get to that point that someday but the truth is I love what I do I love working that's why been overworking not because I have to because I love it think about how you plan your days organize your projects you will spend too much time and you gotta work on fortuitous times and what you want to do we find that right balance that ensures you hit your numbers quickly and you stay the course you can very quickly escape the 95 and just like me serve no thank you for listening to this week's episode serve no master make sure you subscribe so you never miss another episode will be back tomorrow with more tips and tactics on how to escape that reference head over to serve no master.com/podcasts now for your chance to win a free copy of Jonathan's bestseller serve no master all you have to do is leave a five-star review of this podcast see you tomorrow you just listen to another amazing episode of the serve no master podcast make sure to subscribe we back tomorrow with another amazing episode