How much is your time really worth? This is something I think about a great deal as a leader in my own company. Am I delivering good value to my company today or am I working on something that would be better delegated to someone else? I think all too often as leaders, we try to do everything and sometimes we feel the pull to get involved with an area of business that while engaging, probably isn’t the best use of our limited hours.
Here is a simple method of determining whether I am allocating my time well. This way of weighing and thinking about my time has me delivering better value in my own company. First, I consider how much is an hour of my time worth versus what someone would charge me per hour to do what I am doing? I then set an hourly rate threshold to help me determine what I should be working on.
So let’s say I set a $20 per hour threshold and I need to make a presentation from some notes I took. I know that I can have one of my team members put together a really nice presentation for me for less than $20 per hour. So in this case, I would delegate this job knowing my time is better spent on higher level activities.
As leaders we have to recognize that while we may not like to toot our own horns, we are vital to our organizations. What extra time we have available should go toward connecting with our teams and fine-tuning our vision and even recharging our batteries with things that get us revved up.
While it might feel productive doing some lower level activities in your company, it is likely preventing you from doing the things that will make you much more successful, things no one else can do besides you. If you really like one area of your business that might be better delegated, go ahead and dip your foot in now and then. But you can’t make everything ‘your thing.’ If you follow this simple logic you should find yourself spending more time doing the things within your company that will have the most impact.
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