Time is Money

by Eileen Nonemaker

Eileenís long, successful career in sales and sales management makes her an easy choice for those leaders and managers who are responsible for generating revenue and achieving corporate goals and have no time to waste getting there. Clients appreciate her ability to help them quickly select, assess, train and develop their sales teams whether they are selling products or services. New teams get brought up to speed quickly and experienced teams develop what is necessary to perform at the next level. Through goal setting, skill refinement and the development of accurate forecasting skills, she has helped both individuals and teams develop strong success strategies. Utilizing her formal training as a business coach and consultant to supplement her natural ability to connect with people, Eileen gains the trust and respect needed to interact with both leadership and team members. When coaching individual clients, Eileen becomes a 'lady on a mission' to help them succeed. Eileen is able to help them stay focused on their objectives and establish goals that take them to that next level in their personal and/or business lives. Her coaching typically involves teaching people how to set measurable goals, how to look at goals objectively and how to re-evaluate them periodically to stay on track. Eileenís goal as a coach is to help her clients find the right balance between career and family so they have the best of both worlds.

Having been in sales & sales management most of my business career, I have heard and quoted the old Ben Franklin adage, "Time is Money" numerous times. When implementing sales team goal setting sessions, placing a dollar value on minutes and hours is a key way to help prioritize behaviors. Are we spending the right amount of time on revenue generating tasks as opposed to administrative and housekeeping tasks? By understanding what our time is worth helps us to decide whether we do something our selves or hire someone else.

As another year comes to a close, it is popular to set new goals and create "resolutions" that are offer us hope for change in the New Year. Often heard, is, "I want to make better use of my time, I need more time management!" As I work with clients who struggle with the "time" issue, I recognize that the "Time is Money" phrase has meaning not only in placing value but in how we handle the two. The similarities are many.

The analogy strikes me as a basic one, and I recognize that we can waste or squander time and money. We can spend them freely or hoard them. We can spend them on ourselves or others. We try to save both and sometimes by saving one - we are saving the other. In most cases we always want more, and sometimes run out of BOTH!

As we plan for 2010 and set our personal and business budgets, we review what we spent in 2009 and determine whether to reduce or add financial resources to staff, marketing, inventory, etc. So, accordingly as we strive to make better use of our time in the future, we need to understand what we did in the past. In 1963, William Ruchti of the American Management Association, was quoted - "The first step toward saving time is to find out how you've been spending it." As we are well aware, a lot has happened during the years between Ben Franklin and William Ruchti and today, but not much has changed when related to our use of time.

Interestingly enough with all the similarities between time and money, one major difference is that time is finite, we cannot go out and earn more, and although money may be limited, it does not tick away, sometimes it even grows.

Just as we review our financial expenditures, we should consider reviewing our expenditures of time. Looking at a master calendar of 2009 and assessing how much time we spent doing what - can help us plan for the upcoming months and year. By being honest with ourselves to eliminate squandering, wasting and misusing our time we may be able to do more of the things we really want to do next year - always setting SMART goals to define what this enhanced time looks like.