Based on results, cold, hard numbers, that is, there s no link between a full schedule and a full bank account. Business owners typically spend 80% of their time on 20% of the tasks needed to make their businesses succeed. (Darn! There s that 80/20 rule again!) Time is the one truly limited resource you have. Money can be replaced (usually a headache). Personnel can be replaced (more of a headache). Buildings, products, even ideas, there s more where those came from. But once you ve spent your 24 hours today, they re gone. A wise business person recognizes this, and squeezes the most value out of every minute. If you ll adopt a sense of vigilance with the clock, you might be surprised by how many of your minutes sneak past you without giving up the goods.

Where does the time go? Every minute appears to be honorably discharged , until you take a closer look at the results you get from it.

Case in point. Every business owner knows that relationships are huge in the master plan for success. You are your brand , and to get that face time in, and you ll stay on your prospect s radar. Treat your small customers just like you d treat your big ones. These sayings sound good , but face-to-face time is some of the most expensive you ll ever spend. You could easily kill an entire afternoon schmoozing, getting to know your prospect s needs, building an everlasting bond and all with the idea that your loyalty upfront will pay off with something big down the road. Chances are, you ve just spent 80% of your day on a client who might (if we re really generous with the numbers) add 20% to your bottom line for the month.

Does this mean you should shun face-to-face meetings? Not necessarily. But neither should you necessarily jump at the first mention of a meet and greet. After you figure in your travel time, the time you re likely to spend cooling your heels in your prospect s conference room, and all the extra minutes that will pool at your feet just by the nature of an in-person meeting, you ve lavished quite a luxury on your prospect and with no guaranteed return on this investment.

In-person meetings are great but recognize them as the powerful tool they are rather than running willy nilly just because someone asked. Or, here s another one for those who are just getting started. Want to drive every business contact and vendor crazy from the get-go? Waste their time along with yours!

Commercial printers see this on a daily basis. Brand-spanking new entrepreneurs come in to kick some tires. They re long on enthusiasm, short on funds, and nowhere on viability. They re ready to take on the world, and want to get four color brochures, banners, business cards, a custom logo, a website, and even custom-printed t-shirts for their hordes of satisfied customers. Creativity , check! Clue , nope! In fact, not only do these folks end up ordering only a cheap set of single color business cards, they do it only once because they don t stay in business long enough to need a reorder.

Enthusiasm is great but it s no substitute for solid planning and real action.

Here s one more example that disguises itself as fiscal responsibility. Say you need something done. You call every listing from A to Z to find the absolute best price. Calling, calling, calling , the minutes and hours leaking through your clenched fists as you search for a way to save a few dollars. When price becomes king, you forget all about quality, or the value of momentum.

Getting the most bang for your buck is great but not when you end up stepping over dollars to save a few cents.

Chances are you d never even consider sitting around playing Solitaire on your computer during your workday , most entrepreneurs would recognize this for a gross misuse of irreplaceable time. But if you let your guard slip throughout the day, you might be surprised to see how many minutes escape unused.

Become a true master of the 24 hours you have each day. Constantly evaluate whether any given task makes the highest, best use of your time. Make the adjustments you need so that you ll use the 80/20 rule to get the results you want.

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