I just read an article about time and how we use it. “Unsuccessful people spend time,” the author said. “Successful people invest time.
“Spending time means consuming it by watching TV, playing games, hanging out with friends. That much is clear. What is not as clear, and wasn’t addressed by the author, is the idea that we also consume time when we do our work.
Meeting with clients, drafting documents, arguing motions, and everything else that defines being a practicing lawyer consumes time. Yes, we earn income when we do that but, by and large, that’s all we earn. It’s an equal exchange–our time (and work product) for money.
Investing time is different.
Investing time means doing things that can provide a bigger return relative to the time invested. Building relationships with influential people is a good example.
What is the value to you of a new referral source or business contact who provides information or leads, sends traffic to your website or introduces you to influential leaders?
Incalculable.
Investing time also means doing activities that build key skills and knowledge. Improving trial skills, speaking skills, networking skills, and sales skills, for example, can provide you with value far beyond the time you invest in acquiring those skills.
But it’s not just the increased value we derive by investing in people and skills. It’s that the value we get compounds.
One relationship leads to two. Two leads to ten. Improved marketing skills bring you new clients, repeat clients, and higher paying clients. It can quadruple your income in a short period of time, as it did for me.
How much of your valuable time do you spend each week? How much do you invest?
The answer will predict your future.
How much time do you invest in learning how to bring in more referrals?
