What does it mean to be free? Most people’s definitions are probably very similar. Some might see freedom as the ability to do what you want when you want to. Others may find that a bit hedonistic.
Regardless of how you define it, freedom and responsibility are two sides of the same coin; you don’t get one without the other. The more you’re responsible for, the freer you are to choose how to maintain or manage what you’re responsible for.
You may end up delegating maintenance tasks to employees, and then you’re responsible for the first thing, and your employees, too! All of this added responsibility, though, brings you more freedom.
We often equate success solely with money. But money is an unlimited resource. There is one truly limited resource in our universe, and that’s TIME. You can never get your time back. Once you use it, it’s gone for good. Money? You can easily replace it.
Why is this important? At Sparks Law, we’ve seen the beast of entrepreneurship become an albatross for many of our clients. As your business gets more successful, it relies heavily on you as the owner because you’re the “best” at what your company does.
More money (and success) means more customers, more work, and more to maintain and account for. You might hire some employees, but if you don’t adequately train and maintain them, there will be a high staff turnover. This means more administrative work for you as you attempt to hire more employees.
Additionally, the staff you do have on payroll will most likely do their jobs poorly and slowly (because they’re new and have little training). Consequently, all the responsibility falls back onto you, the business owner.
So, even though you’re making more money, you’re swamped at work and have no time to use it. This makes time more important than money. When making decisions for your business, invest your time sparingly. Hire and maintain quality staff who you can delegate to, so that you can focus on the more important aspects of your company. Keep ahold of your time; it’s your most precious resource.