The #1 Secret To Business Growth: Time vs Money vs Bandwidth

What’s the one thing all entrepreneurs want? That’s easy…business growth. And business growth usually looks like “making more money.” 

 

And how do you make more money? You spend as little money as you possibly can. 

 

The less you spend, the more you make. Right? 

 

There is definitely value in making sure your business isn’t leaking money on unnecessary things.  However, this is a common mistake for many entrepreneurs.  

 

Every entrepreneur actually has 3 resources at their disposal to make more money in their business: time, money, and bandwidth. 

 

And if you really want your business to grow, you need to spend some time slowing down, and figuring out how to balance spending these 3 valuable resources.

 

Let’s look at each resource separately and get practical about how to use them effectively for real growth in your business. 

 

 

Have you heard of the term “bootstrapping?” 

 

It's that time in your business when you're not sure what's going to work and what's not. You are trying things out, but you have to do it on a limited budget. 

 

It's a stage of entrepreneurship when you are investing a lot more time into your business than cash. And you’re often having to do everything the hard way. 

 

Sometimes bootstrapping is a good thing. It helps you to understand all the working parts of your business, and it teaches you things that will help you delegate later on. 

 

But while bootstrapping can save you a few dollars each month, it can actually cost you major business growth in the long run.

 

 

Here’s a real-life entrepreneur example: There is an online platform you would love to use in your business, but it costs $50 per month so you decide to bootstrap it and figure it out on your own with the free version. Sound familiar?

 

If you have to spend a lot of time learning a new platform and you're using something that's not user-friendly, but you do it to save a few dollars each month, then that is costing your business. 

 

You could be spending as much as 10 hours a month on something like that just to avoid spending $50. Could you make more than $50 in 10 hours? 

 

It’s easy to waste a valuable resource like your time, just to save a few dollars.  And spending some money would actually protect your time and increase your productivity.

 

So remember to stop and compare the cost between dollars and minutes. You might realize that saving money is costing you business growth. 

 

 

Your bandwidth matters. Because if you're exhausted, you're not doing your business well, and your productivity suffers. 

 

If you're doing something that's super heavy for you to do, and choosing the hard, that will cost you major business growth.  

 

Remember that you do have other choices. There really is enough money for things if you slow down to figure out what those costs are on your time and bandwidth. 

 

Saving money is usually what pushes entrepreneurs to be “hardaholics,” but if you learn to protect your bandwidth for the right parts of your business, you will be using that valuable resource wisely.

 

 

This thought is contagious among entrepreneurs: “I'm going to run really fast because I'll make more money if I run really fast.” But the opposite is true.

 

Are you taking the hard route in your business without slowing down to see what the other route looks like? 

 

The biggest entrepreneurship lesson here is taking time to slow down to count the cost of all your resources: time, money, and bandwidth. 

 

Your time and bandwidth can be much more valuable than money!  And if you don’t slow down, you're in danger of making some bad business growth decisions in the long run. 

 

Bootstrapping is not a bad thing, but it will cost you more than you can afford to pay if you're not careful.

 

If you will slow down and count the cost of time, bandwidth, and money, and make your choices from that, your business will grow the right way.

 

 

Saving money, protecting your time, and being productive should all be considered when growing your business. 

 

And slowing down enough to make those tough choices between time, money, and bandwidth is one of the biggest secrets to entrepreneurial success. 

 

Are you ready to join a community of entrepreneurs who are serious about being more productive in life and business? Join our Groundwork Brigade - a place to practice these brain strategies and grow your business into one that you love. 

 

If you missed the conversation between Kim and Kerry on their podcast Buckets and Boom Gates, you can catch it here. 

 

To connect with Kerry Zarb go straight to her website www.kerryzarb.com and you’ll find her there!

And to connect and find out more about Kim or how to create a sexy business for a sexy life, you can reach her and the My Sexy Business Team at www.mysexybusiness.com