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Is the Way You’re Spending Your Time Costing You Money?

moneyGeoffrey Moore, in his book Living on the Fault Line, discussed the “Core versus Context Model” for businesses. Core activities are things which set you apart from your competition and context is everything else. For many businesses, this may include administrative activities, marketing activities, and the like.

As we discussed his model, we realized that this works in our personal lives as well. You want to do more of the things you’re really good at and less of everything else. Usually, we really like to do what we’re good at so by focusing on just those tasks, we can advance in our careers.

Like for us, our strength is working on content for Bigg Success. At least we’d like to think so … or more importantly, we hope you think so!

For us, the contextual activities would be everything else. So for a couple of examples, we outsource our house cleaning and the yard work. Instead of spending time on these things, we can work on our business.

You’re getting a glimpse into how integrated our personal and professional lives are. Since we often work from home, all of these decisions are floating around together. We don’t think we’re alone on this – a lot of people are finding it pays to integrate their work life and their professional life.

By outsourcing your contextual activities, you save time and you open up the opportunity to make more money. It comes back to the time vs. money conundrum …

If you don’t have money, you have to invest more time.

.
georgeFor example, if you start a business that is well-capitalized, you will be able to spend your time differently than if you start on a shoestring. With limited capital, you may have to take care of the janitorial work – a lot of business owners have done that. I’ve done that!

.
At first, you may have to do it yourself because there’s no money. But you want to contract it out as soon as you can because it’s definitely a contextual activity, unless you happen to be the owner of a janitorial service.

Thinking about core vs. context helps you focus on where you want to spend your time and where you want to spend your money. You think twice about spending money because there’s something else that will let you spend more time on your core.

You may find that you spend your money on things that save you time, rather than cost you time.
.

marylynnI want a bigg screen TV, but we would rather spend that money on a web person. Right now, I handle our web site. So when there are changes that need to be made, I get to work. But there are better uses of my time.

.
Because we know that’s not in our core. Bigg Success is still in its early stages, so as soon as we can we’ll outsource this activity. Another example is publicity – right now, we do it ourselves. We want to contract with someone who is better at it than we are and can accomplish more than we can on our own.

So although we don’t have HDTV, we do have goals for that money!

It boils down to thinking about how much your time is worth. You may find that by contracting out certain activities, it costs you less than what you can make by spending your time working in your core.

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BIGG Success Logo boxed

Is the Way You're Spending Your Time Costing You Money?

moneyGeoffrey Moore, in his book Living on the Fault Line, discussed the “Core versus Context Model” for businesses. Core activities are things which set you apart from your competition and context is everything else. For many businesses, this may include administrative activities, marketing activities, and the like.

As we discussed his model, we realized that this works in our personal lives as well. You want to do more of the things you’re really good at and less of everything else. Usually, we really like to do what we’re good at so by focusing on just those tasks, we can advance in our careers.

Like for us, our strength is working on content for Bigg Success. At least we’d like to think so … or more importantly, we hope you think so!

For us, the contextual activities would be everything else. So for a couple of examples, we outsource our house cleaning and the yard work. Instead of spending time on these things, we can work on our business.

You’re getting a glimpse into how integrated our personal and professional lives are. Since we often work from home, all of these decisions are floating around together. We don’t think we’re alone on this – a lot of people are finding it pays to integrate their work life and their professional life.

By outsourcing your contextual activities, you save time and you open up the opportunity to make more money. It comes back to the time vs. money conundrum …

If you don’t have money, you have to invest more time.

.
georgeFor example, if you start a business that is well-capitalized, you will be able to spend your time differently than if you start on a shoestring. With limited capital, you may have to take care of the janitorial work – a lot of business owners have done that. I’ve done that!

.
At first, you may have to do it yourself because there’s no money. But you want to contract it out as soon as you can because it’s definitely a contextual activity, unless you happen to be the owner of a janitorial service.

Thinking about core vs. context helps you focus on where you want to spend your time and where you want to spend your money. You think twice about spending money because there’s something else that will let you spend more time on your core.

You may find that you spend your money on things that save you time, rather than cost you time.
.

marylynnI want a bigg screen TV, but we would rather spend that money on a web person. Right now, I handle our web site. So when there are changes that need to be made, I get to work. But there are better uses of my time.

.
Because we know that’s not in our core. Bigg Success is still in its early stages, so as soon as we can we’ll outsource this activity. Another example is publicity – right now, we do it ourselves. We want to contract with someone who is better at it than we are and can accomplish more than we can on our own.

So although we don’t have HDTV, we do have goals for that money!

It boils down to thinking about how much your time is worth. You may find that by contracting out certain activities, it costs you less than what you can make by spending your time working in your core.

Subscribe to the Bigg Success

Related posts

123]

127]

(Image by penywise)

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5 Questions to Ask Before You Work with Your Spouse

By Bigg Success Staff
06-15-08

Work – Life Balance

spouse 

Here’s a way to integrate your personal and professional lives – work with your spouse. It’s a great way to spend time together while building a business and your careers.

Of course, just because you have a happy marriage doesn’t mean you’ll have a successful partnership. Not all couples can or should work together.

So how do you know if it might work for you? Sit down with your spouse and have a frank discussion about the following questions about your personal dynamic.

How did previous projects go?

Look at projects you have done together in the past. Two common ones are building a house or tackling a major home remodeling. These projects can be very stressful so they make a good test of how you will handle the rigors of business. 

Was it a smooth process?

If things went smoothly, that may be a good sign that you are cut out to work together. Business partners have to be able to get along to get ahead. You need a large degree of harmony if two people are going to work well together.

Do you agree too much?
If you agree about everything, one of you isn’t needed! Disagreement on how to proceed often leads to a better strategy than either partner originally imagined. It’s good to disagree; it’s bad to be disagreeable. That leads to our next question.

Was it rife with conflict?
As we just said, a certain level of conflict is good. However, if you fight each other every step of the way, it won’t work. Don’t even try to go into business together. You may consider each starting your own business, but you shouldn’t work together.

How did you handle conflict?

If you had a little conflict, that’s good. Now think about how you handled it. Were you able to discuss issues rationally? Did you reach an agreement on how to proceed? Were you both able to move on once you did? If so, you may be a good fit.

Hear today's lesson and laugh on The Bigg Success Show. 

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25 Ways to Reach the Top of Your Chosen Profession

By Bigg Success Staff
05-15-08

Peak Performance

twenty-five 

When peak performance is discussed, it’s often about athletic pursuits. However, it can also apply to any of us seeking the most of our chosen professions. Just like athletes, we have to prepare mentally and physically to reach the top.

Mindset
#1 – Find your passion.

#2 – Define your vision of success.

#3 – Find your opportunity / niche.

#4 – Set goals that lead to your vision of success, step-by-step.

#5 – Get started … take action.

Feed your mind
#6 – Read, listen to, or watch something that inspires you every day.

#7 – Read great works of literature and listen to great music.

#8 – Learn a little bit about a lot of things.

#9 – Take up a creative hobby to learn to be more creative.

#10 – Talk to people. Learn about their personal and professional interests so you learn.

Fuel your body
#11 – Eat right.

#12 – Exercise.

#13 – Get enough sleep.

#14 – Balance your personal and professional lives.

#15 – Give yourself down time, whatever that means to you.

Practice
#16 – Participate in classes, workshops, seminars, etc. in your chosen field.

#17 – Also take every opportunity to build your soft skills.

#18 – Get a mentor / coach.

#19 – Rehearse in front of a mirror.

#20 – Role-play.

Improvement
#21 – Learn from your mistakes.

#22 – Learn from your successes.

#23 – Learn from the mistakes of others.

#24 – Learn from others’ successes.

#25 – Focus on the next iteration … work to be a little bit better today.

Find out when we post new articles. Subscribe to the Bigg Success Weekly.

Hear today's lesson and laugh on The Bigg Success Show.

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25 Tips to Take Control of Your Life

By Bigg Success Staff
05-13-08

Work – Life Balance

25 

Most people find that achieving balance between their personal and professional lives is one of the biggest challenges they face. In this article, we summarize five articles that help you get in control. Each article includes five tips, which he have highlighted here, along with the link to each article so you can explore the topic more if you want.

5 Burnout-Busting Tips

#1 – Combat boredom.

#2 – Avoid focusing too much on your job.

#3 – Avoid office politics.

#4 – Avoid overworking.

#5 – Better manage your time.

Get the full details on these tips to bust job burnout from this great article by Dr. John M. Grohol at PsychCentral. And now for some more on office politics …

5 Pointers on Office Politics

#1 – Don’t try to change or resist company culture.

#2 – Practice self-awareness.

#3 – Manage your stress levels.

#4 – Be approachable all the time.

#5 – Network before you need to network.

This is a fantastic post by Penelope Trunk, The Brazen Careerist and author of the fantastic book, The Brazen Careerist: The New Rules for Success. Read the entire post for all the details of her five tips to survive politics at work.

5 Time Management Tricks

#1 – Tame the e-mail beast.

#2 – Eliminate unnecessary meetings.

#3 – Put up boundaries.

#4 – Find your rhythm and schedule around it.

#5 – Say no.

Marci Alboher did a great job with this article for the New York Times. Read her full description of each of these five tips and you’ll have time on your hands!

5 Tips to Set Boundaries Even if You’re a Workaholic

#1 – Choose flow-inducing hobbies that engage you and pull your mind away from work.

#2 – Set goals in your personal life just like you do in your professional life.

#3 – Schedule dates with people for non-work activities.

#4 – Use technology to separate your professional and personal lives.

#5 – Decide in advance when you want to say no.

These suggestions come from the blog of Tim Ferriss, author of the great book, The 4-Hour Workweek.  This was a guest post by Anne Zelenka, editor at large of Web Worker Daily. Check out her full article on five boundary-setting tips for people who are obsessed with work

5 Tips to Make Your Next Family Vacation a Bigg Success

#1 – Try something different.

#2 – Do your homework.

#3 – Leave work at home.

#4 – Plan for anxiety.

#5 – Make time to bond.

You can read all that Dr. Edythe Harvey has to say about making the most of your next family vacation in this great article from Newswise.

Find out when we post new articles. Subscribe to the Bigg Success Weekly.

Hear today's lesson and laugh on The Bigg Success Show. 

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