From Benjamin Franklin’s pithy phrase “Time is Money” to Jim Rohn’s astute observation that “Time is more valuable than money. You can get more money, but you cannot get more time”, we know that time is immensely precious.
Furthermore, as entrepreneurs, effective time and money management is integral to our business success.
But what are some other less well-known quotes about time management and money that we can learn from?
We’ve put together some of our favorites to help inspire, motivate, and reflect on—along with their potential business applications.
So, without further ado – let’s dive in!
1. “The key is in not spending time, but in investing it.” – Stephen R. Covey
This is wise advice from the author of the best-selling classic The 7 Habits of Highly Effective People.
You’ll never regret investing in time (or yourself, for that matter). Time is something we never get back, so it’s worth spending it wisely. Using helpful online tools that automate otherwise tedious and time-consuming business processes such as invoicing can also free up your time so you can better spend it doing what you love and making your business profitable.
Having proper systems and processes in place is also a wise investment.
These can range from CRMs to client onboarding processes.
2. “Many people take no care of their money till they come nearly to the end of it, and others do just the same with their time.” – Johann Wolfgang von Goethe
This is a shrewd observation and somewhat sobering thought by the German writer and philosopher Goethe.
It’s often only when we get to the end of something or when it becomes scarce that we begin to value it. The antidote to this is to take care of our time and money now.
From a business perspective, increasing our productivity, eliminating overwhelm, and automating processes and thus saving time can work wonders for your business (and cash flow).
Don’t leave these things to the last minute when it might literally be too late!
3. “Trade money for time, not time for money. You’re going to run out of time first.” – Naval Ravikant
The essence of this quote is to earn enough money so you can spend your time doing the things you enjoy with the people you love.
Another scenario in which part of this advice is pertinent is deciding how to charge for your freelance services.
For example, if you charge by the hour for a deliverable, the quicker you get at it, the shorter the time it will take and the less you’ll be able to charge.
Of course, this will depend entirely on your circumstances, but it’s a reason why some freelancers set a project rate rather than an hourly one – so they are not trading their time for money, but instead the overall value they provide.
4. “Expect the best. Prepare for the worst. Capitalize on what comes.” – Zig Ziglar
The beauty of this quote is that you can apply it to almost everything.
When we plan for the best in our business, we visualize the best outcome for ourselves and our clients and work toward that positive vision. There’s a certain magic to it.
But by also preparing for the worst, we take into account risks and future-proof our business against adverse potentialities such as severe weather events or cybersecurity breaches, etc. By capitalizing on what comes, we embrace opportunities to save time and make money.
We can even embrace setbacks and, if we are astute, turn lemons into lemonade!
5. “Money’s greatest intrinsic value — and this can’t be overstated — is its ability to give you control over your time.” ― Morgan Housel, The Psychology of Money
It’s not so much the material things that money can buy that are important but the options it gives you in how you spend your time.
We already know that time is our greatest asset. As small business owners, the importance of how we spend our time cannot be overstated. Whether that’s spending time with loved ones, having a well-deserved vacation and avoiding burnout, only working with people we want to work with, or simply working on our business rather than in it, money gives us these options—and this is the real value of money.
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Finally, if you want to save time and money (and get paid fast), try Invoice Ninja for free.
We’ve got heaps of time-saving features to make it easy for clients to pay you.
Invoice Ninja was designed specifically with small to medium-sized companies and freelancers in mind.
You can effortlessly send invoices and manage payments, create automatic reminders for overdue payers, and, at the touch of a button, turn your quotes into invoices.
Everything you need to get going, including invoice templates and a personalized dashboard, plus many other handy features, so you can sit back safe in the knowledge that your invoices will be created, logged, and sent to your clients just like clockwork.
We’d say that’s time well spent!
