Making the most of opportunities – tips for managing time, energy, and money

Over dinner at Linuxcaffe last night, my friends and I had a great time catching up and sharing our latest adventures. I learned a lot from that conversation, too! =) In particular: the value of a crazy idea kitty fund.

Nigel asked me if I knew lots of other people who were also experimenting with delegation and virtual assistance. I told him that a number of people were interested, but few people actually took the next step and gave it a try.

It’s understandable. Even in good times, most people don’t experiment with ideas because:

  • they don’t set aside time, energy and money for doing so
  • they second-guess themselves, or
  • they don’t know how to even get started.

In order to make the most of opportunities, you need time and energy–and often, money too.

You can free up more time for experimentation and learning. Trim your passive leisure time, like the time you might’ve spent watching cable television, if you still do. Find ways to do things more efficiently, like occasionally working from home in order to save your commute time. Increase your productivity so that you can get your work done in less time. Reassess how you spend your time and whether you can eliminate some activities or adapt them to include the new things you want to do. Batch your work for more productivity. Buy time back by asking or paying someone else to take care of some tasks.

People often tell me that they’d love to save time, but they don’t have the time to figure out how they can. If you’re running flat out and there’s no room in your schedule for even five minutes to breathe and think, you’re running at an unsustainable pace. Slow down. This may require you to adjust people’s expectations of what you can deliver, at least in the beginning. But you need that time to think and make things better, and you’ll benefit a lot from having a little more control over how you invest your time.

You can manage your energy. Figure out what and who give you energy, and what and who drain it. Figure out if you enjoy starting projects or finishing them, at what times of the day and in which circumstances you’re most productive. Manage around that instead of fighting yourself.

I know my passions and what I can do to pursue them. I’m surrounded by wonderful, supportive people who cheer me on and help me recognize room for even more improvement. I can finish some projects, but I can start many more projects than I alone can finish. I’m definitely a starter, although there are some things that are difficult for me to get rolling. I’m better doing creative work in the morning than in the afternoon. I work well when I’m not worried about deadlines and when I have room to make things better.

How can you go about understanding your energy? Experiment and reflect. =)

You can save up money. Invest in yourself. When coming up with ideas or experimenting with new things, it pays to be able to invest a little on things that may or may not work out.

How do you make space for this? Keep track of all your expenses and see which ones aren’t worth it. Set up automatic savings programs so you don’t even see the money in your bank account. Spend less on things and more on experiments and experiences. Focus on free or low-cost ideas in the beginning, and snowball your savings by reinvesting your profits back into your “crazy idea fund”.

You can explore lots of interesting things when you set aside some time, energy, and money. Good luck and have fun!