Simplify your budget; simplify your time

While cleaning out my email inbox recently, I realized there were numerous emails needing attention related to marketing my business. Organizations I have engaged with to support me in growing my business were asking for responses, content, or action.  In addition, two such organizations’ renewal reminders were in my inbox. As I reviewed the multiple emails, I realized I was going to need to increase the amount of time I spent engaging with those services and tools if I wanted to see a return on the money invested in those organizations.

Seeing how much money my business was going to spend in the coming months, and feeling the angst of how much I needed to do for the benefit of these services started me questioning if I was getting the right value from these marketing services. I realized I have too much going on in my business and my day-to-day to be investing money in marketing tools that are causing me stress without a real return on investment. When I am spending money on a service, there needs to be a positive return to the business. That can look like saving time, increased revenue, reduced costs, or less stress. 

The services in my inbox were providing angst and stress as well as taking up more time on my calendar. So, I decided to eliminate those services from next year’s plan.

Simplifying my budget. Simplifying my time. Reducing my stress. 

Every business owner feels a stretch on their time. There are so many commitments that spending money on services to support our time crunched efforts makes sense. However, there can be a point when a service or tool is no longer providing the support you need compared to the time and work it needs from you.

As you prepare for the coming year, whether through a formal budgeting process or simply mapping out how you want to grow or sustain, think about what you are getting from each of the items you spend money on. 

Between software licenses and online marketing tools, networking groups and events, conferences, and sponsorships, what we spend money on each year brings different benefits to the business.

In preparation for the new year, evaluate what you have spent your time and money on this year and decide if simplifying your spending will free you up to have better results with another service or tool.  

As you go through the different areas you spend money on, you are likely to find services that meet your needs better than others. Perhaps making a larger commitment in those areas will provide a stronger return and simplify how you spend your time.

After my realization, I took steps to start the cancellation process for the two services. Over the next twelve months, I look forward to the number of emails requiring my action to go down, and having more time to commit where I know I will see results. I look forward to the simplified budget and the more focused use of my time.