The Third Business Resource You’ll Ever Need

The classic notion in the business world is that you only need two resources to keep going: money and time. That may well be true. Only if you don’t value the third resource that’s been responsible for your sustained drive: energy. It’s what kept you going despite you realizing it.

Now, energy takes many forms. It can be the expendable physical energy that you have. But it can also be spiritual energy, psychological energy, and emotional energy. You can re-fuel all of these energy types, but without them, you won’t be able to make use of your time or money wisely. So how do you harness your energy’s power?

Use Your Time Wisely

Sure, you can manage your time, but doesn’t that mean that you also get to do everything in a given day? What you can do to conserve your energy is to delegate. Identify high-level tasks that you alone can do. Delegate the rest. It’s a common mistake among entrepreneurs to do everything when they should be spending their energy on one important thing: getting the business known out there.

So use your energy for the right purpose.

Create an Energy Budget

Yes, there are things in your business that you just can’t delegate. Meetings and conferences is one of them. But if you find that a single meeting exhausts you, then don’t make it a point to schedule a series of meetings in one day. Doing so defeats the purpose of you saving energy to do something equally important on that day. If your energy is consumed on those meetings, you won’t have enough to last the rest of the day.

Solve the Problem

What most people do is that they solve problems in their businesses one incident at a time. The problem with this approach is that it doesn’t necessarily address the root of all these problems. So instead of regularly changing systems, processes, or re-assigning staff, why don’t you zero in on the root cause and implement a definitive solution? Don’t settle for quick fixes.