How to be more productive

I’ve written a few posts about minimizing expenses and assets. However, you can’t build a business out of thin air.  If that were possible, then everyone would be doing it and we would all be rich.

To build a successful business, you must invest something, whether it is money (financial equity) or hard work (sweat equity) or both.

Source: http://www.frugal-cafe.com

Amazon or eBay might have built successful businesses with little or no physical assets, but their founders invested many hours of programming and experimenting into them.   And I’m sure they “wasted” a lot of time on similar ventures that were less successful. Do likewise with your own business. Don’t waste money on useless assets or on unnecessary expenses. Don’t waste your time doing unimportant things. Spend your money and time where it will do the most good.

Ask yourself: Will this task or will this money build my revenues or profits?  Or is there a better way to spend my time or money?

About Mark P. Holtzman

Chair of Accounting Department at Seton Hall University. PhD from The University of Texas at Austin. Worked at Deloitte's New York Office. BSBA from Hofstra University.

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