Next week, November 9, is “World Freedom Day,” a day that should be particularly special for Americans. As Americans, freedom is one of our most treasured possessions; we hold freedom up as one of the most valuable commodities, something which should be preserved at nearly all costs. Our country is quite literally founded on the pursuit of freedom. On November 9, you should take at least a few moments to truly appreciate the gift of freedom which we’ve inherited. At the more prosaic level, you should also take time to think about how you can better manage your freedom in your day-to-day business. The essence of freedom is time; when you’re free, you have the ability to use your time as you desire. If you’re not free, this ability is either removed or diminished.
As a law firm owner, you can easily appreciate the principle of sound time management. Your business model is really all about being able to manage time in a skillful manner. This is why lawyers break down their billable time into one-tenth of an hour! Today, we will discuss a few critical points that firm owners can use to celebrate World Freedom Day and better maximize their own time.
Time is the Ultimate Resource
The first point to remember is that time is the ultimate resource. If you have the physical resources, you can purchase just about anything. You can buy land, real estate, gold, silver, other precious metals, and luxury vehicles, but you can never buy time. This is something that has been famously observed by many of the most financially successful people in society. This is something that you always need to keep in mind: time is a finite resource, and so you should always be thinking of ways to better manage and save time.
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Itemize All Your Tasks
Perhaps the best way to better manage your time is to literally itemize all the tasks you intend to complete each day. You might want to do this on a weekly or biweekly basis instead of every day. Create a list of everything you intend to complete, and then include the corresponding amount of time you expect each task to require. After you do this, you should carefully scrutinize and analyze your list. Are there ways you can be more efficient? Can you cut out certain nonessential things?
Outsource Tasks to Maximize Time
After you create a list, you can begin the process of outsourcing certain tasks, which can be placed into the hands of others. As a firm owner, your primary goal should be to increase revenues by obtaining clients. No matter how much of a mastery of the law you may have, you need clients in order to sustain your firm. Client acquisition derives from certain activities, such as marketing, networking, and converting referrals. If you outsource the tasks which aren’t related to client acquisition, this can free up time to spend on client acquisition activities.
Use Time to Generate Maximum Revenue
The best way to outsource tasks is to hire a virtual assistant. A virtual assistant can perform a wide range of tasks – bookkeeping, accounting, scheduling, web management, etc. – and can perform tasks outside of the office. This means that you won’t have to deal with any additional clutter. Importantly, you won’t have to sacrifice any efficiency, as modern technology allows all tasks to be completed remotely at the highest level of excellence. When you outsource to the VA, you can better maximize your time and ultimately build up your firm.
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