Life is short, which is why you need to make the most of your time. Everything you want to achieve in life is going to cost time, energy, focus, and money. Thus, we need to master the allocation of personal resources in the limited time we’ve been allotted. An intriguing observation here is that even the brightest people appear to be hesitant to spend their time, money, and energy on their most important life goals.

Make the most of your time: Managing small business resources

We have a tendency to wait for the right opportunity to land into our kitty, instead of embracing risk and evolving ourselves. Everyone is looking for that perfect handout, but few seem willing to actually dig deep and do it for themselves. Successful people have spent a lot of time, money, and energy getting to where they are, but so many only focus on where they are and not where they came from. 

Managing small business resources is no easy feat; people forget about the daily dedication it takes to be successful. We often ignore the cost it takes to be successful. We think that successful people are just lucky, but they are not; they are resourceful. While others are busy spending their time and money on instant gratifications and material wants, successful people choose to invest in their future, their minds, and their health. 

How to master the allocation of personal resources: Pay attention to how you spend them

The way in which you view your resources forms the type of relationship you will have with them in your life. How much of your resources are you willing to allocate to something? Whether it’s going out to dinner with friends, attending a business meeting, or entering a Clubhouse room, how you spend your small business resources makes a difference. It’s a simple concept, really, but one that can really help us to evaluate things quickly and efficiently. If we knew and actually paid attention to how and where we spent our resources, most of our lives would look very different.

When we spend our resources, there is always an opportunity cost. Spending your resources on one thing means you won’t be able to spend them on another. Or, if you do, you can quickly become “overdrawn,” both literally and figuratively.

Conclusion: Allocation of personal resources

The quality of life you want for yourself ultimately comes down to how you allocate these resources: how you spend your time, where you direct your energy, and what you give your attention to. If you show someone how you do those things today, they’ll be able to tell you exactly what your life will look like in the future.

Remember:

• To spend is to use up and consume; to invest is to put forth a resource to produce a profit.
• The difference between a purchase and an investment is how much pain is associated with it. Spending is easy, while investing requires discipline. 
• Wealthy people use money to make more money.
• We invest in the wrong things because we don’t have the right focus.
• Where are you spending vs. where are you investing?