As an entrepreneur and partner in a technology startup, I constantly think about time and money—and I always wish I had more of both!
As we move further into the new year, I am paying closer attention to how I use my time. Where am I spending it, and where could I be delegating or automating tasks to focus on more impactful activities?
We’ve all heard the saying “time is money.” But what do time and money really have in common? They both grow when managed well. This is a concept worth exploring.
Let’s consider a simple example: our morning coffee run. To make the math easy, let’s say a cup of coffee and a muffin cost $10. If we buy that every weekday, that adds up to $50 per week and $2,600 per year. Now, if we instead invest that $2,600 into an account earning 8% interest, in 30 years, it could grow to over $10,000. So, is a year’s worth of daily coffee and muffins worth giving up $10,000 in the future? That’s the money side of the equation.
But there’s also a time factor to consider. Buying breakfast each morning might save time compared to making it at home. Is the $10 per day investment worth the convenience and time saved over a year?
If we can invest money to make it grow, why can’t we apply the same idea to our time?
“I Don’t Have Time”
The amount of money and time in the breakfast example may seem small, but the same principle applies to business. Just like small investments can turn into large savings, improving efficiency can lead to major productivity gains. The time saved adds up, allowing for more high-value work or personal time.
I think about my company’s customers—trucking fleets that move containers through ports and railyards. These businesses are led by extremely busy executives who deal with countless challenges daily. They operate on thin margins, so keeping costs low is one of their biggest concerns. In fact, a recent survey found that 15% to 20% of respondents said reducing costs was their top challenge.
When we introduce our tech solution to potential customers, one of the most common objections we hear is, “I don’t have time to implement this.” At first, it makes sense. Investing in a new tech system requires money and time—to set it up, integrate it with existing systems, and train employees.
But what if we looked at it differently? What if we saw this time spent upfront as an investment that would pay off over time? By implementing automation, employees could save hours each day on manual tasks. This could lead to running operations with fewer staff while focusing more on customer service and business growth. In the long run, the time saved could be worth much more than the time spent setting up the system.
As a software provider, we work with businesses at different stages of their technology journey. If these companies had started investing in efficiency years ago, their operations—and the entire supply chain—might look very different today.
Your 2025 Time Strategy
The value of time depends on your specific goals, industry, available technology, and other factors.
Once you identify the biggest time-consuming tasks in your work or personal life, consider ways to invest time and money to improve efficiency.
Here are some ideas:
- Invest in a CRM or operational system that keeps customer information in one place, making it easier and faster to access relevant data.
- Set aside a day to automate routine workflows, so you don’t have to manually manage them every time.
- If you frequently switch between multiple programs, take some time to assess which systems you use the most. Then, configure them to work together and automate data sharing where possible.
As business owners, we know money is important. But sometimes, we focus so much on financial numbers that we forget how valuable time is.
This year, I’m shifting my focus to making the most of my time. I want to use the months ahead wisely, creating long-term benefits. I challenge you to do the same. Look at time as a resource, just like money. Find the biggest time drains in your life, invest in ways to fix them, and start making your time work for you. The returns will be worth it—both in your business and personal life.