The Billion-Dollar Time Management Secret

Don't just maximize your time - leverage it.

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Leading Authority for Young Entrepreneurs
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Peter Voogd tells Think Media CEO Sean Cannell how billionaires prioritize their time and effectively work with low value.

As opposed to maximizing time, which is an individual effort, leveraging time involves duplicating, developing people and building teams.

While new entrepreneurs try to do everything themselves, successful entrepreneurs focus on activities in their areas of genius and with the highest value, delegating all other work. For example, delegates 99 percent of his businesses’ work so he can focus on the 1 percent that pertains to his vision.

The different kinds of work and their worth:

  • High-value legacy work: activities with long-term yields such as investing, hiring, and developing books and audio content
  • High-dollar work without legacy payouts: sales, , speaking, client meetings and referral programs
  • Low-dollar work: errands, making appointments, and other activities easily outsourced
  • No-dollar activities: watching TV, gossiping and other time-wasters — billionaires do not watch

The type of work someone spends most of their time doing most likely corresponds to their financial situation, with those focusing on low-dollar work earning less than those who concentrate on high-dollar and legacy work.

Related: Here's How You Can Pick and Master Your Niche

More from Entrepreneur

We created the Start Your Own Business (SYOB) course to help you get started on your entrepreneurial journey. You will learn everything you need to know about testing the viability of your idea, writing a business plan, raising funds, and opening for business.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur