676: 5 Easy Ways to Trade Money to Get Back Time

0:01Today's episode is sponsored in part by Revolve and Spectrum. Revolve is my all time favorite place to shop for my dream wardrobe. Head to revolve.com forward slash gold digger to shop my favorites and get 15 % off your first order with the code gold digger. Spectrum business keeps your business connected with reliable service you can count on. Visit spectrum.com forward slash free for life to learn how you can get business internet free forever. As always, you can find all of our amazing deals in the show notes. Now let's get into it. okay I have been on this ruthless pursuit to purge any clothes that I'm not actually wearing like if I haven't reached for it in months it's gotta go I am trying to be really intentional about what I bring into my closet right now which means I am only buying pieces that I know I will actually wear and use revolve just gets it though I'm literally wearing my brown autry sneakers from there right now and my new suede purse it fits my laptop in it so it's basically a fancy shoulder bag that works for everything.

1:02I love finding pieces like that. Things that look good, but also work hard for my actual life. Their holiday shop is live right now with all the good stuff. Sparkly party dresses, cozy sets, cute gifts, everything you need for whatever is on your calendar. And it's all in one place, which makes shopping feel way less overwhelming. Whether it's a weekend away, a big night out, or a holiday party, your dream wardrobe is just one click away. Head to revolve.com forward slash gold digger, shop my edit and take 15 % off your first order with the code gold digger. Fast two-day shipping, easy returns.

1:37It's literally the only place you need to shop from. That's revolve.com forward slash gold digger to shop my favorites and get 15 % off your first order with the code gold digger. Offer available for a limited time. So happy shopping. Anytime I'm investing in a professional, the work that they are doing yields greater results and rewards than the expense that I am spending. And it also gives me that clarity and confidence that I am working with someone who knows this better than I do. Hey, my name is Jenna Kutcher and I am obsessed with all things business, marketing numbers, and helping you to navigate both the messy and the magical seasons of this thing called life.

2:17I'm a small town mama who took a$300 camera, grew a successful photo biz, and now I work from home and run a seven-figure online business. I teach you the tried and true secrets to building a career you adore. Shy away from the real talk? No way. Money, hardship, growth, loss, and marketing are all topics we discuss here. Think of this as your one-stop shop for happy hour with a gal pal mixed with business school. Pull up a seat, make sure you're cozy, and get ready to be challenged and encouraged while you learn. This is the Gold Digger Podcast. Today, we are talking about two of my favorite topics, time and money.

2:55Now, I like to think about my life like a series of seasons. I know, roll your eyes, everyone uses that word season way too much, but stick with me here. Because I feel like each season or stage of life brings a different main character into the forefront, especially when we're talking about time and money. In some stages of life, money is king. You are willing to trade any amount of time in order to earn it. You'll see this a lot if you're just starting out a business or you're going through some really big changes like you're pivoting or you're launching or creating something new. That is usually the reality of those big growth stages of life.

3:35You are actively and excitedly exchanging your time in order to earn money. But here's the thing. Once you have achieved some level of success or you've gained the financial freedom you've desired, you start to have the scales tip and you realize that time is the real treasure. Again, this could be for a season or a stage or the rest of your life. And maybe you realize you'll gladly give up some of that hard earned money in order to get back your precious time. I always think about it like this. Time is a non-renewable resource. Once it's gone, you cannot get it back. Money, on the other hand, you can always find ways to earn more.

4:16When you start to see life like that, it's kind of a wake up call. We start to value time above everything else. We recognize that it is the most precious thing that we have. And maybe we begin to understand that true wealth isn't just about the size of our bank accounts, but about how we are using our time. There's this quote that I love. It's like, how we spend our days is how we spend our life. And I love that line because it's so true. A lot of us want these full lives, but when we take a look at our day-to-day existence, it might not match up to what we really want our life to be. So as we move through these different seasons or stages of life, let's keep in mind this profound truth about time and money.

5:02The goal is for us to find that sweet spot between chasing financial stability while preserving and spending our most valuable asset of time wisely. This episode is to help you make more conscious choices that align with that value of protecting your time. And I'm going to be sharing five ways for you to trade money in order to get back your time so that you can do the thing that matter the most. Let's dive on in. If you're ready to dig your biggest goals with each other in person, mark your calendars for September 5th through the 8th, 2023 for HubSpot's annual inbound conference in Boston. There will be multiple stages featuring over a dozen industry experts, including Reese Witherspoon, Derek Jeter, Neil Patel, and more.

5:50You'll learn everything from sales strategy to AI and innovation, connect with the leaders. And the best part is you'll walk away with practical tips that you can put into action as soon as you get home. Tickets are selling out fast. So head over to inbound.com to get yours today. So let's kick this off with what I think is one of the best places to start in terms of trading your money to get back your time. And that is through delegating administrative tasks. I'm talking about hiring a personal assistant or a virtual assistant or a VA or even just outsourcing certain tasks. That can be a total game changer when it comes to freeing up your precious time.

6:30According to a survey conducted by Harvard Business Review, executives spend around 48 % of their time on administrative tasks. Having someone to take care of some of those admin tasks can give you the freedom to focus on the things that only you can do, the things that truly matter, like strategic decision-making, business development, setting the vision of the company, or other core responsibilities. Like imagine this, instead of getting bogged down in scheduling appointments, responding to emails, managing your social media accounts, you could pass off those responsibilities to someone else, whether it's a personal assistant physically present in your office or a virtual assistant working remotely, having someone dedicated to handling some of these tasks can be a massive weight off of your shoulders.

7:18One thing I like to think about when it comes to VAs is I often have this discussion with business owners who are kind of at that point of like, I need to hire, I need more help, but training is going to take so much time and energy. And we're forgetting that we can train someone once. And yes, it is going to take an investment upfront of your time and your energy. But if we train someone well, that is going to save us time over and over and over again. And that is going to make a massive difference in our life. And so when we start thinking about things like hiring a VA or getting a personal assistant, it's really important for you to look at honestly, where you're spending your time on a daily basis and also look at what tasks bring you joy and what tasks drain you.

8:05It's really funny because I am the only person that manages my social media accounts for now, right now. And I love it. I love being connected to you. I am the person reading the DMs and the comments. And the other night I was at dinner with some girlfriends and they were like, you need to have someone else do that for you. And I was like, but that's like how I stay connected to the mission and the vision. And so as we start thinking about a VA or getting more help and investing in that money to get back our time, it's really important to be honest about what tasks am I doing that I hate doing?

8:39What tasks am I doing that I'm not good at doing that someone else might be better at and enjoy? And even thinking about things like content creation, like whether you're a business owner or a content creator, or just someone who needs to maintain this online presence, things like creating high quality content takes a lot of time and effort. And that's something that you could also delegate. And so it's important for you to do this deep analysis of like, okay, on a daily or weekly basis, here are all the different things I'm doing. Here's how much time it's taking me. And I would really encourage you to actually honestly track your time.

9:13You might be shocked by that, but there are so many spaces in your life and in your business that you can delegate, whether it's writing blog posts, creating social media content, managing your website, responding to emails, doing support. A skilled assistant can handle all of these tasks and so much more, which frees you up to focus on the big picture and show up where only you can show up in your business or in your life. And when you delegate these non-core activities, it gives you a deeper level of concentration on the high value tasks that truly drive your business forward. This could be brainstorming new strategies, developing new products or services, nurturing the important client relationships, or exploring opportunities for growth.

9:55Every time I feel myself get into the weeds, I have to remind myself that when I am in my highest form, when I'm showing up with the most focus and determination, that is when the business actually grows. Not when I am in the trenches doing the things that I shouldn't be doing. When you get extra time and mental energy at your disposal because you are effectively outsourcing, you can absolutely make a bigger impact and propel your business to new heights. There's an entire chapter in my book, How Are You Really?, about asking for help. Because I was the classic white knuckler. I was someone who did all the things.

10:37For so many years in my business, I was the support person. I was the email person. I was the invoice person. I was a marketing person. And I was the creator. I was all of those things. And I often think of that visual of white knuckling because so many of you are white knuckling your business or your life right now. And I had to loosen the grip. I had to loosen the grip. And when I did that, my hands were suddenly open to all of the possibilities. Asking for help is not easy. In fact, a lot of times we trick ourselves into believing it makes us weak. But what I have turned that into is that in me asking for help, I'm giving someone else to show up where they are strong.

11:19And I think that's really powerful. So if you are someone listening and you're like, it is time, I need help. Yes, it is going to take some time and energy to train that person in. It is worth it because in the long run, it is going to save me so much time and energy. And I will be elevated to work in the right places in my business to places that actually move the needle forward. Trust me, once you experience the relief and the increased productivity that comes through delegating, you are going to wonder how you ever managed without it. Read the chapter in my book about asking for help. It's called Pride's Utter Chokehold.

11:54That was me. And I want to introduce you to a new way of living and doing business. Number two, you can let the pros handle the operations. When it comes to running your business smoothly, sometimes it is best to leave certain tasks to the professionals. That is where professional services come into play. According to this survey conducted by Clutch, 74 % of businesses believe that working with outside experts enhances the quality of their work, whether it's accountants or marketers or legal professionals. Their expertise can help you streamline your operations and take a lot of the weight and responsibility off of your shoulders.

12:35Let's start first with the numbers game. Financial management can be a true headache, especially if you are not naturally a numbers person. That's where someone like an accountant or a bookkeeper can be an absolute lifesaver. By bringing in this expert, you can offload the tedious tasks of managing your finances or handling your taxes or keeping track of all of those receipts. They'll help you navigate the complexities of accounting, ensuring accuracy, and saving you precious time that could be better spent on growing your business. Here's a fun fact. Before I'd even made a single dollar in my business, which wasn't even a business at the time, I went to an accountant.

13:13I walked into this little red brick building in the village that we lived in in Wisconsin at the time and said, I'm thinking about starting a business? What do I need to do? And if I could hug my 22-year-old self, I would because that was one of the smartest things I did from the very beginning. Now, I took accounting classes in college. I actually have an understanding of the mathematics of running a business. In fact, I was a mathlete growing up. I love math. I love numbers. Numbers give me clarity and confidence. However, that is not where my time is best spent. And I am not an expert at tax laws or different ways to file as a company.

13:53I don't want to be an expert in those spaces. And so having those professionals in your life as advisors, as people who you are contracting can totally take a lot of the stress off of you, but also can save you a lot of time and money and energy in the long run. I always look at any money that I'm spending on an accountant. I am likely making or saving so much more money because they know so many things that I do not know. Now let's also talk about professionals, maybe in marketing. Marketing is key for getting your brand out there, but it's a whole different ballgame that also can require expertise.

14:30And maybe that part doesn't come naturally to you. There are marketing agencies. They know the ins and outs of advertising, branding, and reaching your target audience, whether it's creating great ad campaigns or managing your social media presence or developing a solid brand strategy. Hiring in a professional like that could take your marketing to the next level, which again could give you more time to focus on your core business. We could also talk about legal matters. That could be another maze that you're navigating. Contracts, compliance, and all of the legal jargon that can really feel scary and overwhelming, especially if you don't have a legal background.

15:04That is why it is wise for you to seek out professionals in the areas that you need help with. Maybe it's reviewing your contracts or intellectual property protection or staying compliant with industry regulations. Having an expert on your side can give you peace of mind and can ensure that you are on the right side of the law. Whatever that looks like for you, utilizing professionals can help you tap into specialized knowledge and skills that will help your business thrive. These experts have spent years honing their craft, staying up to date with their trends so that you do not have to. They bring this level of professionalism and expertise that can make a huge difference in the success of your business.

15:43So again, as you start to audit, where is my time going? What do I not know? What do I find myself researching? Where am I uncertain? Where am I lacking clarity and confidence? This could be a really great spot to bring in a professional. And honestly, what I've seen in my business is that anytime I'm investing in a professional, the work that they are doing yields greater results and rewards than the expense that I am spending. And it also gives me that clarity and confidence that I am working with someone who knows this better than I do. So do not hesitate. If you are finding these gaps in your business or in your personal knowledge, Hiring professional contractors can save you time, can give you valuable guidance, and can help you navigate some of the complex areas of your business that maybe you weren't prepared for.

16:36Remember, you do not have to do this all alone. Let the professionals step in, do what they do best, focus on what you do best, which is growing and building your business. Looking for a new podcast to add to your weekly lineup? Check out Entrepreneurs on Fire, hosted by John Lee Dumas. Every week, JLD and his guests share practical strategies to fire up your business journey and create the life you've always dreamed of. No matter what goals you're digging this year, Entrepreneurs on Fire will inspire you to take action and give you the tools to get there. JLD has interviewed over 3 ,000 incredible entrepreneurs, including Seth Godin, Gary Vaynerchuk, Barbara Corcoran, Tim Ferriss, and so many more, including yours truly.

17:19You are bound to find the topic or the guest you're looking for. I loved his recent interview with Tyler Wagner on how to become a successful author. I honestly wish I had heard that episode before I promoted my book. Listen to Entrepreneurs on Vire wherever you get your podcasts. I think you'll love it just as much as I do. Can you believe that we're already wrapping up 2025? This year was packed with travel and so many new memories. One of my favorite moments was our team retreat in Arizona with the incredible women who helped me keep this business running. I also recently took the kids to Nashville during fall break and somewhere in between I squeezed in a trip to Puerto Rico with friends.

18:00We booked some of our most memorable stays this year on Airbnb. There's something special about finding a place that doesn't just look great in the photos but actually feels welcoming the moment you walk in. That this feels right kind of feeling. If you've got trips coming up, whether it's a family vacation, a retreat, or a work trip, your house will probably be sitting empty while you're gone. Have you considered hosting your home on Airbnb and letting it work for you? It's a simple way to earn some extra income that can be put towards a future trip or home improvement projects. Your home might be worth more than you think.

18:35Find out how much at airbnb.com forward slash host. Look, I've become kind of a systems nerd. and anything that gives me more space in my day, I'm all in. And a reliable connection is a huge part of that because when the internet lags or cuts out, everything pauses and suddenly the simplest tasks take forever. I learned really early on that dependable internet, it's not a luxury, it is a must. Whether you're a content creator like me, a restaurant owner or running a busy dry cleaning business, you need that steady connection to support your team and your clients. That's why I'm excited to share a solution for my fellow business owners.

19:13Spectrum Business keeps businesses of all types connected with internet, advanced Wi-Fi, phone, TV, and mobile services, all with connectivity solutions built for your budget. And they have a truly incredible offer. Business owners can get free business internet advantage forever when you add four or more mobile lines. It's simple with no contracts and no added fees. Visit spectrum.com forward slash free for life to learn how you can get business internet free forever. Restrictions apply. Service is not available in all areas. Okay, number three thing that you could be trading your money in order to get back your time is through using technology for your benefit.

19:56When it comes to boosting efficiency and saving time in your business, technology can become your best friend. Embracing the right tools and software can work wonders in automating those repetitive or time-consuming tasks that eat up your precious hours. You know, when I was a solopreneur, I actually didn't invest in very many like softwares. I had no project management system, which is probably why I was highly overwhelmed and stressed out. So let me share a couple examples of ways that we are using technology and investing in technology in a non-scary way that is saving me so much time. So first is our project management software.

20:37So we use monday.com. I am obsessed with it. If you want to see how we use it, go to jennalovesmonday.com. That's jennalovesmonday.com. We incorporated this project management system about four years ago when I first hired my amazing integrator, Marisa. And she picked it out and we have stuck with it ever since. There is always a tab open on my computer for monday.com. But basically what it does is instead of juggling a million sticky notes, to-do lists, spreadsheets, email chains, you can streamline all of your workflows and projects and keep track of all of the progress in one place. Project management tools allow you to create tasks, assign them to team members, set deadlines, have reminders, and you can monitor the status of every project that you're working on.

21:25It's basically like having a virtual assistant to help you stay organized and ensure that everyone is on the same page. So again, we use Monday. We love it. One thing that I love about Monday is that my team can assign me different tasks. So I have this ongoing to-do list that I can see so that I never sit down and wonder, okay, what do I need to get done today? But I also love it because if we're doing like a big project in our business, like preparing for a launch, I can look at our launch board and see exactly where things are at, what we're working on, what the priorities are. And it allows us to have that peace of mind that we are working on the right things at the right time.

22:02So if you are a solopreneur, or even if you have a small team, having a project management software that you are leaning on can be a total game changer. And it can really transform how you work through projects and the end results. Another way that we're using technology is with social media posting. Did you know that in spring of 2023, Instagram added an in-app scheduling feature that can allow you to plan and schedule your posts out in advance native to the platform. After you've uploaded a photo or a video or created your caption, simply scroll to the bottom of the screen and there's advanced settings and you can schedule a post.

22:40You can just switch that little toggle to on and select a day and time for the post to go out. Then you can go back to the previous screen and your share button in the upper right corner has turned into a schedule button. This can be a total game changer for business owners so that you can maintain a consistent online presence without spending all day on social media. Again, this is just a very simple way for you to work more effectively. So for example, with our gold digger Instagram feed, we know the frequency and the flow of the content that is coming out. We can schedule those posts and then follow up behind them and engage with you guys on those.

23:17But even just being aware of how technology is changing and what is possible inside of the platforms that you're likely already using can totally save you time. And another way that we're doing this, which is more of an investment financially is through AI. I recently recorded an episode on the 10 non-intimidating ways for you to use artificial intelligence in your business, which you can listen to at jennacutcherblog.com slash AI. That link is also in the show notes. You can listen to it after this episode if you missed that one. But the beauty is that technology is ever-evolving. There are constantly new tools and software being developed to address specific business needs from communication and collaboration platforms like Slack or Microsoft Teams to support systems like Zendesk or Freshdesk.

24:03There is likely a tech solution for just about everything. When it comes to AI, I've been using chat GPT so much. There are so many different ways that we've been using it within our business, from creating job descriptions for new hires to navigating different trends in different spaces that we're working in to figuring out the priorities of how we want to communicate different messages. We've also been looking into a few different AI technologies that can help us with this podcast, whether it's getting fast transcriptions of the episodes or finding the perfect clips for social media. AI and just the world of technology is ever evolving.

24:39And again, this is a place where I have found that as I invest in specific tools, I can do specific things. My time is absolutely freed up. And with that extra time, I can enjoy life or I can go out and earn more money, making that investment highly worth it without a doubt. Do not be afraid to embrace technology or to see if there is a technological solution to any sort of problem you're facing. it's like having a team of digital assistants that can help you with things like automating tasks, streamlining workflows, communicating to your clients, and it can help you free up your time so that you can do the things that really matter.

25:18Number four is outsourcing household chores. Let's talk about lightening your load when it comes to your home and your environment. We all know that managing a business can be very demanding. And the last thing that you need is to be overwhelmed by endless to-do lists around your house. That is where outsourcing some of those household tasks can be a total game changer, which can give you, again, the freedom to focus on what truly matters to you. According to a study conducted by the American Cleaning Institute, Americans spend an average of six hours per week on cleaning and doing household tasks.

25:55Instead of spending your precious weekend scrubbing your floors or dusting your shelves, have you ever considered what it could look like to hire a cleaning service? They can come in, work their magic, leave your home sparkling clean while you are taking care of business or enjoying some well-deserved downtime. It's kind of like having a cleaning fairy that waves your wand and makes your house shine. It's really interesting because I was very resistant to getting help around the house. There is something... I'm literally unpacking it within myself because I am very prideful of like, we don't have childcare support and we do this all on our own.

26:31And sometimes I'm like, is this like an unhealthy obsession of saying like, I can do it all because I can't. And we hired the help of house cleaners. And so we have these two amazing women who come over every other week and they do a deeper clean on the house. And here's what I've learned so much is that it is one of those things where it's like, of course, I can do this, but do I do this? And in doing this, do I enjoy it? And the women that come and clean our house, I adore them. They love it. They have so much fun. This supplies them income to help support their family. And it is their pleasure.