Revenade sales leaders discuss the cost of your minute and time management skills.Transcript

Hello

and welcome to the sales experience, a semi-monthly podcast where we reach our

insights, lessons and best practices from top sales leaders. Each episode will

provide experience-based information that you can look by to help your company

grow its top line.----more----

Stephanie:    Hi my name is Stephanie Jordan and I will be

your host and moderator on your journey through the word of sales. To kick

things up today I will be talking to two of Revenade’s sales leader about the

money value of time. But first let’s start with a brief look at this day in

business history where we highlight the key events that’s took place on this

day.

Stephanie:    On this day in history in 1968, Boeing rolled

out his first 737 aircraft paving the way for commercial flying as we know it

today. The 737 made such an impact that there are 1,250 airborne at any given

time on average. This means two are departing or landing somewhere in the world

at any five seconds. Today the 737 is the bestselling jet airliner in the

history of aviation. I would definitely call that a great business innovation.

Stephanie:    Now I would like to take a minute to

introduce Scott Williamson and Tim Phillips from Revenade. Both Scott and Tim

have been featured on previous segments of our podcast and we are so glad to

have them back again. Thank you both for joining us.

Scott:             Thanks a lot Stephanie.

Tim:                Stephanie, good to be with you.

Stephanie:    Well, Scott and Tim, there is one thing that

holds true all across the globe 365 days a year, there are only 24 hours in a

day. How each person decides to spend those 24 hours is completely up to them.

But today I will like to talk to you two about time management and specifically

the money value of time. First, why don’t you talk to me about what the phrase

“money value of time” means to you?

Tim:                Sure I will be happy to,

Stephanie. Great question. It’s an unusual phrase and what it really does is it

plays off of the fact that we all know what the time value of money is. We may

have been in a financial analysis class or investment class, and in there we

learned that a dollar today is worth more than a dollar tomorrow. It’s the

basis for all compounding but also for discounting future cash flows so we

could make financial decisions. What it really means, though, is that we turn

that and talk about the money value of time. 

And you mentioned the word time management as one of the things we are

going to be talking about today. When you really talk about time, time is only

the truly non-renewable resource that we have and frankly we can’t manage time.

The only thing we can do is to make a decision on what activities will we

invest our time in and so when we tie that to the money value of time, what

activities will we invest our time in that are going to yield the highest

result in the shortest period of time. That could be in terms of sales or

return on that investment and so that’s why we use that term so frequently, “the

money value of time.” It really helps give us a good mind-set and how we are

investing our time and to be very judicious in that.

Scott:             Yeah, I think that a really good

point in that far too often, especially in the corporate world we see people

looking at their effectiveness based on how many meeting they are on. Like “I

am so busy I have got meeting after meeting,” and they confuse activity as

being a measure of value instead of results. So I think Tim’s phraseology here

about the money value of time really puts the emphasis on the fact that let’s

look at the things that we have to do and think in terms of which of the things

that I’m doing today can I order based on the priority of whether or not those

are going to turn into results. So instead of focusing something like hey let’s

get it in terms of “hey let’s get toge