The Importance of Time For Entrepreneurs
by Robert Levin for Forbes Online
File this under one of those really important things that they don't teach you in business school: As an entrepreneur, how you look at time can make the difference of whether your company is worth $1 million, $10 million or $100 million.
I first met legendary entrepreneur Norm Brodsky when I started The New York Enterprise Report and called him to get some feedback and advice on my new business. When discussing the options for building the readership base, Norm deduced that it was critical to build a quality subscriber list as fast as possible. Because I could charge advertisers more when I had more subscribers, the quicker I built the subscribers, I could generate more revenue, sooner. Also, as larger advertisers won’t bother with small publications, I could draw more of them when I got to a meaningful number. In starting my first venture, I was quite patient -- maybe too patient, and Norm sensed that.
Since then, I have paid a lot of notice to how I look at time. Here are five areas in which time plays a major role in the degree of success for business owners...
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