You want to work less. You want to make more.

Each business has its own formula for success: the million dollar idea hustled to the market on the back of a racehorse, the perfect location with heaps of sweat equity and an edgy, hip style, or piles of cash partnered with well-seasoned professionals. One factor equalizes all ventures: you and your competitors all have 24 hours in every day. Time equalizes all other advantages.

A key to improving the bottom-line is to know the true cost of your product. A portion of every product or service sold is time. When you take into account the time it takes to bring your product to the market, you have the power to make more money.

Still not convinced that tracking time is important?

When was your last full weekend off of work? You can’t remember? How long do you think you can do that before you burnout? I challenge you to find out more about your time spent. Track your time and categorize it by business elements. At the end of each week, analyze how you are spending your time. With this powerful knowledge, you will be able to see what you can delegate, outsource, or do less of, which translates directly to less work.

What you do with your time, and the time of your team, determines how successful your venture will be. Use the equalizer to your advantage—use your time for what you want to achieve.