This is so frequently misrepresented which makes it harder for those who don’t really value their time properly wrap their head around the concept. I have literally had a friend try to argue that time was time and money was money. As this dude had been a homeboy of mine for many years, I went ahead and quickly let it go and moved on as he had no desire to not work for the man anyways. He was constantly paranoid that he would lose his secure job working for the man at the post office.
Ok… so, the idea is that of course time isn’t literally money… you cannot trade time as currency… or do you do that already? Come on, most of us have done this regularly at some point in our lives and some of you still are and are hoping to grow past that… It is called a job… You are trading your time for a paycheck. That is what money is… in an essence… it is stacks of Ben Franklins that theoretically at one point were a physical representation of some currency that was held at the US Mint… now there are people who debate the validity of that idea for a plethora of reasons… but this is not the forum for that…
When an entrepreneur, business mogul, or growing business owner says the phrase “time is money,” they are referencing a value that they place on their time. The importance of this is when you are deciding how best to manage your time. When you in the early stages and growing your business, you are doing everything on your own; it all falls on you. As you grow and get revenue coming in, and the business begins to thrive, there are much more things you must consider.
You have got to ensure that you are utilizing yourself at your optimum potential. I have watched several people I have known who ran their own businesses miss the mark on this one. They see things as they are successful and making money, they must obviously be doing it right… right?… Not necessarily… There could be more you are missing. I knew a very successful business owner years ago… I helped him many times with his business. He had a reselling business, and he was quite the hustler. He truly was great. He would find things al over town and in neighboring cities for practically nothing… I never knew how he did it… none of us did. The thing was that he lacked organization… or not that he lacked it, he just said it wasn’t important. He could organize when he wanted to… I had seen him do so many times… He just said it wasn’t important. It extremely slowed down his process to be so out of sorts all the time. He was no doubt successful but had aspirations of bigger things… It was ultimately his lack of focus that held him back.
The key again is to know your worth. I had a partner whom I did business with for a good while long ago that would always preach about how he just wasn’t willing to waste time on doing things that were beneath his pay grade. He was extremely successful as well but didn’t really much desires to run his own business because of such things. He had tried to start multiple businesses and when it came to the leg work that is needed to get it going, he just wasn’t making enough money… He was taking this principle to far as it was making him short-sighted. He wasn’t seeing the value in putting in the work to get the business going. He made too much money in commission making sales as he was a huge closer that he just couldn’t give in to the basics.
The idea truly is knowing what you value yourself at… but not losing sight of getting the business going in the first place. Now that you have your thriving business, don’t hesitate to get help, outsource, hire someone.
Why do something that earns you $15 and hour when you know you could easily earn $100 if you were doing something else. That is about as real as gets. If you can earn $100 an hour or even more… which you on your way… then there is no need to do the time-consuming work that earns you $15 an hour.
Time is money… Earn more…
beingcoreybayless 