We’ve all heard the saying that ‘Time is Money’. But so few people actually appreciate the true power of this. You see, time and money are not interchangeable. It doesn’t matter how much money you have, you can never buy back yesterday. But if you spend your time wisely, you can always get more money. Which brings me to the whole point of this post.
So many business people think that spending money to free up time is a ‘cost’, an ‘expense’. If they pay $50 so they can have an hour watching the kids play basketball, where’s the profit in that? Something that will take away money, without a financial return. But that couldn’t be further from the truth.
Time is valuable
Just think if that was the hour that their kids first scored a goal, first made that great pass, or showed some great sportsmanship? And instead of hearing about it late that night when they are sitting exhausted on the coach after a long day at work, they are sharing the memories of it first hand with their children. And the children know that their parent was actually there to see it (unlike most other parents stuck at a job they don’t enjoy). Of course, there is value in that. And it’s worth way more than $50! But that’s only a part of it.
We’ve all seen or heard of it. People who spend hours and hours travelling all across town to save a few bucks on something they want to buy. How little they value their time.
Poor people spend time to save money; Successful people spend money to save time!
Time is Money
The extension to the quote above is the game changer. When those successful people have spent some money to save time, they invest some of that time into ways to make more money, and they get back way more money than they spent at the start. Their time is money, and much more of it, because of how they spend it. How they invest it.
So then they can spend more money to save more time, and so on. They know that if they had an extra day every week, they could spend half a day with their family or doing things they value and enjoy. And they can spend the other half a day getting new clients, putting new deals together, developing that thing that people will value highly and be prepared to pay well for. It’s an upward spiral, and there’s no real limit to how far you can take it.
So next time get an hour or a day of free time (even if it is because someone cancelled on you), you could fill it with the average stuff that most people would do. Or instead, you could invest it in high value activities. Have a serious think about what you could really achieve, if you have an extra hour every day and an extra day every week of free time. Just imagine how much money you could make with even just half of that time AND how much better your lifestyle could be with the other half of the time.
It gets you thinking, doesn’t it?