Working for an hourly rate, doing a task, or exchanging your time for money, is time spent. You can never get it back.
Unsuccessful people spend most, if not all their time ‘spending’ time. Leveraging, leading, inspiring, influencing, managing, outsourcing, networking, training and building systems are all examples of time ‘invested.’ Time invested is continues to earn or leverage long after that task was completed.
Buying a property in time invested (and money invested). Become aware of where you are spending all of your time in one of the 2 areas above, spend less time, and invest more of it. Passive income comes from time invested. Dividends come from time invested. Salaries come from time spent.
There’s nothing wrong with exchanging time for money. When you package deals, you can earn a lot of money pre deal or per hour. That can get you on the road to being wealthy.
It serves its purpose. But you’ll never be time wealthy unless you invest time for residual returns.
When you’re busy, perhaps the first thing you think is ‘what do I need to do?
Or ‘I’ve got so much to do, where do I start? Well try this: Next time you start your task or to do list, instead of starting with a task, start with what you can leverage or outsource.
Who can you get to do the first task you were going to do. And the second, and third. Out of 7 tasks for the day, if you leveraged 4 of them, and you do 3 of them, you’ll achieve more than double the results in less than half of the time.
Once you have leveraged out tasks you would ordinarily have done yourself, they don’t just magically arrive on your desk the next day in shiny wrapping paper. Any task ‘leveraged,’ needs managing through to completion (time invested).
Check through your leveraged tasks and manage them accordingly, and only once you have gone through these 2 steps should you consider ‘doing’ a task (time spent). A few small hours moved from doing to leveraging, from time spent to time invested has huge compounded benefits.
And if you’re too busy to invest time, that’s probably the very reason you need to do it. And if no one can do that task or job as well as you, that’s probably the very reason you need to do it too.
Leverage: Taking the smallest action that will yield the largest result.
Goal is first effectiveness, not efficiency.
Mark Homer