TIME
VS. MONEY by James Ray
"There
are only two things you can do with your time...spend it...or invest
it."
Think
about it, you and I can spend our money and we will always get more.
However,
if you spend your time...it is gone forever. Consequently, time is more
valuable than money.
Entrepreneurial
thinkers value their time – they know what they are worth and are
continuously
cautious about how they utilize this precious asset.
One
of the most common downfalls I observe with would-be achievers is that
they want to be six-figure income earners but they are constantly
SPENDING
their time on low-leveraged activities. This kind of behavior is
putting
them on hot rails to failure and disappointment. In other words...their
goals are never going to be achieved.
You
must know what you are worth and continually ask yourself, "Is the
activity
I am involved in going to give me a return on my time, equal to or
greater
than my hourly worth?"
Here
is an exercise that I have my personal coaching clients complete:
Take
your annual financial goal and divide it by the number of months that
you
work per year. This may not necessarily be what you ARE working now, if
you have a flexible schedule it may be what you WANT to be
working.
Now
divide that figure by the number of weeks you work per month –
the number
of days you work per week – and finally the number of hours you
want to
work per day. You now have your hourly worth per hour based upon where
you are headed versus where you are. The key to success in this
exercise
is to set a financial goal and work back from there.
"Success
comes from taking action based upon where you are going versus where
you
are."
Let's
assume that after this exercise you are worth $100 per hour based on
your
goal. From this day forward you must ask yourself, "Is what I am doing
right now worth $100 per hour? Is it going to give me a $100 return or
better on my time investment?"
If
the answer to either of the questions above is "no" then you should not
be involved in the task or activity. This does not mean that it should
not be done – just that it should not be completed by YOU –
or at minimum
it should not be done during business generating hours.
How
can you delegate, reschedule, off-load, rearrange or otherwise deal
effectively
with your "low-leverage" activities? How can you complete them without
SPENDING your time to complete them?
Answer
these questions, put them to action, and you will see your business and
your results skyrocket. You will find yourself involved only with the
key
activities that will move you in quantum leaps toward your goal!
Invest
your time...and make your life magnificent!
Continued
success,
James |
