Today I read a blog that very clearly states the delegation thing I was talking about the other day. Sure you could do everything yourself to save a bit of money in the short run but in the long run that type of thinking will cost you your potential. This is what AJC said on the 7million7years blog today.
Trading time for money is exactly the wrong way of looking at it: time is a finite resource; money is an infinite resource, why trade the finite one for the infinite one?
In other words, they keep printing money, but nobody is giving away more time.
So, every time that I can find an opportunity to ‘buy’ time with my money that’s exactly what I will do.
It’s why I give my shirts to the drycleaners; my mowing to the landscapers; and my property management to the experts. It’s why I outsource practically everything to do with my investments, too – except picking the investments themselves, or managing any issues to do with risk.
If I didn’t outsource my property management, I would eventually stop buying real-estate because every property that I bought would add to my workload, and who wants to do anything that makes you have to work harder?
So, I may lower my return on each property somewhat, but I reinvest the ’saved time’ into purchasing more investments … the whole shebang is much greater than the parts.
If you want to be a successful business own the employee mindset and the frugal mindset will hold you back. It has for me, I see it now that this was one of my biggest mistakes, that is why I talk about it so much.
There’s even a formula that ‘proves’ that Time = Money and how much it means for YOU:
http://archives.cnn.com/2002/TECH/science/05/29/time.money/
Thanks, Jason!
AJC
Yes…..the problem is that he assumes it is linear. See for people like us there may be a hour that is worth $10,000 easily, and then hundreds of hours of relaxing and such that is worth much less. I may make $10,000 in one hour, then a day later I may pay $10 to spend 3 hours watching a movie.
I like at the end of the article he talks about how, as people earn more, they start to hire people to do jobs they don’t want to do.
time and money, in my idea time is more importan then the money because if you have time you can do alot things that you can, you can relex , you can study , you creat abusiness , you can do what you. money is not so important because money can be loss or your money can decreas , money is unlimited thing , if you have amoney and you don’t have atime you can’t do any thing. that is my idea you agree or des agree
The to day people are worring about their time and the developing world are very interesting time , money you can get but time you can’t get , one day left you can’t see another time, that is the why time is so important than the money. look at the people around the world they always say i have no atime tommorow, they always think how to manage their time.