One of the most simple concepts, but sometimes hardest lessons to learn by experience, is giving away, and or spending too much of our time on people, places, and or things we shouldn’t have. ⚖
I do realize that many people besides myself struggle with this, and most don’t ever break the habit! Being a busy Entrepreneur, this can be detrimental! ☠
I want to share with how my mindset changed on this subject. You’ve probably heard people say “time is money”, “my time is valuable”, or something similar. This is pretty common of people across many industries. However I realized that most people don’t think about the fact that the concept of “time is money” goes much deeper than what most people really think.
Think about it this way, no matter where you are getting money from, whether it be a business, job or otherwise — you had to “spend” your time, to receive that money. Literally, when an employer pays you, they are giving you money that you agreed your time was worth down to the hour.
I would like to note that this also applies to “automated” systems as well. You had to spend some time to setup the money coming in on autopilot, the difference is that your ROI or “Return on investment” is probably spectacular. Minimal input, maximum output!💰
To break this down a little more on a more practical level in our daily lives… When you answer that phone call, message, email, respond to that comment on social media, or even just speak with any person about the — You’re actually engaging in a transaction of time. You are “giving” or “spending” your time, and receiving somebody else’s time.
You can imagine that if you’re time is very valuable, some transactions could give a pretty bad ROI. So what happens when you’re giving away too much of your time, and the time you get back isn’t worth as much as what you gave/spent? Also, what happens when you spend too much on things that don’t bring money back into your life (investments) or things that you didn’t need? Well.. if it didn’t bring you happiness in exchange for your time, then you’re wasting time. In other words your ROI is bad.
If you start thinking about the concept of money equating to time, or even just making sure the value we are getting back for our time spent is equal or greater than what we give, then this concept can change your life.
The trick is to know what your time is worth, while remaining humble. 💡