Productivity Tips Day 2| Time Is Your Most Valuable Asset
Yesterday I wrote a blog about how to put an end to procrastination.You can read it here:
I decided to create a series of six posts about the subject of productivity. My goal for this series is to help you improve your online business income.
HOW YOU SPEND YOUR TIME DETERMINES YOUR INCOME
Wikipedia defines productivity as a measure of the efficiency of production that is often expressed in terms of the ratio of output to inputs. In the case of an online business entrepreneur, the result of our daily productivity should be an increase of income. How we spend our time will ultimately determine our income.
In order to have income from my online business activity, sales must occur. If I have no sales from my efforts, my time has a unit value for the day of zero. In other words, my productive output is eight hours and my input is zero. Therefore, I have a ratio of 8:0.
If you are just starting out as a new online business developer, do not be discouraged. It takes time to grow organic traffic to your website.Take heart, there are a number of ways to improve traffic to your site some of which require time and effort and others of which require a small investment of money.
In the initial stages of building a business, we expend our time as an investment into what we hope will bring us income for years to come. Trust me, if you are willing to spend a few months of your time into producing a money-making asset, the time you spend will have a monetary value attached to it.
In today’s post, I want to share with you a most valuable lesson gleaned from one of my multimillionaire mentors, Keith Cunningham. In subsequent posts, I will share some valuable tips for turning your time into money.
TIME IS YOUR MOST VALUABLE ASSET
First, let’s re-frame our thinking about time.There is no such thing as “time management”. Every person on earth gets the same amount of time to use each day. How we use our time is a simple matter of how we choose our priorities and how we follow our life purpose.
Granted if our life purpose is unclear, our goals will not be clear. If our goals are unclear, our direction for using the daily time we are given will be unclear.
(If you are unclear about your life direction, I have a post to help you:
https://my.wealthyaffiliate.com/rebeccas/blog/abundant-thinking-day-5-the-power-of-purpose )
Keith Cunningham, once asked me, “Which do you consider to be more valuable, money or time?” At the time I had a lot more time than money so without thinking I blurted, “Money.” Keith who is a self-made multimillionaire, and by the way, the inspiration behind Robert Kiyosaki’s book, Rich Dad Poor Dad, went on to explain why time is the most precious asset to self-made multimillionaires.
A SIMPLE LESSON ABOUT TIME AND LEVERAGE
Keith taught me that money is available in abundance to anyone who is willing to trade their time and life energy in exchange for receiving it.He went on to say, you can exchange your time as an employee and work to help others fulfill their vision or you can get even greater personal results with your time by working for yourself to realize your own vision.
There is an abundance of ways to make more money but everyone gets the same amount of time. If you lose money on a deal you can always make it back. But if you waste time, you can never get it back. Therefore, time is your most valuable asset.
Self-made millionaires are productive with their time. They don’t work for money. They make money work for them by being more productive with the time they have. What they can do, be sure, you can do!
The concept of making money work for you is called “leverage”. Just as you can leverage money by investing it wisely, you can leverage your time by getting rid of time-wasting inefficiencies and using your time more productively.
That’s it for today.Tune in again tomorrow for “Rich Time, Poor Time”. Please chime in with your comments below.
Recent Comments
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Rebecca, I just love this, and incidentally, I am familiar with Keith Cunningham too, but hadn't thought about him in a long time. Is he still with us, do you know? Such a wonderful, wise, well-grounded gentleman! Keep these posts coming! I'm learning a ton! :)
Thanks for your comment, Patti. Although it has been a couple of years since I spoke to Keith (last met with him briefly after his speech given to a group of business coaches at a convention), from what I know he and his wife Sandy are living in Austin, TX where he is enjoying his calling as a teacher. Keith is one of the most common sense mentors I have ever had.
Thanks so much, Rebecca. I've been replaying some of his tapes, thanks to your reminder. I'm so glad to know all is well with him! He is a survivor and a true example of "never say die."
I'm so glad you are doing these, Rebecca. Thanks! I like the ratio idea. Hours worked (be honest here, people!) to sales earned/ with the realization that at first it's all hours and no sales. Eventually almost zero hours, plenty sales.
Could also do the ratio hours in, money earned.
Yes, Dr. Diane...I see you have a great understanding of setting up passive income streams. Wow....do you have a lot to offer with your background in medicine...I will look forward to hearing from you one year from today.
I am amazed at many who become very successful with their online business models after a year or so of concentrated applied learning and effort. Thanks for your very insightful comment!
Thanks Rebecca. I always enjoy your posts. It's difficult to focus the right amount of time to a particular task, especially when you are on a learning curve. WA helps with its lesson sequence, but we are all at different skill levels. The other part of the equation is energy. What energy level can you deliver to the task within the time you have. Some of us older folk aren't quite the perpetual motion machines that some of the younger crowd are.
My dears Doug and Debbie...I am happy that you found this post. We are all in the same boat when it comes to learning. After all, isn't that what life is about?
You dear ones are at a perfect time in your life when you have had the benefit of years of life experience and wisdom and can now use your enormous wisdom to benefit others.
Life will only give you 24 hours in each day. The way to make the most of your time is to determine how much to spend on learning, how much to spend on creating, how much to spend on basic matters of family life and how much to spend in rest and enjoyment.
As I have gotten older, I too have realized that Father God wants me to enjoy life to the fullest and prosper by sharing the wealth of my wisdom and abundance with all. The key is in trusting dear Father to supply your needs and give you strength to carry out your destiny. Does that make sense dear ones?
I agree. If you lose money, you can get it back. Lose time and it's gone forever. I'm working at my time management skills. Some days are better than others. Great post, Rebecca!
Thanks Carla. Yes, indeed we all have some days that are better than others when it comes to prioritizing our time. So glad you enjoyed the post and I hope you stay tuned in for the next few in my series.
You are a real winner, Carla.
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That was GREAT, Rebecca! Time IS so important. With a dollar and time (theory of compound interest), you can end up with a lot of money. BTW, nice spin on Rich Dad, Poor Dad. :-)
Thanks, Debbi...I appreciate your comment. I learned a lot from Keith and others over the years. How we prioritize the use of our time is one of the key factors for success in life.