“Time is free, but it’s priceless. You can’t own it, but you can use it. You can’t keep it, but you can spend it. Once you’ve lost it you can never get it back.”
No matter what business you’re in, never forget that time and money are your two most important business assets.
It’s called a “paradigm shift“… a radical change in your view of the world. It’s roots are in the scientific community – where radical discoveries lead to paradigm shifts. An example of a paradigm shift…the world is flat – OH NO!- now it’s round! To quote Weird Al, suddenly “everything you know is wrong.”
I had my own paradigm shift several years ago and it was the result of a message on an old style online bulletin board. The words were amazingly simple – yet they rocked my world….
You can always get more money – you can never get more time.
Prior to reading that statement – I’d been running my business in reverse so to speak. I’d been operating like I had all the time in the world. I’d spend hours performing a task instead of buying software to automate said task. There was virtually no limit to the amount of time I would invest to save a little bit of money.
I’ve since learned that this mode of thinking is also referred to as a “poverty mindset”.
When I began operating my business like my time was more precious than money – a surprising thing happened – I began making more money!
I had been fooled by the fact that time is free.
I had failed to realize that while time may be free, it’s also priceless.
Often, in the course of building a business – we’re faced with the dilemma of trading time for money and money for time.
- Should I hire a lawyer or should I try to create my own articles of incorporation?
- Should I hire a CPA or do I handle my own taxes?
- Should I design my own logo or should I hire a graphic artist?
In the early days of your business – it’s a given that you’re going to have more time than money. However, don’t make the critical mistake of not understanding the importance and value of your time.
Time may be free – but it’s also priceless.
Which brings up yet another “gem” saying I’ve come across in my internet travels …
“You’ve either got plenty of time or plenty of money. If you’re lacking both – then you haven’t spent either wisely.“
I’ve got to admit – I didn’t LOVE that saying when I first read it. To be honest, reading those words for the first time almost made my eyes water- that’s how badly they stung! However, over time I’ve grown to love those words and the accountability inherent in them.
How effectively are you using your two most imporant business assets?
If you don’t like your answer to the question above – check out Tom Volkar’s post on getting on “right track.”