Time is Money: Use Money to Buy Time to Make More Money
As a self-employed business owner you have one goal. You want to achieve financial success. However, what that entails will be different from person to person. One person may be happy with simply covering expenses and enough for a little fun now and then.Another may be set to acquire wealth.
Regardless of what your goal is, you need to work towards developing a passive income. This is an income stream that will continue to flow regardless of whether you are working or enjoying a day with the family. Knowing this and achieving this are completely different ideas. The fact is that starting out, you will need to work a lot. The old saying that time is money is quite accurate in the beginning of your business. So if you truly want to see success you need to be able to use your money to buy time. The end result is that you can make more money and hopefully meet your goals.
That statement often leaves a lot of people confused. How do you buy time? If it were that simple wouldn’t people everywhere buy as much time as possible? I mean you do not want to waste any more time than you have to. So why not buy a little more and you have enough for work and for play. It’s not really as simple as it sounds. You cannot walk into a store and purchase that much needed time. Yet having it will give you a way to build up more money and a greater chance at the passive income you need. That could result in the money you want while giving you the time that is so precious.
So how do you buy time? There are a myriad of ways you can do this. You can put forth the cost of operating and living for a period so that your time and the money you earn is not going directly to support you. That will free up time to devote to meeting your goals. You can also find other ways that will free up moments you would be involved in other tasks. Hire an assistant to take care of chores you do not have time for. Spend a little to treat your family to dinner rather than having to worry about cooking. You can even hire someone to clean your home while you are building your business. Chances are there are a multitude of things you do in a day that someone else can do for you and all you need is a little money.
While it may sound silly to say that while you are a struggling start-up you should be spending money on frivolous services. However, take a look at your day. How much of your time is spent working and building up that business and how much is spent on tasks that do not reward you? If you find that you are using a lot of time and not making nearly enough money, rearrange your priorities. Chances are you will find the time you need and soon you will have plenty of time and money on your hands.