Oct 9, 2022
Advice to entrepreneurs, always pay yourself in terms of time, and you will learn how much time is really worth.
Here is a story.
At a break in a workshop a bunch of people were going to eat at a restaurant a few kms away. Everyone whipped out their phones for Uber. It’s better, faster, and cheaper than Taxis, right?
Well, not so fast, Jose'.
In this case, it was the opposite.
15 minutes or so for Uber, yet there were 3 Taxis right out front the hotel.
“I always use Uber,” one of them said.
Sigh.
Look, I have nothing against Uber.
That’s not the point here.
Lack of awareness of time.
The point is, here was this small bunch of entrepreneurs who thought saving 80 cents or whatever was more valuable than their time. Yes, I know it was just 15 minutes. But it’s not the amount of time that’s the problem here, it’s the corrosive effect not valuing time has on people.
This mindset carries over into business, too.
I see it all the time.
Like people who spend weeks stuffing around with WordPress instead of hiring it out to a trained pro to “save money.” Or the monkey who spends hours each month trying to do their own taxes and bookkeeping instead of having someone who’s versed in the ways of audit/asset protection do the deed to, you know, “save money.” Or the newbie who changes his own oil, mows his own lawn, and cleans their own office (instead of outsourcing these tasks to experts at these things) to, you know, “save money.”
And so on, and so forth.
All that time is gone.
Poof.
You’ll never see it again.
Unlike spent money, you cannot “make” back spent time.
You can only spend it.
And, when it’s gone, it’s not returning.
I know this falls on mostly deaf ears. But, it’s the one or two people who take it to heart I care about.
The rest of you?
Well, go ahead. Keep stepping over dollars to pick up cents.
Those of us who value time will see you from the top…