Time is Money and This is One Rule The Rich Knows
As at the time of writing, there are 2,781 billionaires worldwide and the number of billionaires have increased every year in the last decade which means that there are secrets that a few people know and are telling others. Or there are things that they do that we do not notice.
I have learned that billionaires are willing to save as much time as they can because they understand the importance of time. Wealthy people will not want to waste their time or yours in anyway. They want to be able to do a lot within a short period of time and get the highest result possible within that short period. They are always coming to an event where they are going to leave early but then they come early because they understand time and managing it. They are willing to manage time so they can be able to utilize it properly.
When you work for someone, they determine your time, they dictate what you do with your time but when you work for yourself, you own your time. You see time as an asset that you trade, your buy, you invest in and so on. The only reason why you employ people is for them to be able to help you save time because you need to utilize the same 24 hours to do a number of things that you alone cannot do but when you are able to pay people less, they are able to utilize time in other to help you get it done.
Provided the ROI you spending on employing the person is greater than the cost of employing the person, then it is a good business. With it comes to wealth creation, you will have to scale it overtime because it will require more than one person to scale a particular value to become successful and they are willing to pay for the extra hand so as to get a upper hand result.
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Your day is made up of 1400 minutes on an average and we cannot all be productive throughout in fact, we will be sleeping, playing, eating, or doing any other thing for the about 400 minutes but then, you need to be able to make the remaining 1000 minutes productive. So in other to do this, equate every minute of your life to $1 on an average or less and then look for how you can utilize the time to get the money. You can calculate how much every minute cost in your life and how you can improve it. You need to be able to grow your income with the same time and there is a level where you cannot go more than you are and this is where you look into employing people. Once the money paid to employ a person is giving a great ROI up to 20X, then you are getting value for your money. For some it can be 10X ROI and that is still a great return.