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Chapter 19; THE SIMPLE SYSTEM
THAT HELPS YOU
MASTER YOUR TIME
AND TAKE CHARGE OF
YOUR LIFE.
(Page 195)
Your time, knowledge, and energy are your most valuable commodities. If you really think about it, time isall you have. Your time is your life. That’s why I absolutely hate it when people waste my time. It’s worse than stealing money from me.
I can always make money. But I can never ever make more time.
Customers are replaceable. Money is replaceable. The only thing you can’t replace is time. The time you just spent reading this sentence—it’s gone. Time can’t be replaced or replenished.
So, it just seems so damn obvious to me that your top priority should be protecting the only asset you have that can’t be replaced.
Unfortunately, most people give more thought to where they’re going to go for lunch than how they’re going to protect their time.
Here’s the question that you need to ask yourself and answer every single day:
“How do I protect my time and energy so that I am only spending my time on those things that will take me closer to my F.U. Money?”
You might ask, “What’s this got to do with making money?”
Are you kidding me?
EVERYTHING! How you use your time
ultimately determines how much money you make.
Time management doesn’t exist. You can’t manage time.You can’t make it go faster or slower. You can’t make time move forward or
backward, and you can’t makeup for lost time.
What you can do is manage yourself and how you choose to use the time that you have. The richest people in the world have the same
amount of time as the poorest people in the world. We all get 24 hours a day, 168 hours a week and 52 weeks a year. AVERAGE OF 60 YEARS A LIFESPAN. 20 years of learning, 20 years of making money, and 20 years of enjoying your prosperities. No more, no less. So time management is really self-management.
So, the question is not can you better
“manage your time,” because you can’t. The
real question is what do you focus on NOW?
Do the actions you take on a daily basis move
you forward in the direction you want your life
to move? Or do your actions move you away
from your priorities?
The second thing you have to know is how much your time is worth. I call that your magic number.
The reason you’re not making the kind of money that you want, and the reason you’re not working the amount of hours you want, is
because you have not made it a point to continually increase the worth
of your time in life.
MONEYISM #50: How you use your time ultimately determines how much money you make.
Do you understand how important this is? To make the kind of money you really want in your business, you must continually increase the worth of your time.
All time has value; the way you think about time and the way you think about your self will affect everything that happens to you inside
and outside of your business for the rest of your life.
And guess what? If you don’t value your time, nobody else will. And why should they, especially if you don’t even know how much your time is worth? I’m always shocked at how many people don’t have any idea what the value of their time is, or even how to increase the value of their time.
So here are two critical questions for you:
1.Do you know what your time is worth?
2.Do you know what your time needs to be worth to achieve your F.U. Money Targets (F.U.M.T.s)?
If you don’t know what your time is worth now, or what it needs to be worth to achieve your goals, then you can’t make effective decisions
on what activities you should be spending YOUR time doing and what activities you should have others do FOR you.
So let’s take a minute and figure out what the value of your time needs to be in order to get you where you want to be.
Here’s my assignment for you, and it’s very simple.
First question: What is the amount of money that you would like to make this year?
Write it down:__________________
In this case, let’s use a million dollars. Let’s say your F.U.M.T. is to make a million dollars a year (if that’s too much, then use $100,000. If it’s too little, you can use two or ten million dollars, whatever).
Let’s say you work 8 hours a day, 220 days a year. That’s 1,760 hours a year. Okay, now take the million dollars and divided that by 1,760 hours. It equals approx.$568. But that’s NOT your magic number.
To get your magic number, you take $568 and multiply it by three to allow for unproductive vs.productive hours. That equals $1,700.
What is your magic number?________________________Why multiply by three? Because I know you don’t spend eight hours a day working productively—nobody does. Be honest with yourself: you’re not productive all the time. I know I am NOT.
So, to make a million dollars a year, each of your hours has to be worth $1,700. That’s your magic number. Why is the magic number
important? Because you have to constantly ask yourself the question, “Is what I am doing RIGHT NOW worth $1,700 an hour?
If the answer is NO, it gets you to start thinking seriously about Return-On-Time-Invested (ROTI). In other words, how are you investing your time, and what’s your return on that investment? This number helps you to quantify what the heck is going on in your life. Are you investing your hours well?
Let’s say you spend an hour mowing your lawn. That just cost you $1,700! Why the heck would you do this if you can get a gardening company to do it for fifty bucks?
How are you gonna make a million bucks a year when you spend your time doing twenty-dollar-an-hour work? (And you wonder why you don’t make the kind of money you want to make.)
You MUST eliminate the need for you doing the activities that do not match up with the value of your time.
This is why I don’t wash my car. I don’t go grocery shopping. I don’t vacuum my carpet. I don’t do book keeping. I don’t do ANYbof this crap that I can pay someone fifteen or twenty bucks to do!
MONEYISM #51: Rich people value time, value time. Poor people value stuff.
I am only a master of three or four things in my life, and they are things that make me a LOT of money.
I don’t even know how to change a light bulb. I’m not kidding. I don’t know how to wash dishes. I don’t know how to fix my toilets.And I don’t WANT to know. I don’t give a shit! I wouldn’t enjoy doing any of this stuff anyway, even if I did know how to do it.
I know, some people will think, “Aw, come
on, Mr., you should clean your car yourself…
do your taxes yourself…do (whatever)
yourself. Be a man. A little hard work never
hurt anybody. Besides, it’s good for you.It’s an
honorable thing to do.”
Fxxk that! I do what I love doing…what I’m great at doing. There’s no “honor” in doing things I’m not good at. What’s the point? Do you think you have a greater chance of goingt to heaven if you spend your life, 40 years, doing things you don’t like? I don’t.
There’s no honor, no joy, no payoff in this life or any other life for doing that which I’m not good at and that which I don’t like. People who think I should do this stuff can kiss my ass.
Let me give you another example: I don’t know how to cook nor do I have the desire to learn.
MONEYISM #52 : It’s better to be really good at one thing than average at a bunch of things. Master of none is always poor.
If I did cook, I would probably suck at it, so I wouldn’t even enjoy.eating what I created. Why work so hard to create a shitty meal that I
wouldn’t even want to eat?
Instead, I have a chef named Judy who
designs highly nutritious meals just for
me. She does all the shopping and brings
the utensils needed to prepare the meal to
my home. Once a week, she prepares my
meals using the highest quality and freshest
ingredients available.
When she’s done cooking, my dinners are
packaged and stored in my refrigerator and
freezer. Then she cleans it all up and I don’t
have to lift a finger.
When she’s done, I have a week’s worth
of healthy, great-tasting dinners waiting for
me—it’s awesome! All I do is come home to a
wonderful smelling house, follow the heating
instructions, and in thirty minutes or less
have a delicious home-cooked meal!
MONEYISM #53
“Do what you love and the money will follow” is a lie.
It should be: “Learn to love the activities that are capable of producing the largest sum of money-then the money will follow!”
Think about this scenario for a second. Chef Judy loves to cook. I hate to cook. She’s had years of training, and she’s a whiz in the kitchen. She prepares foods for me that are well-balanced and healthy, so I benefit
from good nutrition without having to think too hard about it. I pay her to do what she’s good at—what she enjoys doing—and because of it I’m
free to do what I’M good at doing.
If more people thought this way, we would ALL be better off, wouldn’t we?
F.U. Money Assessments(FUMA):
Make a list of activities you do on a daily basis. Evaluate each task you do. Can you delegate this task?
1.TASK TO BE DELEGATED.
2.HOW MANY HOURS DO YOU FREEUP?
3.DATE YOU’LL DELEGATE THE TASK.
4.WHO SHOULD ACCEPT THE DELEGATION?
5.VALUE OF THOSE HOURS?
6.DELEGATED TASK COMPLETE (CHECK OFF).
》Next》 click
Chapter 19; THE SIMPLE SYSTEM
THAT HELPS YOU
MASTER YOUR TIME
AND TAKE CHARGE OF
YOUR LIFE.
(Page 195)
Your time, knowledge, and energy are your most valuable commodities. If you really think about it, time isall you have. Your time is your life. That’s why I absolutely hate it when people waste my time. It’s worse than stealing money from me.
I can always make money. But I can never ever make more time.
Customers are replaceable. Money is replaceable. The only thing you can’t replace is time. The time you just spent reading this sentence—it’s gone. Time can’t be replaced or replenished.
So, it just seems so damn obvious to me that your top priority should be protecting the only asset you have that can’t be replaced.
Unfortunately, most people give more thought to where they’re going to go for lunch than how they’re going to protect their time.
Here’s the question that you need to ask yourself and answer every single day:
“How do I protect my time and energy so that I am only spending my time on those things that will take me closer to my F.U. Money?”
You might ask, “What’s this got to do with making money?”
Are you kidding me?
EVERYTHING! How you use your time
ultimately determines how much money you make.
Time management doesn’t exist. You can’t manage time.You can’t make it go faster or slower. You can’t make time move forward or
backward, and you can’t makeup for lost time.
What you can do is manage yourself and how you choose to use the time that you have. The richest people in the world have the same
amount of time as the poorest people in the world. We all get 24 hours a day, 168 hours a week and 52 weeks a year. AVERAGE OF 60 YEARS A LIFESPAN. 20 years of learning, 20 years of making money, and 20 years of enjoying your prosperities. No more, no less. So time management is really self-management.
So, the question is not can you better
“manage your time,” because you can’t. The
real question is what do you focus on NOW?
Do the actions you take on a daily basis move
you forward in the direction you want your life
to move? Or do your actions move you away
from your priorities?
The second thing you have to know is how much your time is worth. I call that your magic number.
The reason you’re not making the kind of money that you want, and the reason you’re not working the amount of hours you want, is
because you have not made it a point to continually increase the worth
of your time in life.
MONEYISM #50: How you use your time ultimately determines how much money you make.
Do you understand how important this is? To make the kind of money you really want in your business, you must continually increase the worth of your time.
All time has value; the way you think about time and the way you think about your self will affect everything that happens to you inside
and outside of your business for the rest of your life.
And guess what? If you don’t value your time, nobody else will. And why should they, especially if you don’t even know how much your time is worth? I’m always shocked at how many people don’t have any idea what the value of their time is, or even how to increase the value of their time.
So here are two critical questions for you:
1.Do you know what your time is worth?
2.Do you know what your time needs to be worth to achieve your F.U. Money Targets (F.U.M.T.s)?
If you don’t know what your time is worth now, or what it needs to be worth to achieve your goals, then you can’t make effective decisions
on what activities you should be spending YOUR time doing and what activities you should have others do FOR you.
So let’s take a minute and figure out what the value of your time needs to be in order to get you where you want to be.
Here’s my assignment for you, and it’s very simple.
First question: What is the amount of money that you would like to make this year?
Write it down:__________________
In this case, let’s use a million dollars. Let’s say your F.U.M.T. is to make a million dollars a year (if that’s too much, then use $100,000. If it’s too little, you can use two or ten million dollars, whatever).
Let’s say you work 8 hours a day, 220 days a year. That’s 1,760 hours a year. Okay, now take the million dollars and divided that by 1,760 hours. It equals approx.$568. But that’s NOT your magic number.
To get your magic number, you take $568 and multiply it by three to allow for unproductive vs.productive hours. That equals $1,700.
What is your magic number?________________________Why multiply by three? Because I know you don’t spend eight hours a day working productively—nobody does. Be honest with yourself: you’re not productive all the time. I know I am NOT.
So, to make a million dollars a year, each of your hours has to be worth $1,700. That’s your magic number. Why is the magic number
important? Because you have to constantly ask yourself the question, “Is what I am doing RIGHT NOW worth $1,700 an hour?
If the answer is NO, it gets you to start thinking seriously about Return-On-Time-Invested (ROTI). In other words, how are you investing your time, and what’s your return on that investment? This number helps you to quantify what the heck is going on in your life. Are you investing your hours well?
Let’s say you spend an hour mowing your lawn. That just cost you $1,700! Why the heck would you do this if you can get a gardening company to do it for fifty bucks?
How are you gonna make a million bucks a year when you spend your time doing twenty-dollar-an-hour work? (And you wonder why you don’t make the kind of money you want to make.)
You MUST eliminate the need for you doing the activities that do not match up with the value of your time.
This is why I don’t wash my car. I don’t go grocery shopping. I don’t vacuum my carpet. I don’t do book keeping. I don’t do ANYbof this crap that I can pay someone fifteen or twenty bucks to do!
MONEYISM #51: Rich people value time, value time. Poor people value stuff.
I am only a master of three or four things in my life, and they are things that make me a LOT of money.
I don’t even know how to change a light bulb. I’m not kidding. I don’t know how to wash dishes. I don’t know how to fix my toilets.And I don’t WANT to know. I don’t give a shit! I wouldn’t enjoy doing any of this stuff anyway, even if I did know how to do it.
I know, some people will think, “Aw, come
on, Mr., you should clean your car yourself…
do your taxes yourself…do (whatever)
yourself. Be a man. A little hard work never
hurt anybody. Besides, it’s good for you.It’s an
honorable thing to do.”
Fxxk that! I do what I love doing…what I’m great at doing. There’s no “honor” in doing things I’m not good at. What’s the point? Do you think you have a greater chance of goingt to heaven if you spend your life, 40 years, doing things you don’t like? I don’t.
There’s no honor, no joy, no payoff in this life or any other life for doing that which I’m not good at and that which I don’t like. People who think I should do this stuff can kiss my ass.
Let me give you another example: I don’t know how to cook nor do I have the desire to learn.
MONEYISM #52 : It’s better to be really good at one thing than average at a bunch of things. Master of none is always poor.
If I did cook, I would probably suck at it, so I wouldn’t even enjoy.eating what I created. Why work so hard to create a shitty meal that I
wouldn’t even want to eat?
Instead, I have a chef named Judy who
designs highly nutritious meals just for
me. She does all the shopping and brings
the utensils needed to prepare the meal to
my home. Once a week, she prepares my
meals using the highest quality and freshest
ingredients available.
When she’s done cooking, my dinners are
packaged and stored in my refrigerator and
freezer. Then she cleans it all up and I don’t
have to lift a finger.
When she’s done, I have a week’s worth
of healthy, great-tasting dinners waiting for
me—it’s awesome! All I do is come home to a
wonderful smelling house, follow the heating
instructions, and in thirty minutes or less
have a delicious home-cooked meal!
MONEYISM #53
“Do what you love and the money will follow” is a lie.
It should be: “Learn to love the activities that are capable of producing the largest sum of money-then the money will follow!”
Think about this scenario for a second. Chef Judy loves to cook. I hate to cook. She’s had years of training, and she’s a whiz in the kitchen. She prepares foods for me that are well-balanced and healthy, so I benefit
from good nutrition without having to think too hard about it. I pay her to do what she’s good at—what she enjoys doing—and because of it I’m
free to do what I’M good at doing.
If more people thought this way, we would ALL be better off, wouldn’t we?
F.U. Money Assessments(FUMA):
Make a list of activities you do on a daily basis. Evaluate each task you do. Can you delegate this task?
1.TASK TO BE DELEGATED.
2.HOW MANY HOURS DO YOU FREEUP?
3.DATE YOU’LL DELEGATE THE TASK.
4.WHO SHOULD ACCEPT THE DELEGATION?
5.VALUE OF THOSE HOURS?
6.DELEGATED TASK COMPLETE (CHECK OFF).
》Next》 click
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