All of us are born with different talents and proclivities. Some have a higher IQ, others are taller or better looking. But all of us have one thing which is universal, and that is time. All of us, without any exceptions, have only 24 hours in a day. It goes without saying that to be successful we have to leverage our time.
Most people look for job security rather than opportunity. They will sell their time, effort, resources and connections for a very low price. Wealth creators leverage the time and effort of others to generate wealth for themselves. This is the simplest form of leverage in labor intensive industries.
In fact, most businesses in today’s world are founded on other people’s time and effort.
“People without leverage work for those with leverage.“ – Robert Kyosaki
If you are an employee, your company is leveraging your time and effort to increase their profits. It may sound cruel but it is the truth. This has been happening since the dawn of civilization. It is high time you started thinking of breaking out of this cycle, and empowering yourself by using other people’s time and effort to build your wealth.
Free up your Time
You have to become a master at offloading routine jobs; to free up your time to concentrate on areas that are more creative and will help you create wealth faster. I am amused by people who are so self-efficient that they will not trust another human being even with the most mundane jobs, because they do not trust their competence. This is the sure route to stagnate.
To succeed and progress in life, you have to find people to replace your management and skillset in the shortest possible time frame.
You have to use the effort and energy of others to grow rich. This might be as simple as hiring someone to clean your house, mow your lawn, dry clean and press your shirt or hiring technical people to do your routine jobs at work. You should first write down and offload your bottom 10 routine activities (you don’t enjoy doing,) that take up your time and energy from productive work, which in turn, can generate revenue for you.
You have only 24 hours in a day. No matter how talented or efficient you are, you can earn only a limited amount of money if you are paid by the hour. With a 40 hour work-week you can, at best, work for only 2000 hours in a year (assuming you take a 2 week vacation time and work 50 weeks).
If you employ, let us say, 100 people in your business, your work output will be 200,000 man-hours and your income that much higher
“I would rather earn 1% off a 100 people’s efforts than 100% of my own efforts.” –
You can also benefit from a percentage of other people’s efforts and dramatically increase your income and freedom by learning to leverage your time.
“He who stands on the giant’s oulders; sees farther than the giant” –
To apply this technique, great human and management skills are needed. If you lack management skills; a more practical and pragmatic approach is to outsource jobs that need co-ordination of human skills. In this way, you avoid the hassle of managing people.