Time Is Money – No It Isn’t!
Mime is money!
Time is money is a phrase, an adage that’s programmed into us from an early age but it’s a bit of silly notion when you think about it. In reality, particularly in our present times, time and money are completely different things. Time is time and money is money. Or as brilliantly parodied by Billy Crystal in “This is Spinal Tap” – Mime is money !
I’m paraphrasing Stuart Ross here from one of his training workshops when he stresses the importance to entrepreneurs of managing time effectively. He refers to the old business mindset of doing everything yourself – if a job’s worth doing …etc. In the world of the digital entrepreneur the money is being made whether you are working or not – but how?
The time is money thing is based on the idea that you need to be doing something in your business all the time – preferably your self – so that it’s done right. That actually means that you, as the business owner would spend time – tons of it working out stuff that you find tedious, difficult, frustrating and that isn’t actually the best use of your time.
Time is Time – Money Is Money
A far better option is to be resourceful and to outsource a lot of these tasks. In an online business, so much of this “stuff” can be outsourced easily and very cheaply. By saving the time you would use to do an only adequate job on a host of little tasks – by outsourcing them to a specialist – you could free up time to work on the bigger picture that the little tasks are just parts of.
An example: Creating a website or blog for a new product you are taking to market. You could spend countless hours faffing around with banner designs, WordPress themes and all the other things involved – working out how to do it as you go. That might make sense if you were a web designer and were getting paid for it, it makes no sense in terms of “time is money” if the website is just an means to an end. It might be better (and MUCH quicker) to outsource it.
Stop Thinking Time Is Money And Get More of Both
Those sorts of things can be outsourced to someone on Fiverr.com or Guru.com for literally a few bucks while you “spend” your time researching the market, writing ads (if you are any good at writing copy – if not, guess what? Outsource that too) and setting up automated follow up campaigns. That would get you to the money coming in on autopilot stage far sooner. Whether you are working or not.
If you don’t believe me have a look at the sorts of services available and how cheap they actually are at
http://fiverr.com or http://guru.com
In the digital business world at least the process is more like this: Once a profitable niche is identified through thorough research, products are created – unless they already exist as in affiliate marketing; Marketing materials are created if they don’t already exist – again this might involve creating banners or other graphics, writing advertising copy or a host of other tasks that could be outsourced.
Although all of the component parts of a sales funnel are important, to the entrepreneur they are not the parts that actually generate the money. It’s driving traffic to them that generates money and that doesn’t take a lot of time. In that equation time is money means that time saved by NOT doing it all yourself = money.
Learn more about Stuart Ross and creating more time freedom in the digital economy by getting the SFM complimentary video series on the link below.
