– Wealthy people work for time, poor people work for money. Make sure your activities map to the amount of money that you want to be worth or that you want to value your time at.
Today, I’m gonna be telling you exactly the lessons I learned from a guy that was worth about $800 million. So listen up, let’s get into it. When I met this guy at a party, he’s owns an investment firm where they invest other people’s monies. But he was telling me when he got started in the business, he realized that the time it took him to do his laundry, he said, “DJ, the time it took me to gather all my laundry up, go to the laundry mat, put it in, run the laundry, get it dry, folded, all that kind of stuff, get back to my house…I could take that same amount of time and go sell one new policy or close one new deal and literally pay for a whole new wardrobe.” And so he told me for a couple of years, he didn’t wash his socks or underwear. He wore suits, so everything went to the dry cleaner and he threw away his socks and his underwear after he wore them and bought a new pack because he said it, his time was too valuable. There’s something to be picked up there. Now, I don’t know if the guy was pulling my leg or not. Seemed like a pretty far-fetched story, but who am I to argue with a dude that’s worth 800 million bucks?
My point here is that you should look at your time in the same way! You should be looking at your time and say,
“Is this worth my time? Is there someone I can delegate it to? Is there someone that can do it better than me or, better yet, should I just cut whatever I’m doing out altogether?” BECAUSE IT’S A WASTE OF TIME.
You know, wealthy people work for time. Poor people work for money. I’ve heard that saying several times from, from wealthy individuals, and what happens most of the time when you’re trying to manage your time, you’re trying to improve on your ability.
What are new things that I can do?
What are, what are new things that I can add to my schedule or new ways I can schedule things?
The first step is to audit what you’re already doing. Maybe you’re spending too much time on social media. Maybe, maybe this thing right here that is glued to every human being’s hand is wasting tons of your time. You know, I think one of the coolest things that came about with the smartphones here recently was when the health trackers, were like, “Hey, this is how many hours you spent on this app. Or you’ve spent this many hours on this app. ” When that came out, that was an eye-opener for me. Even for myself, you know, I, I spend time on social, making content, but I didn’t realize just how many hours in a week social media can suck out of my life.
So, you know, maybe you don’t have to be as extreme as the guy that’s worth 800 million bucks and throw away all your socks and underwear. I’m not saying that laundry is bad. I’m just saying that make sure your activities map to the amount of money that you want to be worth or that you want to value your time at. Too often, I see business owners, especially, doing things that don’t make sense. That’s why I have Andy. Andy is way better at video editing than me. And so while you’re trading out time for dollars, for me, it’s like, “I’m going to spend eight hours editing a video.” Not because I want it to be awesome- it’s because I suck at it. Andy can maybe take an hour, make me a better video and you know, only take an hour of time to do it. And so, I’ll trade Andy out. I’ll say, “Hey man, you’re good at this. You do this for an hour and I’ll spend my eight hours doing something that I’m good at, like closing deals.”
And so I just think that a lot of times people, if they can refocus their mindset around their time management, they need to look at what they’re currently doing. Audit what you’re currently doing, where you’re currently wasting your time, your hours, your days, and figure out what you need to cut out before you try to go optimize new systems, new processes, new things in your business or in your life.
Here’s to your success.