Time in a Results Based Economy — Buying Back Your Time
There is a commonality among every successful revenue generator I know. It’s the realization that time is our most precious resource and that they need to be hyper-vigilant in the way that they spend it.
They also place themselves in a venture that empowers them to create leverage in a way that suits their desired outcomes and they know that this comes with the obligation to create results (they do not trade their time directly for monetary reward).
Time and Effort Economy vs. Results Based Economy:
Time and Effort Economy: People in this economy are mostly solo consultants, solopreneurs or W-2 employees that trade their time for pay or revenue. They have not figured out how to create leverage through people, technology or process to increase their earning potential. You can’t scale or generate freedom this way.
Results Based Economy: This is where the entrepreneur lives. They have figured out how to pay for people, technology and resources that allow them to buy back time for either creating more results and revenue or freedom for themselves.
Two types “Revenue Generators / Entrepreneurs” in the Results Based Economy:
- Lifestyle: This person is largely focused on generating time for themselves. They want to live a life of freedom. They seek freedom of time, location, purpose, money, relationship and mind.
- Achievement Based: This person is seeking to maximize leverage. They are leveraging every asset they have and often the financial resources of others to produce and maximize results. They often sell the freedom they earn immediately (in the name of growth).
Our Perception of Time and the Maximization of this Resource:
What do you want the result of your leverage to be? Do you want to spend your time and money on continually expanding leverage? Or would you like to buy time back and live a life of greater freedom?
Neuroscientists have pointed to a theory that our perception of time is heavily influenced by what we are doing and how much memory we need to lay down in order to process that experience. This would mean that when we are in a life or death experience, the reason for us feeling like time slowed down in hindsight is that our emergency response system is kicking in and downloading more information (we are more present).
On the other hand. When we experience a fast week and we don’t know where the time went we probably spent the week in activities our mind is used to processing. Life can pass us by if we remain in this mode.
The question I pose is: as driven entrepreneurs and market developers, can we do a better job of utilizing our greatest asset to build a life that serves our purpose as well as our own wellbeing? Can we generate more novelty that allows us to experience the fruit of our labor?
Think of These as Your Levers: Freedom of…
time
location
purpose
money
relationship
mind
How can you pull on these to increase the value you create for your desired outcome? You can have what you really want, but you can’t have everything you want. At least not without initial sacrifice somewhere.
