One of the biggest misconceptions entrepreneurs make when they’re starting out or even deep into their career leads them to going down the wrong path:
Thinking the wealthy are trading their time for money.
It’s the biggest false idea people can have, and when you start to believe that the amount of time you invest in a project, client or business is going to determine your wealth, that’s how you don’t end up wealthy.
I can testify to that personally because it grew my business by five times in three years when I found out what wealthy people were really trading to make their pockets bigger.
The reality is that the people really bringing in the money, and creating a surplus of wealth… are trading value for time.
The Two Paths
Trading value for time is what the rich people have figured out a long time ago that everybody else hasn’t figured out.
While everybody else is trying to wonder how they can get an extra $2 an hour instead of asking, “How do I create a huge amount of value?”
Here’s some more practical examples:
Let’s say that you’re an employee making $15 an hour, and you want to increase the amount of money you’re making.
The hardest way that you can do that is go to your boss every year, and say, “Hey, I want to get an extra $1 an hour or 50 cents an hour.
The easier route is that you come to your employer during the year with ideas about how you can increase efficiency, make things work better and produce more revenue for your department, streamline things, and make things more efficient.
Avoiding The Wrong Path
If you’re going to your senior, manager, boss or CEO during the course of the year and showing this value and adding this value to the enterprise I can promise you (unless they’re an idiot) that they’re going to come to you and say, “Hey, how can I give you more money?”
Which is another way of saying, “How can I make sure that you don’t leave me?”
So now you have them wondering how they can make sure that you’re well taken care of.
When I see people that are really focused in my organization on how they can do things better I’ll start thinking, “I want to make sure that I take care of this person.”
I want to make sure that I really add value to this person’s life as they’re adding value to my company.
That’s the correct way to go about it.
The wrong way to go about it is just thinking everybody owes you an extra dollar a year or everybody owes you money because you’ve worked hard or put in time.
The Path The 1% Take
The reality is every great athlete, entrepreneur, and great actor is not trading their time for money.
They’re trading the value they bring forth in exchange for money, so when that really resonates with you and you use the thing between your two ears, things can get pretty amazing.
Take a second and start thinking about how you can add immense value to your customers or the people you’re working with and you’ll find over time that the amount of money you’re making is going to quadruple.
I’ve put so much value into my enterprise that in the last three years, I looked at the numbers from 2018 to 2021, I have grown 5 times as much.
That’s almost unheard of, all because of consistently adding value to the enterprise.
Think with that instead of time, and completely remove the idea of time as, “Oh, but I put in so much time.”
Okay, you put in time but it doesn’t add anything of worth if you work five years on a project to not have added any value.
It’s a harsh reality to face when you don’t add significant value, so you’ll get much further when somebody recognizes it and you make them say, “Wow.”
Everybody knows somebody who complains and would say, “Well, I put in the time and that’s it.” or “I did my job, I don’t need to do anything else.”
If you do that, you’re never going to become more successful at what you do, maybe you’ll be average.
If you’re reading this, you’re not about being average, you’re about being the best and being excellent.
You’re about being in the top 1%.