Do you shovel your own snow?
It snowed here in New York really bad a couple of weeks ago. So, I grabbed my shovel and went out there in the cold to work. I spent about an hour by myself digging out the cars, clearing the driveway, putting down salt, etc.
Looking back on it, other than getting some exercise, it was a huge waste of time. It's all about opportunity cost. I should have called Alex & Pedro and paid them like $60 to do it instead. If I can make more than $60 in an hour doing something else, it doesn't make sense to spend my time shoveling the snow.
Today, it snowed again and I gladly paid the kids to have it shoveled. I then went to my computer and sent out an email. Within 30 minutes I made much more than the $60 I paid.
The same thing applies to your business in general.
If spending your time on revenue producing activities instead of the daily grunt work will make you much more than you would pay to have someone do that work, you're not making the most of your time.
Time is money. Therefore, if you're doing everything yourself, your income will always be limited by how much time you have.
The secret to achieving wealth is figuring out how to decouple your time from your money. You have to learn how to build assets that produce income for you and how to leverage other people's time profitably.
What do you think about this?
Do you still shovel your own snow (a.k.a. doing customer support, link building, graphics design, coding, writing articles, etc) ?
If those things produce income for you, then great. If not, take a strong look at your opportunity cost.
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