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In today's video I'm going to talk to you about the most valuable resource in both business and life. When I ask people what the most valuable resource is in a business, most people say money, staff, product/service, but surprisingly, all of those answers are wrong. Today I'll explain what I feel the most valuable resource is, three examples of how I use this resource effectively myself, and things you can do to best use the resource yourself.
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If I were to ask you the most valuable resource in business, what would you say it is? Money? Your product or service? Your team? The truth is every one of those answers is wrong and by the end of this video I’ll explain why that is.
In today’s video we’ll cover:
The Most Valuable Resource in Business (and Life)
Three Examples of How I Use This Resource
Things You Can Do Today to Best Use This Resource
The Most Valuable Resource in Business (and Life)
The most valuable resource is….time
While money/product/service/team is important, time is one thing you can never fully control
Business is a race against time. CTA LIKE AND SUBSCRIBE
If you can use it effectively, you’ll be very productive and learn a lot, which will allow you to be successful.
Mathematical breakdown of time every day/week/month.
24 hrs a day
8 hrs sleep
8 hrs work
4 hrs commute and errands/life
Still 4 hrs left. That’s in one day..
Push that to a full week that’s 28 hrs
Push that to a full year and that’s 1,460 hrs
Three Examples of How I Use This Resource
I am busy. 7 websites, married, family close to me, teach at three colleges, and still do some consulting
Upwork.com - I outsource writers, editing, blog posting/formatting, video editing, therefore buying time.
Acorns.com - I outsource investing in an automated way. Not just investing but also savings and contribution to the investment account.
Instacart - Will talk more in the future about this one, but I outsource mundane tasks such as grocery shopping.
Things You Can Do Today to Best Use This Resource
Realize you CAN buy time by paying others
Outsource business activities (even if you like them)
Realize that time spent training is time well spent
Stay organized
Outsource Investing
When focusing on something, REALLY focus to utilize it to the best of your ability
Outsource Mundane tasks
Instacart
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My name's Prof. Ron and my goal is to help you create passive income with online businesses and through investing. I'm not big on hype and won't promise you overnight success, but I love to introduce people to a lifestyle where they can make money online while working from home. I'm also passionate about investing and finance, so I cover that in my channel as well.
If you're interested in learning how to earn money from an online business and then where you can invest that money to make more passive income, this is the channel for you.
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