Comments on: How To Make Time Equal Money 24 Hours A Day

By: David Koh

David Koh — Sat, 08 Aug 2009 08:08:01 +0000

Hi Steve,

That is a great article certainly.Many people waste and spend long hours on non-productive tasks.They are clueless about time management.The fact is it is impossible to claim back time when it is gone.A great way to make good use of time is to prioritise and keep time stealers away.Concentrate on what is important and delegate the rest.Put certain tasks on automation whenever possible.

Thanks for the good advice.

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By: Steve

Steve — Wed, 05 Aug 2009 03:10:00 +0000

@Scott
Outsourcing is always a bit tricky. I’ve found that my most successful outsourcing endeavors have been when I’ve created a very tight specification of work for the contractor to complete. If you are somewhat vague or wishwashy about what you want done, then things usually end up not meeting your expectations. The main problem with creating a detailed specification is that you usually have to have some amount of knowledge of the subject matter. It’s a very delicate balancing act to find the sweet spot

By: Steve

Steve — Wed, 05 Aug 2009 03:07:29 +0000

@Penny
I would agree with you if I actually had any interest in learning about brakes and brake pads. I actually learned how to do it myself because I thought it was ridiculous that the mechanic wanted 350 dollars to fix my brakes. After finishing the job however, I realized that it was well worth the money. Bottom line is that you have to do what floats your boat. I could have spent that time learning something else.

By: Steve

Steve — Wed, 05 Aug 2009 03:05:27 +0000

@Stephen
I agree. I always start out interested in doing one off projects. But what usually ends up happening is that I screw up somewhere and dig myself into a big hole:)

By: Steve

Steve — Wed, 05 Aug 2009 03:04:22 +0000

@Monevator
I guess I don’t like to think this way because it inherently implies that you are trading time for money one for one. I like to think of my time as a resource that I can use to exponentially increase my wealth and to grow a living entity. Time is something that I use to help accelerate growth rather than to complete a specific task. Then again, I’m not a freelancer or a consultant. I would imagine the mindset of a freelancer would be as how you’ve described it.

By: Steve

Steve — Wed, 05 Aug 2009 03:00:06 +0000

@Seamus
I think placing a dollar amount on your time is much easier if you are a consultant or a service based business. Since our business fluctuates so much from month to month and it’s difficult to correlate exactly how much my efforts have contributed, I can only create a mental approximation of how I value my time. I can tell you though that my bar is set pretty high these days.

By: Steve

Steve — Wed, 05 Aug 2009 02:57:07 +0000

@Andrea
So very true. I think that it’s a sign that the value of your time has gone way up during the course of your business. And by comcentrating your time on your core competencies, your income has increased as a result. That’s awesome!

@Lana
Good luck with your online endeavors. May I ask what your business does?

By: Steve

Steve — Wed, 05 Aug 2009 02:53:52 +0000

@Herbert
Thanks. It was really hard for me to fully comprehend the time value of money.

@Anthony
So very true. It sounds as though you have built a valuable money making affiliate machine:) And now you can sit back and reap the rewards! I may have to get some pointers from you in the future