I want to tell you the difference.
Many people don’t know the difference about how the rich and the poor earn their money. It all depends on how you use your time and how much of it you use.
The rich person uses every hour of the day to maximize how much he earns. They have banks working for them through investments and interest. They use other people to do things they don’t know how to do themselves. They do the research and they assign experts in that field to do those things. They use things like the Internet and advertising to sell 24 hours a day. They or their tools are always producing.
When the rich go to work, they use leverage to make more money and use every hour of the day to make a profit. They are “working smart” instead of trying hard. Every hour of the day is leveraged against some tool that generates money 24 hours a day.
Because there are so many hours in the day, the poor have to sleep, say 8 hours. They have to have free time for life and their family and to do the things that we all need to live. Therefore, they cannot take advantage of these hours as far as making money is concerned, these hours are a failure. It is not good to work. So what’s left over Well, there are about 8 more hours that they can make money because these are the hours that they are clocked at a job site. Usually a job, but sometimes a small business of their own where it requires them to be around to make a living. There is no “Leverage” done in this type of work.
They are not working smart, they are working hard. You need to use every hour of the day.
If you look at successful people who have a lot, you’ll see that there’s no way they can do it all by themselves, they have others helping them. Henry Ford was one of the first to do this in modern times. He had thousands of workers build his cars in his name and that system is still successful today. Bill Gates is another. Do you think he can build, design and deliver all the computers he owns? No way; he has a force of employees who do that, who are specialists in their own field.
If you are a one-man business, you must be good at all the things necessary to run it. This is one of the reasons why most independent entrepreneurs fail. It’s a lot to do for themselves. You can specialize in the things you’re good at and hand over the rest of the responsibility for the ones you’re not good at. It is very likely that you are not making money if you are not good at it. Don’t get hung up on all the details and delegate the responsibility of trusting to worthy people who have more experience on the subject than you do.
A Jack of all trades is a master of none. Focus on where the profits are made and do that part of the business that is most important. Usually, mastering the research necessary to train others to do the jobs that do not generate the most income, and the discovery required is important for the business owner to stay ahead of the curve. The business owner who is at the forefront of information will be the most successful, will have good work habits, and deliver tasks that he is not good at and are less important that someone else can do. An owner should always be doing as many money generating activities as possible.
Internet business is a prime area where you can harness the power of leverage, it can work for you 24 hours a day, 365 days a year. There are systems that can be like little employees who don’t take time off, don’t take breaks, don’t get a paycheck, or never stop working. You have to learn a system and connect the tools you need and put them to work for the rest of your life. Anything you put in place will work for you for free.
You want to maximize your work day to make it profitable. Do everything you can to work smart.