To Be A Billionaire, Act Like One And Start Maximizing Your Time

It cannot be stored and it cannot be gotten back but you can create it and make better use of it.

Time can be said to be an asset and it is arguably the most valuable asset. But there are lots of Fallacies and misinterpretations about time which the biggest of them all is you can save time. Time cannot be saved, it can only be spent. Once that time is gone, it is gone forever. It cannot be stored it either but time can be Created and I will gladly show you how.

I have spent a great deal of time studying billionaires like Mark Zuckerberg,  Oprah Winfrey, Mark Cuban, Warren Buffet, Elon Musk, Roman Abramovich amongst others and when it comes to TIME, they all have a similar line of thinking.

Most people abuse, waste and mismanage time. But if you can master it, it is what will get you closer to the Billionaire Entrepreneur’s club. Here are 5 things you need to know about time.

Distraction is time lost.

First and foremost, focus is the name of the game for all of the billionaire entrepreneurs that I’ve studied and met. Distraction means you are losing time or spending it unwisely.

For instance, distraction happens the minute you open your Facebook feed and aimlessly scroll through. Before you know it, you are three viral videos deep and researching something that is completely unrelated to your goal.

Buffett has a great method of coming up with your most important goal. He tells people to list the 25 most important things they want to do in their life. He asks them to review each goal, and choose the five most crucial ones. Most people want to do the five main goals while sometimes working on the other 20. But Buffett insists that the other 20 are your “avoid at all costs” list until the first five are completed.

Writing your goals down increases chances of success by 42 percent.

Goals are extremely important. You have to know what you are fighting for or you’ve already lost. If there was a way to wave a magic wand and reprogram your brain to be more productive and effective, this would be it.

According to John Assaraf, author of The Secret and Neurogym, goals are 42 percent more likely to be achieved if you simply write them down. Once you have your goals written down, they become much more real. One of the biggest problems entrepreneurs face is not knowing where to focus their energy. They are trying to accomplish 100 things at once, instead of focusing on specific goals.
So you know what you need to do, you have your most important goals in hand, you aren’t distracted, but you still just don’t have enough time to do everything you want to do. What next?

Empower others by allowing them to take responsibility.

This can be one of the hardest to actually execute, but it is extremely important. If you are a one-man or one-woman show, you are always only going to only have 24 hours in a day. But, if you can hire even one additional person, you now have 48 hours in a day. And this obviously multiplies with every person you add. You could get five to seven productive hours out of each person you hire, on average.

The big question is ‘’ How do you get employees to stay with you?’’ The iconic saying from Branson sums that up very clearly. “Train people well enough so they can leave. Treat them well enough so that they don’t want to.”

Utilize technology instead of people.

People aren’t always the answer. Often times, it’s easier to utilize technology instead of people. Automation is something that works in all sorts of businesses. But before you implement automation, you need to make sure your system is working efficiently, or you could turn a small problem into a big problem.

“The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.” — Bill Gates

Don’t be afraid to be a contrarian.

Billionaires and wildly successful people are known to not follow the rules. For every one rule, there is a billionaire out there breaking it.

Case in point — Gates is notorious for reading emails one at a time on a dedicated monitor, with nothing else on the monitor and zero distractions. Musk, on the other hand, who is the CEO of Tesla Motors, SpaceX and Chairman of SolarCity, is notorious for reading and replying to emails while having a meeting or call at the same time.

You can’t be successful or be a billionaire by doing things alone or being selfish. Introduce and invite people to go to blog.searchit.com.ng to read more articles because you never can tell who has the brightest idea that will help you grow. Share with family and friends and be in the centre of it all.