The 4 dangers of thinking 'time is money'

Want to break into new levels of income and start to leverage yourself better?  

I recently posted about the 6 type of ‘money mindsets’ when it comes to how you create income. While no one is better than the other, being aware of these will shape how we create money in the future. 

Just to recap, here they are:  

𝙀𝙢𝙥𝙡𝙤𝙮𝙚𝙚: Amount of active work dictates income (trades time for money). Moves up in skill & position to create more income.

𝙎𝙚𝙡𝙛 𝙚𝙢𝙥𝙡𝙤𝙮𝙚𝙙: Owns a job. Still trades time for money, freedom from having a boss but wears all the hats in the business.

𝘾𝙤𝙢𝙢𝙞𝙨𝙨𝙞𝙤𝙣: Has a job but is paid on performance and can leverage skill to produce more income in the same amount of time.

𝘽𝙪𝙨𝙞𝙣𝙚𝙨𝙨: Creates the ability to leverage systems and do more by growing a team and stay in their zone of genius.

𝙄𝙣𝙛𝙡𝙪𝙚𝙣𝙘𝙚: The ability to create money based on their network & social presence (affiliate, sponsorships, JV partners)

𝙄𝙣𝙫𝙚𝙨𝙩𝙤𝙧: Owns part or all of businesses but doesn't run them. 

Many of us start to make money and get a job out of high school and many of us stay as employees through life.  

This is awesome if you end up in a high paying job that you love, with flexibility and autonomy!  

Unfortunately, most people in this country hate their job, and leave to become self-employed so they can do what they want without feeling like a prisoner.  

The hard part about self-employment is people struggle either with bringing in enough clients and then go into scarcity mode, grasping on and making it even harder to close deals. 

Or if they do get busy, they max out on clients and income. 

Both employee’s and self-employed trade time for money, and unless you change this mindset, it makes it incredibly difficult to grow your wealth exponentially or have a high income and free yourself up.  

4 dangers of the employee/self employed mindset:   

The longer you’ve been an employee, the longer you’ve been conditioned to trade time for money, and the harder it becomes to invest (time or money) without seeing a return.  

Danger #1: you don’t see investing in growth of your business as an ‘investment’, you feel like it is an ‘expense’. You feel like you are going backward when you invest in growing (when really you are going forward).  

Danger #2: when you’ve been trading time for money for too long, it’s hard to be patient. You look for the immediate payoff instead of putting in massive action now for a much greater pay off down the road. You are vulnerable to quitting far to early.  

Danger #3: because you’ve been conditioned to trade time for money, even if you’ve created an offer that converts, you see it as ‘not making enough money’ instead of ‘I’VE JUST PROVEN THIS STREAM OF INCOME, now I need to refine and scale it’!  

Danger #4: you subconsciously avoid the steps needed to grow and scale (or make more money) because subconsciously your mind thinks that MORE MONEY = MORE TIME.  

If you can relate to years of trading time for money and have seen some of these dangers manifest in your business, it’s ok, be aware of them and start to shift your mindset into one that allows for a more expansive view!  

One book I’d highly recommend that talk about the differences of employees, self-employed, business owners and investors check out: Cashflow Quadrant by Robert Kiyosaki

Oh yes, on the Mindset Hackers Podcast for thisweek, I just dropped the #1 thing that you can do to instantly tap into more happiness in life (it’s not meditation, journaling, reading books), it’s called ‘Protecting the Sphere’ and you can implement this TODAY! Check it out on Apple or Spotify!  

And don’t forget to review/share.