Why I never shovel my own snow

   •  by rondouglas    •   2 Comments »

If you live in an area where it snows, do you go out and shovel your own snow?

It snowed here in New York really bad a couple of weeks ago. So, I grabbed my shovel and went out there in the cold to work. I spent about an hour by myself digging out the cars, clearing the driveway, putting down salt, etc.

Looking back on it, other than getting some exercise, it was a huge waste of time. It’s all about opportunity cost. I should have called Alex & Pedro and paid them like $60 to do it instead. If I can make more than $60 in an hour doing something else, it doesn’t make sense to spend my time shoveling the snow.

Today, it snowed again and I gladly paid the kids to have it shoveled. I then went to my computer and sent out an email. Within 30 minutes I made much more than the $60 I paid.

The same thing applies to your business in general.

If spending your time on revenue producing activities instead of the daily grunt work will make you much more than you would pay to have someone do that work, you’re not making the most of your time.

Time is money.  Therefore, if you’re doing everything yourself, your income will always be limited by how much time you have.

The secret to achieving wealth is figuring out how to decouple your time from your money.  You have to learn how to build assets that produce income for you and how to leverage other people’s time profitably.

We recently did a free webinar where we talked about finding your niche and how we’ve used the Internet to generate wealth (100% free, no opt-in, no pitch, 90 minutes):

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What do you think about this?

Do you still shovel your own snow (a.k.a. doing customer support, link building, graphics design, coding, writing articles, etc) ?

If those things produce income for you, then great. If not, take a strong look at your opportunity cost.

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2 Responses to “Why I never shovel my own snow”

  1. Desmond Ong says:

    Well said Ron.

    I was able to triple my income after outsourcing a big portion of my business.

    Leave the thinking to yourself, and outsource the works out. or hire people to do it. 🙂

  2. Terese says:

    I wrote a post today about time and money inspired by a new book, 24-Hour Customer. For now, I shovel my own snow, and, in fact, I shovel other people’s as well. Not literally, but I am in a service business. It’s a start though, because for years I’ve been providing the same services on behalf of others (versus my own business). Babysteps…freelancer…business owner…passive income. I personally know many people (freelancers, ex-freelancers, heck, ex-cube dwellers) starting to see the light.

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