Separate time from money

Instead of trying to increase the value of our time, we can create a machine that generates income regardless of our own time spent on it. In other words, you getting paid while your machine that you build does the work.

Entrepreneurs should ponder the following questions:

  1. Can the business make money while I am away?

  2. Can it be delegated, or automated with machines?

  3. Could I train someone else to run it?

  4. Could I make the process of delivering on $100 in sales, the same process as delivering on $1 million in sales (aka scale without more time involvement)?

While a business that answers “no” could possibly make you money, it will continue to require greater and greater amounts of your time and threaten your quality of life. No business like this will be jump-started effortlessly, nor will it ever be able to run itself. This is a major concern for new businesses: money and time must be separated! Strategically feeding chunks of your earnings to your growing business, delegating by hiring and/or employing automated machines, will ultimately increase your overall cumulative profit.

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