It is believed that Bill Gates, on average, earns $250 per second. In a day, my calculator confirms that he will have earned just a hair over $20million. Hypothetically; suppose he drops a thousand dollars – he can be excused for not picking it up due to the fact that, of the 4 estimated seconds he’ll use to pick it up, he will have already earned it back. Such – is the reality of the world’s most famous nerd. He’s business reality is established around TIME and MONEY. And so is everyone’s.
In plain, cut and dry terms – we all, in one fashion or another, do earn the same amount of income but time separates us from getting hold of certain luxuries in life. Assuming that you earn $5000 per week; in a month’s time you will have earned yourself $20 000. Twenty thousand dollars? That’s how much Bill Gates earns in 80 seconds. To match his $20m worth, your reality would advice that you save 100% of your $20 000 monthly income for the next 1000 months. EIGHTY THREE YEARS I beg your pardon.
Far be it from me to dispute that you and I have the “smarts”, pluck, and shrewd business acumen to reach and exceed a $20m mark. The crux of the matter here is not to be relegated to our capabilities only but more importantly, the amount of time it will take to reach that income mark. And that is the essence of business competition in the 21st Century.
Suppose X Manufacturers are your most troublesome competitor by virtue of selling the same product your firm sells. Say it takes you 20 days to break-even, and it takes them an effortless 10 days. What are the facts? The facts are: they are ahead of you not only by sales but by time and space – covering much, at a short space of time. Anything they sell after day 10 is a process of moving out of survival mode to expansion phase. While they have the right to talk about tapping into other markets … common sense suggests that your “organizational conversation” for the time being, ought to be on issues around survival, breaking-even.
Businesses are successful for a simple reason that they have found an enlightened way of creating a product that shrinks time intervals between earnings. That is perhaps one of the many reasons words such as strategy, innovation, marketing or positioning have come to the fore of modern day practices. Strategists don’t strategize for strategies’ sake. Innovators ought not to innovate for the sake of innovating. Likewise with marketers: their role is not to position a product for marketing’s sake. All of the aforementioned terms have become the most used terms in today’s economy simply because apart from them making people sound smart at the harsh reality of uttering them, they are a clear indication that it is obviously through the more of their practical use that the issue of more earnings outweighs the issue of time hence the writing on the proverbial wall in every corner proves that individuals more than ever before, are now flocking toward entrepreneurship and its all for the sake of not letting time dictate when, and how much they should earn.This then, in conclusion, presupposes a shift in mentality from “what I do” to “how I do it.” All this – I have written for the simple purpose of laying down the age-old immutable business fact: TIME is MONEY. And if one is not tactical enough with these two commodities, one sets oneself to losing both.