Time Really is Money
FROM THE AUTHOR OF
THE SECRET TO CREATING WEALTH
Time Really is Money is NOT another boring business book!
WHAT YOU WILL LEARN
CHAPTERS
READERS FEEDBACK
This is an amazing book and concept. Most other value creation methodologies are generic and based purely on theoretical concepts. Rob’s view is actionable and focuses on maximizing on the scarcest of resources; time!
Well thought out, well presented and worth the price of admission.
Excellent book for those business people interested in better than just earning a living but creating a focus on the factors that truly drive and deliver value. Rob delivers another exceptionally well thought out book.
A NOTE FROM THE AUTHOR
I’ve owned dozens of private business interests and have written a handful of books and hundreds of articles on value creation. But it wasn’t until I started mentoring owners on entity value creation that I figured out what it really means to work smarter.
Specifically, I learned that most owners spend the majority of their time on less than $100 per hour activities. These people are tactical and thus will never enjoy business wealth. It’s just mathematically impossible to build a valuable business at such low hourly rates.
The question was how to get busy and tired owners to first work on $500 per hour activities, and later on $5000 per hour actions, which is where the real fun and wealth begins. The answers to these questions yielded a value creation process, which is the story of this book.
– Rob
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KEEP IN TOUCH
Thoughts on Creating Value
How can morons cost you $50k per hour? My hourly rate is $50k, so if I spend a business hour with a moron, they have cost me $50k. I hear you: why would I ever spend time with a moron?
I’ve been asking myself this same question for years. For the most part, I have isolated myself from morons, but there’s still the occasional business academic, appraiser, or exit planner who slips through the time blockade. More often than not, people in these groups add zero value in the real world. They’ve never personally created value in a business, so they have no way of recognizing it. And there’s no use trying to educate them, as they are completely incapable of adding value any way.
In all fairness, I need to differentiate between morons and those who may add some value, but who are caught in the Matrix. Here I’m talking about most professionals: lawyers, CPAs, and planners. Most people in these groups are not concerned with adding enough value to even pay for themselves. They matter-of-factly promote their services as an expense, without any concern for the user.
Here is our example. I recently called my long-time corporate lawyer and told him that I was about to need audit help in selecting jurisdiction and legal frameworks for two new businesses I was creating. Before I could even frame the issues, my lawyer stopped me and said he had been promoted to run his large firm, and that “they” (whoever they are) would not let him work for less than $1,000 per hour.
His presumption was that I couldn’t afford his $1,000 per hour legal services, and that he would need to hand me off to a “cheaper” lawyer in his firm. What a dilemma!
I then told him that my hourly rate was $50,000, and that I was asking him to provide $25,000 per hour solutions, of which I would pay him $1,000 per hour. He was stunned, because in his 30 years of practicing the law, he had always promoted his services as an expense. Therefore, it was entirely up to his clients to use him in a way that created value.
Here’s my question to you: are you a business moron, a Matrix expense, or a value creator?
Of course, your answer determines whether Time Really Is Money the book for you.
Latest Thoughts
Every author has to make choices, or their writings have no end. Such was the case with my latest – Time Really Is Money. I was determined to write a 200 page book, which meant that the following 5 things were not included. If you haven’t made it by 50 If you own your own
In last week’s Moment I talked about how much more lucrative it has been for me to startup companies recently rather than acquire them. I went on to say that institutional investors, such as PEGs, have been generating less than 6% returns in the past decade, and this number would tend toward zero (at best)
Each week I get bombarded from private equity groups, family offices, hedge funds and individuals – all wanting to buy a business. All of these people have one thing in common: they are not driven by ROI. Because for the last 3-4 years, it has been a much better use of time and money to
I spent the last few creating a unicorn. What? Read on, because I’m about to convince you that unicorns really do exist. Imagine creating a startup that investors value at more than $1 billion. That’s a unicorn. Now imagine that there are hundreds of unicorns roaming the technology forest. And almost all of these are
I’ve made a fortune as a result of not listening to the Words, “That will never work!” Most people in the Matrix are so in love with these Words that their entire existence is constrained by them. You should love the Words as well, but for a different reason.
How time flies. It seems like only 3 months ago that I took a sabbatical from writing these MidasMoments so I could finish my forthcoming book. I have good news on this front. The book is done and I’m pleased with it. Now we’re gearing-up for the social media campaign.
Over the past few months I’ve witnessed dozens of violations to middle market finance. If you don’t know what that is, you haven’t read my textbook, Private Capital Markets. And chances are good that you are one of the people making a fool of yourself in the middle market.
It’s a wonderful time to be rich in America. I’ve never made so much money and had so much fun spending it. I’m not alone, either. If you make at least $500,000 per year, you are a 1%er, and this is a golden age. I think Reagan’s old Budget Director, David Stockman, generally has it
Chapter 4 THE LADDERS OF SUCCESS Much has been written about climbing the ladder of success. Most endeavors can be described by the ladder of success metaphor. I think Ayn Rand had it right when she wrote that “the ladder of success is best climbed by stepping on the rungs of opportunity.” We’ll follow her