Why Waste Time when you can Build Wealth?

Posted in News
Tue, Apr 14 - 2:57 pm EDT | 5 years ago by
Comments: 2
Share This Post:
  • Facebook
  • StumbleUpon
  • Tumblr
  • Reddit
  • Twitter

flow-of-time-money-coverThis is a guest post from Lloyd Watts, as part of his virtual book tour. His book is titles The Flow of Time and Money: How to create a full and prosperous life.

Most people have a desire to be successful, wealthy and fulfilled.  And yet, if you look at how most people spend their lives, you will see that they are spending both their Time and their Money in a way that will not lead to Wealth or Fulfillment.

Why would we want Wealth and Fulfillment so much, and yet act in a way that prevents us from achieving them?  There are a large number of reasons – as many reasons as there are people.  But I have seen a number of recurring themes:

  1. Building Wealth takes Knowledge.  It doesn’t happen by itself – you have to know what you are doing.  By that, I mean, you have to know how Time and Money work, so that you can invest in your Life Assets (education, health, relationships) and your Material Assets (businesses, real estate, intellectual property).  It takes time and effort to do these things, and many people just don’t know where to begin.  I have been fortunate to have mentors in my life to teach me, and I have sought out knowledge by reading books and by putting the principles I have learned into practice.  This is the purpose of my book, The Flow of Time and Money:  How to create a full and prosperous life – to put in a single place, in an accessible form, all the knowledge you need to become successful.
  2. Building Wealth takes Work for a long time.   Yes, I said it:  Work.  Lots of enjoyable, interesting work for a long time.  Anyone who tells you that lasting wealth can be achieved quickly and easily is trying to sell you something.  Building wealth doesn’t happen overnight.  It takes time – many years – and it takes organized, disciplined effort through those many years to reach the goal.   That’s why so few people do it.  Even if you knew exactly what do to become a happy deca-millionaire, if you knew it would take 10-20 years of enjoyable, interesting work to get there, would you decide to do it?  Or would you choose to live life day by day without a plan that leads to any particular dream?

The key to success, for every successful person I know, is embodied in the phrase “enjoyable, interesting work”.  Every successful person I know LOVES their work.  I am unbelievably excited about the work that is the foundation of Audience, my technology company.  Bill Gates and Paul Allen were passionate about computers as high school students.  Christina Aguilera practiced singing in her room for hours and days on end until her family couldn’t tell if they were hearing her or the radio.  Wealthy people worked hard because they loved what they did, and the money followed. In The Flow of Time and Money, I describe this work as Investing in their Life Assets (education, skills), which they then translated into Material Assets (intellectual property, software, music recordings, etc.).

One of the consequences of knowing what to do, and deciding to do it, is that a lot of popular activities may begin to look wasteful.   The average American watches over 4 hours of television each day (A.C. Neilsen, 2005).  Many people have a commute to work that is over an hour each way.  That’s 6 hours a day that could be invested in developing a Life Asset, like a skill or your education in an area that you can translate into a Material Asset.  If it’s something you are passionate about, it won’t feel like work – it will give your life meaning, make you a more interesting and attractive person, and give other people a reason to get involved and help you succeed.  Mentors help people who are trying hard to help themselves.  And everyone loves a winner.

I believe that if more people knew what to do, and decided to do it, we would have more people who are wealthy and fulfilled, and able to help others.  This is not just about personal wealth and fulfillment – there is a collective effect that occurs when many people succeed.  The Flow of Time and Money was written to provide the knowledge that you need, and to give you a reason to decide to make the effort, so that you can improve your own quality of life and make a positive difference in the lives of others.

Lloyd Watts is the Chairman and Chief Technology Officer of Audience, Inc., an award-winning technology business that he founded in 2000.  Lloyd’s book, The Flow of Time and Money: How to create a full and prosperous life, is available at Amazon.com and at www.flowoftimeandmoney.com.

Image source: Lloyd Watts

Reblog this post [with Zemanta]
Share This Post:
  • Facebook
  • StumbleUpon
  • Tumblr
  • Reddit
  • Twitter