In this article we take a look at the commonly held belief that time is money. We deconstruct this misconception to understand its true meaning and identify how it applies to the Self Aware individual.
It is a common adage that ‘Time is money’. However, if time is all you have, without any skills or any social connections, your time is worthless in monetary terms. Unskilled labor is available for cheap cash all around the world.
Time & Skills
If you have Time & Skill, but are unable to sell due to lack of social skills, again – both your time & skills are worthless in monetary terms. Too many skilled individuals have lived a poor life, only to gain fame after someone else sold it for a fortune. If you don’t have time left on you, both your skills and relationships are void.
Time & Relationships
If you have Relationships & Time, but no skills, you cannot monetize it in the long run. In the short run you may be successful in getting money from social connections, but if they don’t find value in what you are selling i.e. your skills, they will leave you, or stop buying at least.
So, it is the trichotomy of Time, Skills & Connections – that generate money.
Time Is Money If…
On the other hand, if you are already generating a lot of money due to your skills & relationships, your time becomes precious. So, time is money, only for the wealthy, who already have plenty of skills & connections, but don’t know how much time they have left.
Self Awareness Questions
- Which of these three do you believe you are lacking the most?
- Identify one strategy to offset that deficiency?