While the vast majority of people chase money, the ‘new rich’ have learnt the value of finding an optimal balance of TIM (Time, Income & Mobility) instead. There are 2 major advantages of focusing on TIM – (1) Having time and location flexibility, can lead to your money being worth a lot more (2) Time and Location independence can lead to happiness and content, which money simply can’t buy.
Advice from Masters – Quotes & Tips on TIM (Time Income Mobility)
Freedom Multiplier: Money is multiplied in practical value depending on the number of W’s you control in your life: what you do, when you do it, where you do it, and with whom you do it. I call this the “freedom multiplier.” If you can free your time and location, your money is automatically worth 3–10 times as much.
Mini-retirements: Retirement Is Worst-Case-Scenario Insurance. The New Rich aims to distribute “mini-retirements” throughout life instead of hoarding the recovery and enjoyment for the fool’s gold of retirement. By working only when you are most effective, life is both more productive and more enjoyable. Personally, I now aim for one month of overseas relocation or high-intensity learning (tango, fighting, whatever) for every two months of work projects.
Your path: The question you should be asking isn’t, “What do I want?” or “What are my goals?” but “What would excite me?
Location & Time flexibility: Work wherever and whenever you want, but get your work done.Tim Ferris – Author – 4-hour workweek / Tools of Titans / Tribe of Mentors
You don’t have to live your life the way other people expect you to.
What if you save for 40 years, putting off all kinds of opportunities, then get hit by a bus the day before retirement? Better to plan for the future while also living in the present.
The new reality is that working at a job may be the far riskier choice.
It’s better to be at the bottom of the ladder you want to climb than the top of one you don’t.Chris Guillebeau – Author – The $100 Startup / The Art of Non-Conformity / Side Hustle / Born for This / The Happiness of Pursuit
A desk is a dangerous place from which to view the worldJohn Le Carre
Top 7 Books to Inspire you to Escape the Rate Race and Leave Your 9 to 5
It’s time to let go off being a corporate slave and leave your 9 to 5 job. These books will inspire and show you how to quit the rat race for good, while continuing to earn an income.
Other concepts on Entrepreneurship
Your business is only going to be as good as the people who run it. All successful entrepreneurs know that putting together the right team of professionals is one of the most critical steps for any businesses success, while newbie entrepreneurs often try to do it largely alone. Learn to surround yourself with superstars, and you are sure to succeed in any endeavor.
A niche denotes products, services or interests that have a high appeal to a select smaller group of people, as compared to the general populace. By laser focusing your services and communication to the needs of this smaller group, you can gain much higher relevance than trying to target everybody.
Commitment & Perseverance
Perseverance is the continued effort to do or achieve something despite difficulties, failure, or opposition. You are sure to come up against obstacles, challenges, doubts and failures as you progress towards your goals. People who succeed persevere with their efforts no matter how hard the challenges, while others give up on their dreams once the going gets too tough.
All business and professions are about one thing – creating value for someone else. When you are able to create value for someone, you can expect to be paid for it. The more value you can create, the more you will earn. Focus on creating value and you will have a valuable enterprise.