The Phenomenal Power Of Income Time vs Busy Time
Ever wondered why some investors continue to rack up investment after investment, while others languish? If you are in business: have you pondered, in the wee hours of the night, why the business next door to you is going gangbusters and you are languishing? Then I believe you need to read this.
Now, if you just tuned out because you think you’re not in business and you are an ‘investor’ wait until you own more than a dozen properties – you will figure out it’s a business.
One of the secrets to making more is to discover which kind of ‘time’ you are living in. There are only two kinds of time that you have. Busy time is the time you spend that does not make you money. Whereas income time is doing a particular group of activities that make you money.
Let’s delve deeper to discover what kinds of activities are in each kinds of time. Going to seminars is really valuable. It’s important to get an education; in fact I believe it is vital. But that is busy time. Chatting on forums can be a good idea, but that is busy time.
When you are out looking for deals – that is income time. When you are negotiating deals – that is income time. Those are the times when the potential of making money arises.
Let’s look at how this relates to business. For example, when I had a real estate company, what was actually income time? Yes, sales, when I was actually selling something, or advertising something to be sold, or making sure that the sale went through. All of that was income time. But was shuffling paperwork or talking to people in the office, running meetings, or photocopying, is that income time or is that busy time? It’s busy time.
Now do NOT misunderstand me. I am NOT saying you should only do income time, of course you have to create systems and do all the little details etc. However, you need to understand that this alone will not produce income.
I think for most people the reason they don’t do more income time is because this is where the ‘Fear Zone’ is. The Fear Zone, in relation to income time consists of two things. The first is, “what if I make a mistake? What if I screw it up and lose?” The second reason is that it is confronting. In the beginning, it is confronting to put yourself out there, talk to agents and be proactive.
So people avoid the Fear Zone. They stay stuck in the Safe Zone. The Safe Zone is sitting on the sidelines; but no one ever played a game of football, tennis or hockey sitting on the sidelines.
You have to cross that thin white stripe, that separates the sideline from the playing field. And that is what terrifies people. It’s the thought of just putting one foot over the line.
Richard Branson said once that journalists write countless words about how Virgin has succeeded, but he added, “at Virgin we just pick up the phone.” It was his way of saying they just take action – they step across the line.
Once you take that first step it is usually so much easier. It’s that first step, having to make that call, or going to see that property, or if you are in business doing the thing that will propel you into income time that is scary. But the funny thing is that once you take the first step, there is often a wave of relief and an incredible feeling that you are accomplishing something.
As Lao Tzu said, “the journey of a thousand miles begins with a single step.”