The most powerful force in the universe is compound interest
We all know about the power of compound interest (at least we should). Basically you take a few dollars and put it away for a few years and the interest you earn earns interest. Before you know it you have much more than you started with. Can you apply the same concept to time? That’s the question asked to Tim Ferriss of The Four Hour Workweek. Unfortunately he doesn’t provide an answer. But we all know the answer is obviously yes- investing is one of the principles of success. Here’s six ways to compound time:
You don’t have to do everything yourself. Get rid of the easy tasks so someone else does it for you. Need someone to do payroll try a company like ADP then all you need to do is spend a couple of minutes sending them your data and they take care of the rest.
Some tasks are too complex or personalized to outsource- instead you can insource it (delegate). Train someone to do your job inside your organization or family- a few minutes of training or direction can give you huge dividends in the long term. Sometimes just asking is all you need to do.
Invest a small amount of time to get a machine/computer to do your job for you. This is why I love computers. They have the potential to do exactly what you need you just have to tell it the right way. It may require a special program, a special setup or even some programming but if you find the right command your computer will do your work for you and will never complain.
Investing in learning time is crucial. Sometimes learning simple techniques can end up saving you much time in the long run. Learn how to type faster. Learn advanced features of your word processor. Just Learn.
If you’re the guru in your house or your office, you’ll often get all kinds of requests- each of which takes you away from what you need to accomplish. The solution is to invest time to teach the person how to do it themselves. So go ahead: Teach your kids to pick their own close. Teach your coworker to run a report you created. As the saying goes “Give a man a fish; you have fed him for today. Teach a man to fish; and you have fed him for a lifetime.”
When there is a system to your actions it makes it much easier to succeed. Think about a recipe- it tells you exactly what you need to do. For projects that you create look into making it systematic. It takes away complexity and limits the risk of problems.
With the Success Blueprint youâ€™ll always know what youâ€™re supposed to be doing and what needs to be done next. Itâ€™s a formula that helps you succeed. Your machine works for you invisibly even if you arenâ€™t actively working on it.
This just shows the value of time don’t waste it. Do you have any techniques to compound time? Let me know below.