Imagine time as a bank account, where you can either invest or spend it.
Time assets are decisions and actions that are like making deposits in your time bank account. These are choices that benefit you in the long run by saving you time in the future. Think of it like choosing to skip that pointless meeting, automating your repetitive tasks, and working on projects that will give you compounded benefits over time. You get the drift, right?
Time debts are like swiping your credit card without thinking of the consequences. These are choices that may give you short-term gains but will eventually cost you more time in the future. For example, saying yes to a meeting you don’t need to attend, rushing through a task and producing subpar work that will require revisions, and putting off important tasks. (By the way, doing your own bookkeeping also falls in this category. Outsourcing admin tasks so you can focus your time and energy on revenue generation and leadership is how you improve your profit!)
So, if you want to live a stress-free life and achieve your goals, prioritize time assets over time debts. Think of it as investing in your future self. Just remember, time assets are like savings accounts that yield long-term benefits, while time debts are more like expensive credit cards that must be paid off. Choose wisely!