biophase
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In real estate, there is a thing called best use. If you have a piece of property on a busy corner, a single family residence probably isn't the best use of the land. An apartment building probably isn't either. It's fairly obvious that this spot is best suited for a commercial property. However, is a candy store or an art store the best use? probably not. A gas station would probably be better suited for this property.
I've been struggling with how to use my time lately. I understand the philosophy of making the best use of your time. For many of us, we think money when it comes to best use.
For example, I've been wanting to put a fountain in my backyard for a while. This fountation will cost me $150 in materials and probably 8 hours of work. If I were to hire this out, a contractor would charge me $400 to put this in.
As a "fastlane" thinker I often ask myself, is this the best use of my time. When I'm done, I've saved $250 or about $30/hr. Could I have spent this time doing something better?
My answer is probably. I could have spent the same 8 hours dilgently working on my business or real estate. The potential ROI on the 8 hours is far greater than $250.
So why do I contemplate building this fountain myself? Because it's fun to me and I want to do it. Sometimes I feel guilty doing this because if I could get a job at $50/hr, so I am leaving $20/hr on the table. This is clearly not the best use of my time.
So I often ask myself, if I had all the money in the world, would I still be doing this?
Many times we fall into the trap of always thinking about how to make money that any time we spend not trying seems like wasted time. We shouldn't feel guilty in wasting time. After all, we're all trying to make money now, so we can "waste" our time later relaxing. There's no reason we can't do that now.
:smx6:
I've been struggling with how to use my time lately. I understand the philosophy of making the best use of your time. For many of us, we think money when it comes to best use.
For example, I've been wanting to put a fountain in my backyard for a while. This fountation will cost me $150 in materials and probably 8 hours of work. If I were to hire this out, a contractor would charge me $400 to put this in.
As a "fastlane" thinker I often ask myself, is this the best use of my time. When I'm done, I've saved $250 or about $30/hr. Could I have spent this time doing something better?
My answer is probably. I could have spent the same 8 hours dilgently working on my business or real estate. The potential ROI on the 8 hours is far greater than $250.
So why do I contemplate building this fountain myself? Because it's fun to me and I want to do it. Sometimes I feel guilty doing this because if I could get a job at $50/hr, so I am leaving $20/hr on the table. This is clearly not the best use of my time.
So I often ask myself, if I had all the money in the world, would I still be doing this?
Many times we fall into the trap of always thinking about how to make money that any time we spend not trying seems like wasted time. We shouldn't feel guilty in wasting time. After all, we're all trying to make money now, so we can "waste" our time later relaxing. There's no reason we can't do that now.
:smx6:
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