Money Rich - Time Poor

by Martin Boyd

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It was Rob Parsons who used the phrase ‘Don’t settle for being money rich – time poor’ Parsons has a number of books helping people to see that what is important, lasting and worthwhile can often be bumped out of the way by what is fleeting and ultimately disappointing.

For many Covid has given us a year to re-evaluate what is really important. An announcement each day about how many people have died in the last 24 hours does focus the mind somewhat, doesn’t it?

Businesses have collapsed and jobs have been lost bringing with it a natural moment of introspection. Those on furlough have begun to see that perhaps they have been missing something - life has slowed down and with the daily routine stripped away there has been time to take stock.

Much of the thinking around this year has been centred on what we do with our time. Many of us already knew we were money rich but time poor.

Yes, money rich! I’m not assuming too much surely - knowing we are rich is an important truth to meditate on regularly. You may know the ‘If the world was a village of 100 people’ concept: for instance, of the 100 villagers, 53 would live on less than two U.S. dollars a day. So...

  • if you keep your food in a refrigerator

  • if your clothes are in a closet

  • if you have a bed to sleep in

  • and a roof over your head

you are richer than 75% of the entire world population

Blogger Steve Glaveski wrote, ‘You are no doubt much better off than Kings and Queens of Europe were just several centuries ago. Running water, electricity, healthcare, education, food, shelter, social benefits, transport, almond lattes, avocado smash brunches, European holidays, and a reasonably good chance of living to 75.’

If you earn US$32,400, congratulations — you are in the global 1%.

Time Rich is the New Rich

Warren Buffet put it like this, ‘The rich invest in time, the poor invest in money’.
This is not the place for me to give the ‘there’s more to life than business’ pep talk.

But for a moment it’s worth considering this about your business: are too busy to be efficient?

Throwing time down the drain? What is striking is that having a moment to stop and consider things this year is allowing people to consider how they can stop throwing their time down the drain.

Many businesses are time poor because what began as a ‘put up with it’ became a ‘that’s just how we do it’ which then solidified into an accepted ‘process’.

At Spoonfed it has been good to help people out of that rut. Going through the devastation of Covid is not a pathway they would have chosen but the destination is a far better place to be in.

Caterers saving time for their foodbookers. Kitchen managers cutting out time wasting processes for their staff. Managers getting their Friday nights back as they are not chasing invoices and cross charges.

It’s wealth creation each day of the week.

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