This week I’m sharing something I wrote last year for one of my members’ only Cashflownaire Newsletters.
I honestly believe this strategy (selling time) is THE most powerful strategy you could use to reach your financial goals. I use it with just about everything I do.
In fact, I’ve even included the “ugly” sketch I use personally for this strategy:
Time is so incredibly valuable. The problem is most people don’t properly value time. They trade time for money, which is obviously a poor trade.
As Cashflownaires, we use money to buy time. We’re also going to go one step further by arranging things so we can profit from time. We profit from time by selling time.
The only way to sell time is by renting assets you own (or control) to others. We’ll define an asset as anything you own (or control) that someone else would pay to have access to – or – to use temporarily.
The key idea to understand is the access or use of the asset expires at some point in the future. When access to the asset expires, you have the ability to sell access to another person. Think of the things that you must renew and you’ll start to “see” time being sold. Consider what you have to renew periodically?
– Leases (car/equipment/real estate)
When we renew something, we’re paying for time. You can prorate the cost of the renewal over the period of time you have access to the asset to figure out what you’re paying per day.
We have four basic options for selling access to our assets:
1. Sell ONE person access to ONE asset – If you own a single-family home that you rent to one family, you’re using this strategy. You get paid for every day this family uses your home. When the lease expires, you get to renew it with the same family, or a new family.
2. Sell ONE person access to MANY assets – My oldest daughter is in college. Each semester, we have to make a tuition payment. This tuition payment gives her access to many courses during a specific period of time.
3. Sell MANY people access to MANY assets – My daughter’s college isn’t just selling the classes to her. They sell temporary access to these classes to many students at the same time.
Another example of this might be your local Handy Rents store. This is a store where you can rent just about any power tool you might need. This business owns many assets, and they sell temporary access to these assets to many people.
4. Sell MANY people access to ONE asset – I pay a monthly membership fee to work out at my gym. This gym has many members who all have access to the same asset.
Mental Exercise: Make a list of businesses that sell time in each of these four categories. It will be very helpful for you to “see” this clearly. You’ll probably find that the two most common strategies are:
1. Sell ONE person access to ONE asset.
4. Sell MANY people access to ONE asset.
You’ll also probably find that some business use a combination of all four strategies. The most profitable strategy is selling MANY people access to ONE asset. This strategy unlocks the ability to sell time exponentially.
Here’s a short list of businesses that use this approach:
1. All gyms
2. Country clubs
3. Self-storage complexes
4. Apartment buildings/dorms
5. All timeshares
6. Party centers
7. Bowling Alley/Skating Rink
8. Cruise ship
10. Barn with horse stalls (my daughter rides)
11. Student rental properties
13. Amusement parks
14. Short-term rentals – Airbnb – Hotel
15. Malls – Shopping Plazas
16. All Memberships – All Paid Courses
17. Funeral homes 🙁
The challenge with all of these strategies is the amount of investment needed to acquire the asset. You typically need a lot of cash to buy or build a single-family home, an apartment building, a self-storage complex or a hotel.
The most profitable opportunities are the ones that allow us to sell time without having to make significant capital investments.
As you think through all of this, you’ll probably come to the conclusion that the most profitable way to sell time is through a membership or course.
You can create a membership or course without a significant investment. More importantly, this ONE asset gives you the ability to sell time to MANY people.
Now, if you’re ready… I’m gonna show you the money!
Use your money to buy income-producing assets that allow you to sell time using different rental systems. Use your time to create income-producing assets that allow you to sell time through memberships and courses.
When you combine all of this, you set yourself up for the opportunity to sell every day, hundreds (if not thousands) of times.
How many times did you get paid today?
How can you increase the number
of times you get paid for tomorrow?
Imagine what it might be like to be able to sell tomorrow 100 times to 100 different people? Are you starting to see the power of this strategy?
The “ugly” sketch I included above holds the key to financial success because it allows you to profit from the most important resource in the world: time. More specifically, your time.
The reality is that we either profit from time, or we spend time. And if you’re not profiting from time, then you’re spending time by default.
The average person spends time. We’re not average. Above-average people invest time. We’re not above average.
We’re Cashflownaires… and we SELL time.
On a high level, the magic of compound interest is really a way to profit from time. We can build a financial fortress that profits over decades. We can also buy or build assets that allow us to sell time, creating daily profits. Each money-machine asset in the my “ugly” sketch gives you the ability to compound daily profits. You can then turn those daily profits into a financial fortress, leveraging dividend growth over decades.
If this strategy of selling time resonates with you, I have two opportunities for you to consider:
1. Become a Cashflownaire Member here. As a new member, you’ll receive several bonuses that will show you how to sell time with real estate. In addition, I detail exactly what I’m doing to sell time in my monthly members’ only newsletters. You can copy my strategies for yourself. I just released the March Issue and it’s jam packed with strategies you can use to increase your monthly cashflow.
2. Take my 5-day course on how to start your own Membership business. This course includes a seminar Dan Kennedy and I gave about one of my membership businesses. This course is normally $197; however, I’ve discounted it to down to $20 bucks for the next few days.
Regardless if you take advantage of either of these two opportunities, you should seriously think about selling time.
The best businesses in the world use this strategy extensively. These businesses include Amazon, Disney, Netflix, AT&T, and Apple.
P.S. Disney is by far the best business in the world at selling time. They sell temporary access to their hotels, their theme parks, their soft-drink mugs, their cruise ships, and their video content.