Money Today vs. Money Tomorrow
Balancing the right amount of input on money today vs money tomorrow is a time management exercise that will help to keep money flowing through your business today and enable you to scale your business tomorrow, but not everyone finds the right balance. Tune in to hear Rob share his thoughts on income generating tasks, key result areas and how you balance your time and money on the right income streams for sustainable growth.
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KEY TAKEAWAYS
Money today is your hourly rate, your consultancy rate and the money you get from the work that you do directly. This can consist of over the phone selling, mentoring and tutoring with a direct income earned today.
Money tomorrow is future income streams, future businesses, strategies and ventures that will generate you an income in the future. This can consist of business planning, ideation, future joint venture partnerships and deals you’re working on that will net an income in 12-18 or 24 months.
Key result areas work on money today and money tomorrow. For example, working on joint venture partnership and future deals are key to success but will only generate money tomorrow, however, it’s essential to invest time in partnerships and future deals for security and if money today dries up.
Income-generating tasks work purely on money today and create the money that helps your business survive on a day-to-day basis.
Aim to work on the 80/20 principle. Spend 80% of your time working on income-generating tasks for money today such as sales calls and marketing and 20% of your time on KRA’s for money tomorrow such as partnerships and collaborations.
Once you have scaled your business and have a staff and a sales team you can flip the 80/20 principle and spend 80% of your time working on money tomorrow strategies, deals and partnerships.
BEST MOMENTS
“If you spend eight hours a day on money tomorrow you can’t make money today and that’s a problem”
“Money tomorrow is uncertain but it’s essential to create ventures that will generate money tomorrow in case money today dries up”
“By working on money tomorrow you will ensure your company grows”
“By having a staff focused on money today you will ensure you keep money flowing”
“Admin is not money today or money tomorrow, you need to outsource the admin tasks that do not directly generate you an income”
VALUABLE RESOURCES
bit.ly/Robsupporter
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn: https://uk.linkedin.com/in/robmoore1979
