Automate: The Permission to Invest

by Meaning Ring on 2016/09/01

In every transaction there are multiple types of cost:
- Actual cost is the amount of money you actually paid for something.
- Opportunity cost is the equivalent amount of what you gave up by buying something else.
- Hidden cost is the amount of potential return you would’ve received had you invested that money instead of spent it.
- Hidden cost is the greatest of all of these costs and it is the one that the fewest people ever pay attention to.
Anything that wastes your time is a waste of your money.
Many people and companies know they need to invest in better systems but cite “not having the money” or “not having the time” as the reason why they can’t. Yet, when you apply the Significance calculation and take time into account, you see that it is literally costing them more not to make the investment. They are missing the permission to Invest.
A company can never outgrow the strength of its systems.

Automation is to your time what compounding interest is to your money.
The greatest threat to anyone’s success is not a lack of talent, a lack of education, a lack of resources or a lack of opportunity; it is shortsightedness—a lack of vision. The Significance calculation changes everything.

The average smoker spends fifteen hundred dollars a year on cigarettes, which invested every year for forty years at 8 percent would be worth $421,172.56.

What things are you doing over and over again that you could invest time and/or money into automating?

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