Profit = Monopoly = Time management

Brilliant business men know that profit comes where monopoly is. Most of efforts in each business is to create a monopoly.

Well we talk about big guys like Steve Jobs, Bill Gates, Warren Buffet. Is it so, that simple people cannot have or create monopoly? Can and do! Lets analyze monopoly:

1. Monopoly of Your time. You are the only master and decide where to invest Time and what to get back for it. It huge resource, taking to consideration, that most of people do not measure their profit on main monopoly – TIME!
2. Monopoly of knowledge and skills. This type of monopoly already is shared with others, because similar knowledge and skill may have everyone who wants. Well – but here is always somebody the best. Be him!
3. Monopoly of invention. You invent something new, patent it and are protected for limited time. You may have knowledge and skills but cannot sell it because have no patent. Protect Your knowledge!
4. Monopoly created by money. Some people decide to invest a lot money and create product or service and you cannot because you have no money or do not know how to join money of other people in joint venture. They win!
5. Monopoly created by community or state. State decides that e.g. water utilities company is enough for small city and issues 1 license for this service.  Long way to become politician to do such influence or owner of money. Still lots of politics’ monopolies are done using money of interested parties. Long and unclean way!

Where we have come? what is first and last, never diminishing monopoly?

We arrived at the time management!

Your first and last monopoly will be Your TIME. Count it as You count Euros in the pocket. Take serious each hour. Measure as if Your Hour is a currency comparable to e.g. 50 EUR. Measure where you spend Your currency – Hours and you instantly become of investor mindset. First to become an investor is right mindset. Second prompt action. Third consistent learning.

If I build a shelf at home and materials cost 100 Eur, my time 20 hours – I know that this cost is: 100 Eur materials+ 50 Eur/hour * 20 hours = 1100 Eur. Well to buy finished shelf is much cheaper and buy it.

Higher I sell my hours – higher rates goes to calculation of time investment projects. This way my calculations reflects today’s reality.

Or for example if I want to repaint my car and painter says is will cost 3000 Eur, while paint costs 200 Eur, and it will take 30 hours of my time: 200 Eur + 30 Hours * 50 Eur/hour – I do it myself (if there are knowledge and skill of course ).

How do I know what time shelf production or car painting will take ? I track it as  You probably track Your pocket money or accountant track companies funds.  I do it here beedo.net and most of my main monopoly know-how findings comes from here. Longer I track it and make findings – more experienced I become as TIME INVESTOR.