Other’s Time and Other’s Money – Two Sure Shot and Fastest ways to Wealth Creation

 

19^th September 2020

Other’s Time and Other’s Money – Two Sure Shot and Fastest ways to Wealth Creation

Dear Fellow Travelers,

Namaste! Study any billionaire’s life and you will find that he has used two resources like anything on his way to Top. These two resources are – other’s time and other’s money. He may use time by giving them job / as coach / as consultant/partners / as a customer or as a supplier. He may use other’s money in the form of Loan / Equity or credit from a supplier. When Masses are told about these ways – they say – we can’t afford employees or consultants or can’t take a loan in our kind of business and things like that.

Today I am sharing you a way to use other people’s time FREE of cost for a lifetime.

Whom do you love the most?

One person, we love the most apart from our near and dear is our customer. You will hardly find any trader/shopkeeper or a corporate, who will not love their good customers.

You will love your customer the most – if he is not wasting your time while shopping / if he is not bargaining in price / if he is not asking for credit / if he is regular in payment / if he is giving your reference to his friends.  

Most shop keepers will go out of the way to please and keep these customers.

I came to know this secret early in life thanks to my business coach. He asked me to become the best customer I can. Without any argument – I started following this rule. In the process, I have developed a good ecosystem of suppliers around me. Starting from Vegetable Vendors / Fruit Vendors / Kirana Vendors / Jewellers / Brokers / Doctors / Chemists / Tickets booking agents / Plumbers / Mobile and Computer Vendors - you name the thing or services and I have my suppliers in my areas only.  When they see me or hear my voice on their phone – they feel happy because I am in their top 10 good customers. When they get my call – they make sure that I get my things or service immediately.

Thanks to my ecosystem – I enjoy the following advantages.

1.   Just in Time Service or Things Delivered.

2.   Consistently Good quality of goods and services

3.   Fair prices

4.   Saving tons of time

5.   Family Relationships.

How about ONLINE shopping?

I have seen there is an increasing craze for online shopping. I don’t like online shopping because of the following reasons.

Wastage of Time and Money: -

Most middle-class guys have a love for saving money. They spend hours looking for the best deal. Sometimes, they remain awake till 2am when the deal is offered on the website. All these things are done to get some discounts.

Most of the times – thanks to discount and bundled offers – they end up spending more on not required things. So, money is not saved and time is also not saved.

No Personal Touch: -

You may argue that you are saving money by smartly shopping – but there is no personal touch. You don’t become family members to somebody.

No Consistent Quality: -  

My suppliers know what I want. They will make sure to deliver to me what I want at my time. In online, there are a lot of scams that have come out where the duplicate branded goods are sold instead of original goods.

In your Kirana and Food Items this cheating is the most rampant with the customers.

Saving Mentality V/s. Growth Mentality: -

Middle class guys have limited income and they want to move up the class chain. They believe that by saving money they can grow faster. They are 1000% wrong. Say somebody is earning Rs.25000 per month. Now, if he tries to save money from this income – he may save Rs.5000 at the most. For saving these Rs.5000, he wastes his time to finding discounts and moving in the market. Had he not saved this Rs.5000 and saved his time and learned new skill sets – he would have been to the next level faster.

The Rich do not waste their time. They know what they want / they know who supplies that and they tell them directly to deliver those things to them. They just have to make a call or message to their supplier and all other things are taken care of. They use their SAVED TIME in earning more money in their business / learning new skill sets or enjoying time with their family. This is Growth Mentality.

If you have a DIE-HARD Saving Mentality – then you must read this: -

You have two things to save – Time and Money. Your time is FIXED. Even the best doctor will not be able to save your life – if your time is over. Most of the time – money is left in tons for the next generations and life gets over.

The biggest repent the most dyeing persons have is the things they could have done while they were healthy and had time, but wasted the time in searching for the best deal or did not enjoy it because they did not get discounts.

If you still want to waste your time in saving money – it’s your choice.

Who will cry when you die?

If you are a good customer – I am sure all your suppliers will MISS you when you are gone. So, create an ecosystem around you – who can support you and your generations with their services FREE of Cost for a lifetime.

Your relationships are also your hidden wealth. If you have created – your generations will have an easy time going forward.

In practice – I have seen that in times of emergency – my relationship wealth was more effective than my money.

Make your choice.

I will deal with Other’s Money – in my Future post.

Follow me on Twitter @hiteshmparikh Or on Whatsapp - +91-9869425399.

 

Live With Passion…Invest With Passion.

 

Hitesh Parikh.