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Hey guys, Dino Gomez here and you are listening to the Secrets of Coaching podcast where we break down the nuances of growing a seven figure online coaching business. And we are about to get started in three, two, one.
In today’s episode, we’re going to be talking about money versus time. This changed my life. All right, guys, let’s jump right into this one time versus money. All right? And how the wealthy think. All right. This is so critical. This changed my entrepreneurial career when I first heard this. All right, so let’s go back way back in time to when I was a young pup, I was 23 years old. I was working in a direct advertising firm. It’s my first job out of College. They hired me as the director of marketing.
I am lucky to have a job. This was like, in the middle of the economic downturn. All right? And so most of my friends were having trouble getting jobs out of College. All right? And so I’m lucky to have a job right away. A nice paying job. Salary, benefits, 401K. The whole thing. I was there only six months before I was like, no, I’m leaving. I’m going to start my own digital marketing firm. So I did that. And the first couple of years being an entrepreneur, right?
I thought I was young I was cocky. I was all the things. And I was like, you know what? I’m going to figure this out on my own. So I would do spend hours and hours and hours watching YouTube videos. The information could be correct. Or it can be incorrect. That’s the thing about YouTube videos, like, it’s not a coach per se. It’s somebody with their opinion showing you something, and it may or may not be accurate. So I was trying to do everything by myself.
I just didn’t want to part with any money to hire a coach. The first time I hired a coach and bought into a coaching program, they doubled my monthly revenue in three months. All right. And from then forward, I was like, okay, I always need a coach. This is the fastest way to grow. All right. Now, what’s interesting, guys, when we go back to Time versus Money, is that let’s first look at time. So let me ask you these rhetorical questions. Can you get back yesterday?
Can you relive yesterday? Besides, outside of a memory, can you relive yesterday? Can you go back a week, a month? Can you go back to where you were five years ago and redo that like what you were doing in your life, right? Can you go back in time to when you were ten years old and relive being a ten year old? You can’t, like, physically, right? You can’t. So time. Can we agree you cannot get time back? So it’s your most valuable asset. Time and energy.
I’ll talk about energy in another episode. But that’s something that’s absolutely massively important to me is your energy as well. And I’m talking about your energy in terms of who you hang out with, your environment, how you feel is massively important to your results. So that’s another episode. But in terms of time, you can’t get time back, guys. So it’s a finite resource. You only have so much of it, and you don’t know how much of it you have left. All right. And one of the regrets, top five regrets of those, unfortunately, that are on their deathbed that know they only have a limited number of time left is that they wish they would have gone all in on their dreams and their passions and the business they wanted to start and on adventuring and on traveling and not caring what people thought and on taking more risks in their life because they played it so safe that they’re looking back and they’re like, Gosh, I wonder what it could have been if I would have the time you can’t get back now.
Money, right? Everybody’s so caught up on money. Let me ask you this before. Have you ever spent money and made money back? All right. Have you ever had a job? Have you ever had money come into your bank account? Have you ever gone out to dinner and you parted with some money in order to go out to dinner, you paid for your meal. So you gave money up. And then money came back into your bank account the next month or landed a client. And then more money came back in from that client.
Right. So money is replenishable. All right. Money is infinite. It’s being printed every single day. More and more money is entering the market every single day, you can spend money and get it back. Time you cannot get back. So once a day, a week, a month, a year goes by. You cannot get it back. So time is infinitely more valuable to you than money. Does that make sense? Because I can spend. This is why some entrepreneurs, if you’re looking at your competition, you’re like, oh, my gosh they’re brand new coach or consultant. How are they already making more money than me? It’s probably because they’re investing faster than you, right. And they’re investing in more mentors than you. It’s okay to have multiple mentors. All right. You can have a business coach and a mindset coach and personal trainer. You can have multiple business coaches. All right. If you’re wondering why somebody passed you up or maybe you’ve been in the industry five years. How does this new person in year one pass me up so quickly?
It’s because of the speed at which they invest because they’re willing to part with money because they know money is replenishable. They’re willing to pull out their credit card and spend money and hire a new coach that’s replenishable. It’s like an invisible asset. It’s just a piece of plastic that you gave up for a second. But they know that time is not guaranteed, and they want to move fast. So I want my coach to tell me all the things, so I don’t make all the mistakes.
And I learned all the strategies right away very quickly with their guidance, with their accountability, so that I grow faster. And so that is a question to ask yourself, are you protecting your money too much and otherwise not valuing your time? Because if you’re wondering why you’re growing slowly or not at all or that you’ve plateaued, it’s because you’re protecting your money rather than actually protecting your time. All right. The wealthy think like this. The wealthy value their time so much. This is why they hire employees.
All right. So when we look at any type of business model or corporate structure at the top, you have the founder and they go, oh, my gosh, I don’t have time to do all of these things, but I want to grow. So I’m willing to part with my money and hire somebody to do these tasks that’s going to buy me back more time. Right. And so the wealthy understand money is replenishable. This is also why the wealthy invest. They’re always talking about investing in real estate, investing in the stock market as well, and investing in other companies.
There’s that famous show Shark Tank, who here has seen Shark Tank before. Why are the Sharks the ones parting with their money? Have you ever asked yourself that? Why are they fighting over investing and giving some new entrepreneur with some new idea? Why are they so willing to go? Yeah. I’ll send you a check for $100,000 or a million dollars to get part equity in this company. Why are the Sharks the ones parting with money is because they understand money is replenishable. They’re willing to invest money so that the money starts working for them, and they protect their time because they realize they don’t have time is not guaranteed.
So that guys is how you need to start thinking about time versus money. And you need to ask yourself, if you start hoarding your money, then you will notice your business stops growing or it doesn’t grow at all. What you really need to protect is your time. All right. And so I wanted to share that with you, because as soon as I started thinking like that, it took me a few years to figure that out. But as soon as I became more willing to part with my money and invest in coaches and mentors, right then, that’s when my business really took off really fast.
And then all of a sudden, I’m this 25 year old with a multi, six figure business, and I’m traveling the world and all these other things, and people started asking me, like, how did you do that? And it was simple. I parted with my money because I wanted to go fast. So if you want to go fast, right, value your time over your money, get yourself a coach and listen to what they say and implement and have an absolute blast. So that’s all I got for you guys for today. I have some killer new episodes coming up as well, so stay tuned. Be sure to subscribe, and I hope this was helpful for you. Make today freaking awesome. Guys, we are all so lucky to be alive. I think I heard the stat yesterday that every single day I believe it’s 750,000 people pass away. So if your feet are on the ground, guys, enjoy every moment of it and make the most of it and absolutely go for it because I do not want you to live in regret of wondering what it could have been.
All right, that’s it for this episode. Guys, we will see you in the next one.
Hey, Dino Gomez here and if you enjoyed this episode, be sure to head on over to the secretsofcoaching.com for more resources, downloads, videos and cheat sheets to help you grow your online coaching business. Alright, and if you picked up a cool tip or strategy from this particular episode, we would love a five star review where every single month, we choose one lucky winner to win access to one of our coaching programs.
All right, so that is it for this episode. Guys, we will see you in the next one.
How much Money Can New Coaches Make? $22,500 Case STudy.