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The Mind Your Business Podcast

All entrepreneurs want to know the secret to success. James Wedmore, a seven-figure online entrepreneur, believes success is created by mindset over strategy, magic over metrics, and attitude over action. In this podcast, James and co-host Phoebe Mroczek untangle the common misconception that hustle and hard work are all it takes to be successful.
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Jun 6, 2016

In the first episode of a brand new series called “The Time Chronicles”, James and Phoebe take a look at time at your relationship with time to show you how to be more productive and effective at work.

James shares that our relationship with time is the biggest thing that’s affecting us as business owners and entrepreneurs.

On Amazon.com, there is even a “time management” category with 4,068 titles dedicated to this subject.

A recent study shows that the average person gets an interruption every 8 minutes, or about 50 to 60 in one day. The average interruption can take up to 5 minutes, which totals four hours, or 50% of the average workday. Most of these interruptions are typically labelled as “little to no value.”

“Until we address the actual problem, we’re just left with a lot of really cool tips and tricks, but never get to the source of it”

James says that it’s possible for us to change our relationship with time, and he believes that we’re all meant to live a happy and extraordinary life.

“You are worth of that, you are deserving of that, and you can have that”

It’s not time, or lack of it, that’s keeping us from getting the things that you want. It’s your relationship, or story with time, that’s doing this.

“Whatever is going on outside could be an indicator for whatever is going on inside”

The stories we have around time show a lack of power, personal responsibility and ownership.

“I believe what this comes down to is a lack of self-worth and value”

It’s important to note that when time and energy is used up, you don’t get it back. Money can be spent, but made back again. However, most people link time to money.

Phoebe adds that many entrepreneurs starting out in business think that the only two things they have control over are their time and money.

James thinks this is ingrained in our thinking at a very early age. There’s a pull for entrepreneurs to add more time, to justify the money they receive.

Usually when you feel frustrated, overwhelmed, rushed or anxious, your relationship with time isn’t serving you you’re thinking with a scarcity mindset, or not having enough time. This is because we tend to experience time as absolute and linear.

However, time is relative and James feels that there is a way to experience time differently.

“Is time this thing you have no control over, or is it just a big excuse that keeps you from actually reaching your goals?”

If you feel a sense of guilt when receiving money, one of two things is happening: you’re feeling that you’re not worth the money, or you’re perceiving a lack of abundance on the part of the other person that’s giving you the money.

Many people feel like the have to take on more clients, work harder, or put in more time in order to make more money. The key is to separate time and money.

“If we can start to separate these, then we may be able to take back and have a little more power with our relationship with time”

If you’re burnt out and exhausted, it’s more difficult to provide value to others.

If you want to make more money, you need to either solve bigger problems or reach more people, or both. The answer doesn’t involve spending more time. James notes that with the Internet, you can do both of these things with time being irrelevant.

Craig Ballantyne’s 5% rule says, “5% of your activities are the ones that yield 95% of your revenue and results”, and James reminds others:

“Your passion is fuelled with profit”

In the next instalments of “The Time Chronicles”, we explore:

  • A concept from Gay Hendricks’ “The Big Leap” called “Einstein Time” (this will show you how to create a new relationship with time so you can literally stop it)
  • The limiting beliefs that are affecting your time and how to create more empowering ones
  • 11 specific things you can do to start getting your time back
  • The concept of “leverage”, and how it can be put to work for you


Submit Your Question!

INTERVIEW LINKS:

Craig Ballantyne’s Website

“The Big Leap” by Gay Hendricks

“Essentialism” by Greg McKeown

“The One Thing” by Gary Keller and Jay Papasan

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