In order to do anything in your life, whether it’s just surviving or accomplishing something of great value, you have only three resources available to you on a personal level. Outside of these three resources, you have literally nothing in terms of your own, personal, physical capability to accomplish tasks. Other people can help you, and relationships with others in your personal, family, and work life are also assets that can be leveraged. However, in terms of you, you only have these three resources:
That’s it! Those are the only three things you have. Everything you do will consume one or more of these resources in any given day, week, month, or year. This is why these three resources must be carefully cultivated, protected, and managed.
Money is the most obvious one and the one most people think and worry about. Clearly, the more money you have to accomplish things in your business, financial, and personal life, the better.
The great thing about money is that money can be created literally out of thin air by the other two resources, energy and time. I started out alone, at age 18, with no money, no education, no people skills, and no business skills, from a financially strapped, lower middle class family. Using energy and time, by age 27 I was making a six-figure income.
As I talk about in my monthly coaching program, money, for all practical purposes in your life, is an infinite, renewable resource. If you want more money, you can always get more by spending some time and energy. If you lose your money, you can always get more. It’s great.
Energy is the second of your three resources, and it’s one most people don’t give much thought to. A man who is physically fit, who gets plenty of sleep, who is motivated by exciting goals, and who has good testosterone levels will have far more energy to utilize on a daily basis than a guy who is out of shape, stressed out, only sleeps 4-5 hours a night, has no exciting goals or Mission, and who has low testosterone.
Because the first guy has more energy, he can get far more done than the second guy in the same amount of time, thereby earning more money faster, accomplishing his goals faster, and living an overall better life.
Somewhat like money, energy is something you can create more of by shifting various aspects of your lifestyle. I have an entire chapter on this in my book. Energy is created by the following things:
- Exciting goals (and ideally a Mission)
- Good diet
- Regular exercise
- Plenty of sleep
- Plenty of water intake
- Regular sex
- Good levels of testosterone and related hormones (estrogen, vitamin D, thyroid, etc)
- Avoiding drugs, alcohol, and cigarettes
Time is the most precious of your three resources, by far. Unlike money and energy, time is not renewable, and you can never get any more. Both Bill Gates and the homeless guy sitting on the sidewalk have equal amounts of time, and always will. Once today is gone, it’s gone forever. You’re never getting it back no matter how amazing, smart, hard-working, or wealthy you are.
Thus, unlike energy or money, time can’t be created and lost time can never be recovered. Instead, time can only be managed. This is what time management is all about, and why I’m such a huge time management nerd.
If you want to be very happy and accomplish a lot in your life, you must be absolutely ruthless about how you spend your time. You literally can’t afford to waste any of it. Your entire day, week, month, and to a degree, your year should be carefully planned in advance. You should take careful stock of how you use your time and be constantly looking for ways to improve your time usage.
Time, energy, and money. That’s all you’ve got. Use them all wisely.