6 Figure Home Studio: A Music Business Podcast

#91: Why You're Losing Thousands Of Dollars Every Time You...

Aug. 6, 2019

You’re the most frugal shopper, spending hours clipping coupons, comparing prices down to the penny at the store, and maximizing your savings…

Pat yourself on the back. You probably just cost yourself more than you saved by wasting time on unnecessary things.

If you’d just saved that hour you clip coupons every week, and sent someone else to the grocery store for you, you’ll have another hour of time to work on or in your business.

Unless you’re earning minimum wage with your business, that extra hour of time to work will be the better choice!

You’ve just discovered opportunity cost. Every time you make a choice, you are setting your priorities and you may be inadvertently costing yourself money or time by making the wrong choice even if it seems the right decision in the short term.

In this episode you’ll discover:

  • How not spending money could be costing you money
  • Why you should view subscription software as hiring a cheap employee
  • How spending time on the wrong things means saying no to everything else during that time
  • Why “free” advertising isn’t free – it costs your time
  • What wanting to pat yourself on the back does to you
  • Why education can be bad in terms of opportunity cost
  • Why “networking” is just trying to fix loneliness
  • Why gear has a massive opportunity cost that could put you out of business
  • Why being a “course collector” is not a good thing
  • How accountability can change your life for the better

For full show notes, go to www.thesixfigurehomestudio.com/91

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