Time is Not Finite! How to Create Time for Life and Your Entrepreneurial Ventures

No great thing is created suddenly, any more than a bunch of grapes or a fig. If you tell me that you desire a fig, I answer you that there must be time. Let it first blossom, then bear fruit, then ripen.

Epictetus – Discourses Chap. xv

Cut the Cable!
Cut the Cable!

I used to think that time is finite, but have since learned that’s not true. We can create time.  If you are an entrepreneur, or would like to be an entrepreneur and have a dream you are pursuing, you must create time to devote to it, just as the philosopher Epictetus said that we need to allow time for that fig to grow.

Let me share three ways you can create time:

 

Cut the cable

As we wrote about earlier regarding Stoicism and having correct perceptions, we can change our perception of time to trick our brains into thinking there is more of it by reducing stimuli, in particular, eliminating TV.  Did you know the average American watches 5 hours of TV per day according to the New York Daily News!  By eliminating TV you are creating 5 hours per day, 35 hours per week, or almost 2,000 hours per year!  That’s the equivalent of a full time job (in France).  Not only that, while you are watching TV, the minutes seem to be racing by, but when you eliminate TV time slows down, or at least appears to slow down.  You’ve tricked your brain into thinking you have more time.  So how specifically can you go about it?

My pal Rich Davis turned me onto a blog by a guy called Mr Money Mustache (view his blog here) whose primary focus is sharing lessons learned for achieving financial independence.  MMM, as he’s called, advocates cutting your cable for primarily financial reasons, but my opinion is that the primary reason is to create time, with the ancillary benefit of reaping huge financial savings over time.  I decided to pursue MMM’s advice because we weren’t watching cable much and were paying $180 per month to Verizon.  No matter how much I negotiated with Verizon and cut services the price always moved back up to what I was paying before.  So Mrs Woodworker and I decided to cut both cable and the phone landline to see what would happen.  We had stopped answering the landline because almost all the calls we were receiving were telemarketers, so why pay Verizon for a service we weren’t using?  Anyway, our Verizon bills with the bundles (Internet, phone, and cable) were $180 before we cut the cord.  Now we are paying $85 per month, which is a net savings of about $100 per month, almost $1200 per year, or $12,000 (!) over 10 years.  There is one major drawback which we haven’t fully mitigated, however.

How do we watch our favorite professional and college sports?  I think we’ve cracked the code on pro sports, but college sports are a work on progress.  I was finding that the ending of NFL games were so late here on the East Coast, that I needed a workaround.  A couple years ago I started subscribing to NFL GamePass ($99.99 per year) which allows you to watch all NFL games via replay.  I get up for work at 0430 (remember Traughber Design is a part-time business for now) and if an NFL game doesn’t get over until 0100, that’s only 3 1/2 hours of sleep.  That’s not a sustainable model.  With NFL GamePass I can just watch the game the following night and get 8 hours of sleep (or close to it).

College games are a bit trickier, but I’m finding more games are starting to be streamed on the Internet live and that ESPN is starting to show many games via replay on their website.  A fallback option is to Google the closest watering hole that is showing your favorite college team’s games.  I always feel obligated to keep ordering things while I’m there, since I’m receiving the benefit of watching the game in their establishment, so this can be an expensive option.  Another option is to “invite yourself” to your friends’ (thank you, Kevin Hanson) houses ; )

Truth in advertising here…does that mean we watch absolutely no TV?  Of course not.  We’re not Luddites.  We’ve got Netflix for $9.99 per month and now we purchase about two TV series per year on iTunes (of course, we have to keep up with The Walking Dead).  Each series runs about $30 for a season, which means we are netting over $1000 per year, or over $10,000 over 10 years versus cable.  That’s a whole lot of power tools!

So…you can create time by cutting cable.  How else can you create time?

Do a cost/benefit analysis of Amazon Prime Versus Running Errands

We signed up for Amazon Prime about a year ago as an experiment.  I looked at our orders over the preceding year and we didn’t have enough orders to justify the $99 annual fee, but I wanted to experiment with it (See our post about failing fast and cheap.  This was an inexpensive experiment) to see what all the hubbub was about.  There’s no surprise given the clever mind of Jeff Bezos that we are purchasing more from Amazon than we had before, because it’s so convenient.  That’s not necessarily a bad thing, if we were going to purchase those things anyway.  Where Prime really comes in handy is in creating time by having packages shipped to your house if they are the same price in the local store.  You’ve just created the amount of time required to do that round trip to the local store by ordering via Prime, not to mention the time to stand in line.  To give you an example, recently Mrs Woodworker’s headlight went out.  I was going to run to Advance Auto Parts and buy another bulb.  Then I got to thinking “I wonder what the price is on Amazon?”  Sure enough, the price was about the same.  Now if Mrs Woodworker was going to be doing night driving, I would have gone straight away to buy the bulb to keep her safe.  She was only going to be driving during the day for the next 2 days, so I ordered on Amazon and the bulb showed up 2 days later.  I had just created 40 minutes of time (20 minutes each way, plus any additional time standing in line).

Jeff Bezos just helped you create some time, how else can you do it?

Stop Doing Something

It’s important we evaluate our to-do lists from time to time to make sure we’re not doing things we don’t need to be doing.  I tried to zero in on things that were repetitive which would mean large time savings over the long haul.  One of those things was paying bills.  We’ve been paying bills online via our bank for a long time, but were too lazy to fully automate the process.  Before you pay one more bill, go to the company’s website and sign up for autopay.  You will never have to write another check or facilitate another payment again.  I figure I was spending at least 15 minutes every Saturday paying bills.  I just created 12 hours per year.  Now we just get an E-mail every month stating when our card was charged and by how much.  In addition, I’m using that wonderful Naval Federal Credit Union (NFCU) Visa card that pays 1.5% cash back (thanks Gareth Embrey for the recommendation).

Another great way to eliminate errands is to leverage Craigslist and Freecycle.  People will actually come to your house and pay you for your stuff if you use Craigslist!  Think about how many trips to the dump or donation center that will eliminate.  If I post something on Craigslist and it doesn’t sell, then I usually post it on Freecycle.  For example, as I mentioned in the post about moving the wood shop, we are getting ready to move.  Our realtor recommended replacing two old ceiling fans and an old light fixture with three ceiling fans, which I just finished installing.  I posted the old fans on Craigslist, but they didn’t sell so I posted them on Freecycle.  A very nice lady came and took them away.  Bam!  I just saved the time it would have taken to get rid of them, and she got three fixtures for free.

What else is there on your to-do list that you can eliminate or automate?

Well, that’s enough temporal philosophy so I’d better call it a day and head down to the wood shop.

Thinking about cutting the cord?  Go for it!

For other Tactics, Techniques, and Procedures on managing time, check out our post here.