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Are You Trading Your Time For Money?
Story about Jack and Bill. Learn how this story can apply to the real world and who gets to achieve financial freedom faster?
Once upon a time there was a little village. It was a great place to live except for one problem - there was no water supply unless it rained! To solve this problem once and for all, the village chief decided to offer two contracts to have water delivered to the village on a daily basis. He felt that a little competition would keep prices low and that was good for the villagers. Two people volunteered to take on the task and the chief awarded the contract to both of them. One of them. Jack, immediately ran out, bought two big steel buckets and began running back and forth the lake which was 10 km away from the village. He immediately began making money. He worked from early morning to late evening carrying water from the lake with his two buckets. Each morning he had to get up before the villagers awoke to make sure there was enough water for the village for that day. It was hard work, but he was very happy to be making money and be able to buy the luxuries for his family. The other contractor, Bill, disappeared for a while. Instead of buying more buckets to compete with Jack, Bill had gone to seek the best construction crews in the city and returned four months later with a team of the talented crews. Within a few months his team had built a large volume stainless steel pipeline which connected the village to the lake. At the completion of the pipeline construction. Bill announced that his water was cleaner than Jack's water, as he knew that there had been complaints about dirt in Jack's water. Bill also assured the villagers that he could supply the water 24 hours a day, 7 days a week. Jack could only deliver water on the weekdays as he did not work on weekends. Then Bill announced that he could charge 50% less than Jack did for this higher quality and more reliable source of water. The villagers cheered and immediately ran for the faucet at the end of Bill's pipeline. Eventually Jack hired a few employees. Like a lot of employees, they only worked as much as Jack told them to. Jack needed to pay them extra overtime wages in order to get them to work more. Even when the business was slow and was making loss, he still needed to pay the employees wages. Sometimes he himself needed to work the extra overtime because he couldn't afford to pay them the overtime wages. Soon, he was working day and night for his business and had no time to spend with his family. Bill, on the other hand, had no employees to pay. He could spend all his time doing the things he loved and enjoyed to do without going to work from 9 to 5 daily, and yet had a secured source of income. He could spend more time with his family and was able to show love and care and to educate his young children. Soon, the larger villages nearby heard of the water supply in this little village. Their chiefs also offered contracts to deliver water to the villages on a daily basis. Bill confidently volunteered to take on the task. Jack saw this as an opportunity to expand his business. He also volunteered himself. Bill immediately began the constructions. He only needed to invest some time and money at the beginning to construct the pipelines to the villages and he would secure a long-term water supply upon the completion of the pipelines. Jack employed more employees to carry the water from the nearest lake to the villages. He earned more by delivering water to more villages. However, he also had higher commitments as he had to pay even more wages to more employees. As Bill's pipeline construction was completed, he again offered his high speed, high volume, low cost, and clean water delivery system to those larger villages. Again, the villagers cheered and immediately ran to Bill's pipelines. As Jack's business was bad, he soon sold off some of his personal assets to finance his business and to pay his employees. He also borrowed more money at fixed interest rates, sacked a few of his employees to cut cost and worked even longer hours himself to ensure sufficient supply of water to the villages. Soon, Bill's pipeline delivery services expanded to all the villages around the world. Although he only makes a few cents per bucket of water delivered, his pipelines deliver billions of buckets of water everyday, around the world. Regardless of whether he works or not, billions of people consume billions of buckets of water, and all that money pours into his bank account. Bill had developed a pipeline to deliver money to himself as well as water to the villages. Bill lived happily ever after with all the time freedom and financial freedom to enjoy his life and to provide the best things for his loved ones, while Jack worked hard for the rest of his life, not having time for other important things in life, had financial problems, unhappiness and family arguments forever after. Are you trading time for more money? Or are you willing to look at the longer-term and start building a pipeline today to provide yourself with constant flow of steady income...that will last long after you've stopped working on building the pipeline? The cheapest and most effective way to build a pipeline is by doing home based business.