Podcast Episode 91: Why You’re Losing Thousands Of Dollars Every Time You…

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

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Quotes 

“When you’ve got people that are invested and seeing you improve and not . . . everyone’s out for themselves. That’s where you find real accountability.” – Chris Graham

“I hate seeing people that join a course and six months later I check their account and they have consumed 0% of that course.” – Brian Hood

Episode Links


Websites

456 Recordings – www.456recordings.com

Chris Graham – www.chrisgrahammastering.com

Bounce Butler – http://bouncebutler.com

Filepass – http://filepass.com

Matt Beaudreau/Working Class Audio – https://www.workingclassaudio.com/

The Graham Cochrane Show – https://directory.libsyn.com/shows/view/id/grahamcochrane

 

Courses

The Profitable Producer Course – theprofitableproducer.com

The Home Studio Startup Course – www.thesixfigurehomestudio.com/10k

 

Facebook Community

6FHS Facebook Community – http://thesixfigurehomestudio.com/community

 

Instagram

@chris_graham – https://www.instagram.com/chris_graham/

@brianh00d – https://www.instagram.com/brianh00d/

 

YouTube Channels 

The Six Figure Home Studio – https://www.youtube.com/thesixfigurehomestudio

 

Send Us Your Feedback!

The Six Figure Home Studio Podcast – podcast@thesixfigurehomestudio.com

 

Related Podcast Episodes

Episode 7: CRM: Billion-Dollar Companies Use This Software, And So Should You – https://www.thesixfigurehomestudio.com/crm-for-home-studio-business/

Episode 27: Saving Over $3,000 Per Month By “Downsizing To Profitability”: Matt Boudreau’s Story – https://www.thesixfigurehomestudio.com/saving-over-3000-per-month-by-downsizing-to-profitability-matt-boudreaus-story/

Episode 68: Using Instagram Marketing To Build Recurring Income As A Music Producer – With Mark Eckert – https://www.thesixfigurehomestudio.com/using-instagram-marketing-to-build-recurring-income-as-a-music-producer-with-mark-eckert/

Episode 88:  An Easy Way To Turn $30/Mo Into Thousands Of Dollars – https://www.thesixfigurehomestudio.com/an-easy-way-to-turn-30-mo-into-thousands-of-dollars/

 

Tools

Zapier – https://zapier.com/

ICE (Impact, Confidence, Ease) – https://tech.trello.com/ice-scoring/

Eisenhower Matrix – https://www.eisenhower.me/eisenhower-matrix/

Slack – https://slack.com/

 

Stores and Organizations

NAMM – https://www.namm.org/

Sweetwater – https://www.sweetwater.com/

 

Books

The Paradox of Choice by Barry Schwartz – https://www.amazon.com/Paradox-Choice-More-Less-Revised/dp/0062449923/

The 4-Hour Workweek by Tim Ferriss – https://www.amazon.com/4-Hour-Workweek-Escape-Live-Anywhere/dp/0307465357

 

Automatic Episode Transcript — Please excuse any errors, not reviewed for accuracy

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