Who should have more of your time: your boss, friends, family, or the ones who pay you the most money?
You probably answered “your family” because you love them. But what if I told you that the ones who should have the highest priority on your time should be your family and the ones who pay you the most money?
That means those who pay you the most get first choice on your time. Why? Because if you want to structure your day like the rich, then the Money Circle Theory helps you determine what and who you should spend your time on.
Watch this video about structuring your day like the rich.
VIP Is Wealth And Happiness
Here’s how the circle works. The Money Circle Theory starts with you and your family in the middle, the people who have the highest priority. Then in the next ring, the VIP, you have the people most important to you, including your top clients.
These clients pay you the most money, so as members of your inner circle, they get priority when they contact you.
Your wealth and income, about 80 percent, is from this group. These people are your VIP. Your family is here because they are your happiness. You give your top clients your best attention because they provide your wealth.
The next level out are your family, friends, and outer circle members, including business partners.
Time With Your Tribe
One more circle out, the third level, are your tribe. They belong to your private social media group because they attended your workshops. They heart your social media posts, quote you when they comment about you, and defend you against someone outside your tribe.
If these people contact you, you will respond to them but not as quickly as your inner circle. You wouldn’t interrupt your lunch or afternoon off, but you’ll answer them eventually.
But for those in the outermost circle, the ones you connected with on social media, you don’t spend much time on them. They can’t name your hero or favorite book even though you’ve mentioned those details many times in your presentations.
For these people in your outermost circle, the fifth ring, you give them the least amount of attention. This includes people who don’t know you at all, who want something from you.
For example, you get an email from someone in Nigeria who has thirty million dollars and if you provide the numbers of your bank account, they will pay you a 10 percent fee. Those you can eliminate from your life.
Create Your Planet, Avoid Vampires
Once you’ve established your Money Circle, then when anyone contacts you for a meeting, for dinner plans or a phone call – ask yourself where they fall in the circle. Depending on where they fall, you may get back to them in a day. Or within hours.
Now someone once commented that this Money Circle makes me look like I’m the center of the universe. However, that’s not true. The universe is vast, but I am the focus of Planet Dan. My planet, my rules.
And with the Money Circle, the amount of attention that you get from me is in direct proportion to how much you pay me.
As an entrepreneur if you adopt this philosophy, you’ll be more effective with structuring your day. One day, when you reach a level of success when you can give back to people because you don’t need the money, then you may structure your time differently.
You can help others because you want to help. But get there first, and then you can give others the time. But right now, master your time properly. Avoid wasting time with people you hardly do business with, just because you want to be nice.
Let them be time vampires that drain the minutes out of someone else. Consider giving these people your competitor’s business card.
Final Thoughts: The Money Circle Theory
If you want to structure your day like the rich, then prioritize everyone in your life with the money circle theory. The amount of attention that people get from you is in direct proportion to how much they pay you.
People who are your Priority and VIP will get a faster response than those who are your tribe. This system may ruffle some feathers because you won’t have time for people you don’t know, or to help people who don’t pay you.
But when you’re climbing up the wealth ladder, and you haven’t reached that level of success that you’re aiming for, you need to prioritize.