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Time Really Is Money: How To Make $5,000 Per Hour Paperback – September 23, 2015
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About the Author
Rob Slee is an author, investment banker, mentor and business owner. Rob has authored more than three hundred articles on private finance topics in a variety of legal and business journals. Rob's book, Private Capital Markets, was published in mid-2004 by John Wiley & Sons and is now considered the seminal work in finance for private companies. A second edition of this book was released in May, 2011. Rob’s second book, Midas Managers (Burn the Boats Press), was released in 2007 and describes how super-successful private business owners create substantial wealth in a global economy. Rob also authored Midas Marketing (Burn the Boats Press), and Middle Market M&A (Wiley). Rob has owned equity positions in a variety of mid-sized private businesses, and he has mentored more than 100 companies. For more than 25 years Rob has also been President of Robertson & Foley, a middle market private investment bank. Rob is also Founder of MidasNation, a LinkedIn community dedicated to helping business owners dramatically increase the value of their firms. He is a Phi Beta Kappa graduate of Miami University, and received a Master's degree from the University of Chicago and an MBA from Case Western Reserve University. Rob can be reached at: email@example.com. But Rob is still best known as the father of Jen and Jessie Slee, his identical twin daughters.
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In the book, Rob breaks down what tasks you should be focusing on and what that rate per hour looks like. He walks you through various "vRungs" and what a business owner should be focusing on at each level. It also explains why some companies never a reasonable amount of return: the owners are too busy spending their tasks on lower "vRungs" which are $50 per hour activities when they should be focused on $5000 per hour and up activities... this is where you create real value.
If you are familiar with his other book "Midas Marketing," you will find some repeated material within this book which works as a great refresher. I feel that Time Really is Money offers a very clear view of where a business owner should be spending his or her time to create massive value.
The author shares his economic outlook at the end of the book, which was interesting but more dilutive than additive, as were the summaries of his previous books. Overall a great read worthy of full marks.
What I Hate About This Book
I hate the fact that Rob is correct in stating:
1) Most privately held businesses are not creating value
2) Most privately held businesses are not generating returns in excess of their cost of capital
3) Almost all business owners over the age of 50 are simply not going to change their behavior in order to create value and save their businesses
4) Main Street businesses create over half the US GDP and almost all of the new jobs, but are unrecognized in the national media, governmental policies, and university academic programs
On the other hand, What I Love About This Book is that Rob tells you: "WHAT TO DO ABOUT IT" and how to take charge of your life and create value that you can turn into realizable wealth.
If you're working on tasks making $5,000 per hour or more, and you are not creating value for yourself and your business, then you must be a master-dissipator, or have very expensive tastes and habits.
Rob Slee created the body of knowledge, Private Capital Markets, and tells you how to benefit from that body of knowledge, through your own efforts in Time Really Is Money: How To Make $5,000 Per Hour. It's a quick and easy read, with direct and simple instructions how to get started. The hard part comes with your own intellectual exercise in determining, then executing, on those value creating activities.