By Dancho Dimkov
The podcast currently has 263 episodes available.
In this episode, I explore the idea of time and how the compounding effect applies not just to money, but to building assets. As a consultant, Iām often paid by the hour, but I realized that investing those hours into creating lasting assetsālike courses, books, or public speaking servicesācan provide returns indefinitely. I share how I recently built a new public speaking service that only took 10 hours of work but will continue to generate income for years.
The key takeaway is that while billable hours offer immediate returns, investing time into long-term assets can lead to greater, lasting financial success. I also talk about how my investments in stocks, real estate, and my education (specifically my Doctor of Business Administration degree) will continue to grow in value over time. Iām playing the long game, and time is on my side, helping me build a sustainable future.
Transcript:
Hello, everybody, and welcome to another episode of Sweet Buzz! How's it going, guys? It's getting colder here in Macedonia, and with the cold weather, people seem to be staying in more. Anyhow, I had a great conversation with a friend yesterday, and I thought, "This needs to be a podcast episode!" We talked about time and the compounding effect.
Youāve probably heard about the compounding effect when it comes to moneyāhow it grows over time, especially when you reinvest. Einstein even said compounding interest is the seventh wonder of the world. But we discussed something elseāhow building assets over time can be just as powerful as the compounding effect with money.
As a consultant, Iām paid by the hour. Sure, itās good money, but if I take those same hours and invest them in building somethingālike a webinar, an online course, or even a bookāthatās something I can sell infinitely. The last time I did that, I built up my public speaking services, which took about 10 hours. Iāve spoken at over 25 international events, and after some research and putting everything together, I created a new service. Now, anyone can visit my website, and under the āSpeakingā section, theyāll see all my past events and topics. I turned 10 hours of work into a service I can offer indefinitely.
So, hereās the dilemma: Do you invest time in billable hours, where you get paid right away, or in something that can generate long-term income? In my current life, time is on my side because Iāve built so many assets and invested in long-term business activities. Even if I donāt do anything new, those investments will continue to grow over time. My investments in stocks, real estate, and crypto are all going to be worth more in the future. BizzBee Solutions will be more valuable because itās a company with nearly a decade of experience.
And letās not forget, Iām working on my Doctor of Business Administration degree, which will boost my consultancy and public speaking gigs even more. Iāve been thinking about the long-term benefitsāhow in a few years, Iāll be in an entirely different place, charging more for my services and scaling even further. Iām constantly compounding on multiple frontsābusiness, financial investments, and personal development.
The lesson here is that building assets over time puts you in control of your future. Whether it's books, real estate, or public speaking opportunities, the more I invest in these things now, the more Iāll benefit in the future. Iām playing the long game, and time is definitely on my side.
Hello, everybody, and welcome to another episode of Sweet Buzz! How's it going, guys? It's been, what, four months since I last podcasted.
Wow, time flies. There's a short explanation as to why I was gone, and simply put, I needed a break. I needed a break from the company, from social media, from everythingāand man, a lot has happened in these past few months.
Iām using this podcast to catch up with you and share whatās been happening in my life. Iāll keep it short because this is me pushing myself to get back into podcasting. Before, I used to carefully prepare the content, but now Iāve decided to just hit record and start. I need to get back into shape because podcasting helped me collect my thoughts, strategize for my book, and work on various projects.
My last big project was the Financial Freedom book, and after that, I decided to take a break. During my time off, I did plenty of things I didnāt report. On a personal note, I did some traveling with the family. Oh, and big newsāI had a baby! Three weeks ago, we welcomed our third child, a girl.
So now, I have two boys and a girl. Sheās three weeks old, and honestly, I havenāt slept much, but the excitement is real. Having kids is something that everyone should experience at least once. It has been taking up a lot of my time, but I wouldnāt trade it for anything.
Thatās the big update on the personal front. On the professional side, Iāve also started a PhD, or technically, a Doctor of Business Administration. Itās a three-year journey, and so far, Iāve completed three out of seven subjects. Iām on track to finish the rest by the end of this year. After that, Iāll focus on writing my dissertation.
My dissertation is going to focus on digital transformation, my area of expertise. Iām spending the next few years figuring out how to adapt the large-scale digital transformation frameworks used by big consulting firms so they can be useful for small and medium-sized businesses. Iām diving deep into AI and automation as well because, a decade ago, these tools were only accessible to large corporations. Now, with tools like ChatGPT, even small businesses can start using AI.
Iām planning to create my own framework around this, and my dissertation will form the foundation for a new digital transformation service offering. So, stay tunedāthereās another service in the works!
As for BizzBee, things are stable. We have ups and downsāsome months are incredibly busy, while others are quieterābut overall, weāre doing well. The consultancy is also on the right track. However, I feel the urge to start a few more companies, and maybe thatās why I finally have something interesting to share on the podcast.
It felt boring to just say, āHey guys, my wife is pregnant, and Iām working on my dissertation.ā But now I have insights to share, things you can learn from and use to scale your business. If Iām not scaling my company, whatās the point of podcasting, right? So, with this episode, Iām announcing my comeback! Expect many more podcasts, each one focused on a specific tool, technique, or angle that Iām figuring out, or a new business venture that Iām exploring.
Thatās all I had for today. Itās September, and we have a few good months left in the year. Iāve already made my plan for what I want to achieve between now and December, and reviving the podcast was part of that plan.
Maybe in the next episode, Iāll talk about my three-month strategy so you can see that none of this is by chanceāI plan everything in three-month chunks. Thatās all for today. Have a great day!
Cheers!
I just had my major public event. Curious to see how it went and what I've learned?
Can't get enough?
Subscribe to "Sweet Buzz - Scaling a Digital B2B Business" to get a notification as I publish new episodes: ā ā ā https://podcast.bizzbeesolutions.com/ā ā ā
Ā
Do you want to get up close and personal with me?
This is the place to be: ā ā ā https://danchodimkov.com/ā ā ā
Ā
Read all about the proven 6-step ZZ framework that will assure you get a steady flow of qualified leads in my Amazon best-selling book "Sweet Leads":Ā ā ā https://danchodimkov.com/book/ā ā ā
Ā
Ready to boost your B2B growth and uncover the secrets of effective leadership?
Buy "8 Qualities For Great Leadership ā Critical Elements For Current and Future Success" here: ā ā ā ā https://danchodimkov.com/8-qualities-for-great-leadership/ā ā ā
Ā
A combination of courses, online community, and coaching sessions, that provide you with tools, and know-how on planning, executing, and optimizing your outreach campaigns?
Don't overthink and click the link: ā ā ā http://hive.bizzbeesolutions.com/ā ā ā
Ā
Discover the mouthwatering secrets of successful prospecting & outreach on "Sweet Leads - The BizzBee Podcast" and learn how it can work wonders for you:Ā ā ā https://sweetleads.bizzbeesolutions.com/ā ā ā
Ā
Keep up with me on:
LinkedIn: ā ā ā https://www.linkedin.com/in/dancodimkov/ā ā ā
LinkedIn page: ā ā ā https://www.linkedin.com/company/danchodimkov/ā ā ā
Facebook: ā ā https://www.facebook.com/dancho.dimkov.98ā ā
Linktree:Ā ā https://linktr.ee/danchodimkovā ā ā ā
Ā
Connect with BizzBee, and enjoy some sweet content:
LinkedIn: ā ā ā https://www.linkedin.com/company/bizzbee-solutions/mycompany/ā ā ā
Facebook: ā ā ā https://www.facebook.com/BizzBeeSolutionsā ā ā
ā ā ā Website: ā ā ā https://www.bizzbeesolutions.com/ā
Linktree:Ā ā https://linktr.ee/bizzbeesolutions
Are you ready to embark on a life-changing adventure? Proud to present your new "partner in crime", my latest work of art - "A Journey to Financial Freedom", a book that will CHANGE YOUR LIFE, ācause it changed mine! Uncover the secrets to building wealth, mastering investments, and achieving the freedom you deserve. Stay tuned for the official launch date! Are you ready to take the first step?
Can't get enough?
Subscribe to "Sweet Buzz - Scaling a Digital B2B Business" to get a notification as I publish new episodes: ā ā https://podcast.bizzbeesolutions.com/ā ā
Ā
Do you want to get up close and personal with me?
This is the place to be: ā ā https://danchodimkov.com/ā ā
Ā
Read all about the proven 6-step ZZ framework that will assure you get a steady flow of qualified leads in my Amazon best-selling book "Sweet Leads":Ā ā https://danchodimkov.com/book/ā ā
Ā
Ready to boost your B2B growth and uncover the secrets of effective leadership?
Buy "8 Qualities For Great Leadership ā Critical Elements For Current and Future Success" here: ā ā ā https://danchodimkov.com/8-qualities-for-great-leadership/ā ā
Ā
A combination of courses, online community, and coaching sessions, that provide you with tools, and know-how on planning, executing, and optimizing your outreach campaigns?
Don't overthink and click the link: ā ā http://hive.bizzbeesolutions.com/ā ā
Ā
Discover the mouthwatering secrets of successful prospecting & outreach on "Sweet Leads - The BizzBee Podcast" and learn how it can work wonders for you:Ā ā https://sweetleads.bizzbeesolutions.com/ā ā
Ā
Keep up with me on:
LinkedIn: ā ā https://www.linkedin.com/in/dancodimkov/ā ā
LinkedIn page: ā ā https://www.linkedin.com/company/danchodimkov/ā ā
Facebook: ā https://www.facebook.com/dancho.dimkov.98ā
Linktree:Ā https://linktr.ee/danchodimkovā
Ā
Connect with BizzBee, and enjoy some sweet content:
LinkedIn: ā ā https://www.linkedin.com/company/bizzbee-solutions/mycompany/ā ā
Facebook: ā ā https://www.facebook.com/BizzBeeSolutionsā ā
ā Website: ā ā https://www.bizzbeesolutions.com/
Linktree:Ā https://linktr.ee/bizzbeesolutions
Today, I want to share why investing in stocks can beat spending on consumer products. I stumbled upon a video comparing Apple stock vs. buying iPhones over the years - mind-blowing difference!
I emphasize putting money into brands you love. Allocating a bit each month to stocks can lead to significant returns. I share my experience with Upwork, a platform I use and invest in. Remember, research is key. Find strong brands with growth potential before diving into stocks. "Find products you love, buy the stocks, not just the product."
Can't get enough?
Subscribe to "Sweet Buzz - Scaling a Digital B2B Business" to get a notification as I publish new episodes: ā ā https://podcast.bizzbeesolutions.com/ā ā
Ā
Do you want to get up close and personal with me?
This is the place to be: ā ā https://danchodimkov.com/ā ā
Ā
Read all about the proven 6-step ZZ framework that will assure you get a steady flow of qualified leads in my Amazon best-selling book "Sweet Leads":Ā ā https://danchodimkov.com/book/ā ā
Ā
Ready to boost your B2B growth and uncover the secrets of effective leadership?
Buy "8 Qualities For Great Leadership ā Critical Elements For Current and Future Success" here: ā ā ā https://danchodimkov.com/8-qualities-for-great-leadership/ā ā
Ā
A combination of courses, online community, and coaching sessions, that provide you with tools, and know-how on planning, executing, and optimizing your outreach campaigns?
Don't overthink and click the link: ā ā http://hive.bizzbeesolutions.com/ā ā
Ā
Discover the mouthwatering secrets of successful prospecting & outreach on "Sweet Leads - The BizzBee Podcast" and learn how it can work wonders for you:Ā ā https://sweetleads.bizzbeesolutions.com/ā ā
Ā
Keep up with me on:
LinkedIn: ā ā https://www.linkedin.com/in/dancodimkov/ā ā
LinkedIn page: ā ā https://www.linkedin.com/company/danchodimkov/ā ā
Facebook: ā https://www.facebook.com/dancho.dimkov.98ā
Linktree:Ā https://linktr.ee/danchodimkovā
Ā
Connect with BizzBee, and enjoy some sweet content:
LinkedIn: ā ā https://www.linkedin.com/company/bizzbee-solutions/mycompany/ā ā
Facebook: ā ā https://www.facebook.com/BizzBeeSolutionsā ā
ā Website: ā ā https://www.bizzbeesolutions.com/
Linktree:Ā https://linktr.ee/bizzbeesolutions
The podcast currently has 263 episodes available.