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March 15, 2023: The Value of Time: Understanding the Business Model of Banks and Companies

March 16, 202311 min read

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This blog explores the concept of time as it relates to the business model of banks and companies. The author reflects on the recent banking collapses and how they illustrate the failure to account for the value of time in the economy. They argue that businesses exist only because of people, and therefore it is crucial to examine the value proposition that banks and companies offer their clients and customers. The author also emphasizes the importance of having a long-term strategy and plan for businesses to survive and thrive, and highlights the potential impact of aging demographics on the business landscape. Overall, this blog aims to provoke readers to think critically about the role of time in business and the decisions we make as consumers.


Daily Journal Transcript

Good evening. Good evening. Good evening.

I hope you guys have had a great day. My day has been fantastic and I've been doing a lot of I've been paying attention to the banking collapses that are happening right now in our society and I as I'm paying attention to them and watching them, it is really interesting to think about how the value of time is playing into what's happening. These banks are collapsing for one reason.

The reason is because everyone who uses the bank wants their money at the same time. So the value of time the company has not built in the value of time and leaving your money with them over the long haul. And so this is one of the reasons I don't think the true value of time, not in terms of hours or days, but in years has been built into our economy.

If you think about it, the banks, companies in general come and go over and over and over. They don't matter. What matters are we the people, the people behind the company.

Because no company exists without people. You need clients and you need customers. Both clients and customers are required for a business to exist.

If you do not have one or the other clients or employees, your company will not exist. So as you're going through and paying attention to everything happening in the banking sector right now, I want you to be looking at how is the bank operating as a business and what is the bank's offer? So if you think about it, the offer a bank has is hey, I'm going to hold on to your money for when you want it and when you want it is up to you. So how's that offer helping you? Because there's so many things you can do with your money.

It's obvious that putting it in the bank especially when there's no returns on the money you store in a bank the bank immediately goes and loans out that money or goes and buys treasury stock or treasury bills, t bills that the interest rates increase, the value of those treasury bills decreases and the bank gets that, not you. They just guarantee that that money would be there if you need it. So I want you to think about what is the business model behind the bank and what value do you get out of the bank for banking with them? How many banks are there out there? Hundreds? Thousands? And then there's credit unions on top of banks.

There are so many options, so many options for where you can put your money. Look at what is your bank providing for you or to you when it comes to these options, when it comes to what's going on. Because banks have a choice.

They get to pick who they loan money to and who they don't loan money to. Silicon Valley Bank focused on loaning money to startups, to small businesses. That's their ideal target market.

So that's one of the reasons why at this bank, only 2% or two and a half percent of deposits were insured. It's because the bank is designed for businesses, and so it's designed for businesses. But when they get money, they don't invest that money back into other businesses.

They put it in treasury bills. The problem with that is the return on treasury bills is so low. Yes, it is secure, but no one puts their money in the bank.

For them to lose it and lose it through not paying attention to what inflation is doing, lose it to the true value of time. You got to look at a company as an asset that's designed to either live or die. So pay attention.

Every business you use right now, stop and look at what is it doing? Is it growing or is it dying? With the baby boomers all aging out, retiring, you are going to see an insane amount of businesses die. Just collapse. They don't know how to sell.

They can't find a buyer. If they did want to sell, they can't figure out how to fund it. There are so many things that are going to lead to these businesses just shutting their doors.

And one of the big things is there's no strategy or long term plan. So whenever I buy from a company I look at, where are they at? I use Go high level for my CRM. Amazing tool.

I would highly, highly recommend it. I'll put a link well, there's a link on my website. If you go to,

you can check it out. Go. High level is a new company.

It is three, four, maybe five years old, and it's competing with HubSpot, it's competing with salesforce and some of these huge organizations. What I like about it is when you're four years old, you're scrappy and you're looking to grow. You're looking to grow.

Whereas a lot of these huge organizations may not be. Every organization wants to grow, but depending on the lifecycle of the business, it may be impossible for that company to grow without adjusting. You can see it happening right now with search.

If you look at Microsoft, Just, with their investments into Chat GPT, they're trying to take over search. And look at what Google is doing. They're all hands on deck, trying to save search, save the market share.

All of these are happening simultaneously. And so you as a human, we have to stop and look at what is the ultimate outcome, what really is happening here? What are we trying to accomplish? How are we trying to make it happen? And then look at how does time play into this? How does the idea that time can never be relived affect the plans we're putting into place if you do not pay attention to time? A lot of people I have long term dreams. I have a 40 year dream that is a long time when I tell people that most people think I'm crazy.

Most people do not support me. They don't want to support my idea because they can't fathom a goal spread out over 40 years. Three years seems like a long term goal.

So this is one of the things we as a society have to wrap our mind around the true value of time and years. The value of your time. You cannot put an hourly rate on it.

You can't, because that time will be invested somewhere and value will be derived from it. So, for example, you have an option to watch my videos or not. That is your choice.

That is your time. I invest the time making the video. I then share the video, and whoever would like to can consume the video.

This is how I'm leveraging my time across conversations. Yes. I don't get immediate feedback when I do it this way, but I reach a larger pool of people and can share my ideas further.

And that's one of the reasons I focus so much on social media, is because I have a 40 year goal. I have a 40 year plan. And you know what? The next probably two, three years of my plan includes me getting and working a w two job and cleaning up my debt, cleaning up the learning experience I've had as an entrepreneur.

That's my choice. That's part of my plan. Part of my plan is getting back on my feet.

Do you have a plan? Are you going through hard stuff? Because chances are you are, and chances are you probably don't have a long term plan. One of the things that makes going through some of the crap I'm dealing with right now easy is knowing I have a 40 year plan for who I want to be at 75 years old. Because no matter what happens in my life financially, I'm still me, and who I want to be matters to me.

So I'm focused on how do I set up my life in a way to share it, to own my time. And I think everyone should be once you start to change your perception around time and start to realize that every store you go to and spend money at, you're a vital part of that ecosystem. My opinion is you should get benefit from participating in that ecosystem.

This is why there's loyalty programs. They are designed to give clients benefits for coming back over and over and over again. That's the true value of time.

Right. It is not about one transaction. If you do things for one transaction, I promise you will fail.

You need to do things looking at, I believe the most important metric any company can pay attention to is the lifetime value of a client. What is the lifetime value of a client for you? That is the metric that you got to pay attention to, because the lifetime value of the client really shows how well do you collect future time? Because if I have a lifetime value of a client of a million dollars, but I only charge $1,000 a month, how many months do I have that client? Now, this is an unrealistic example because we don't have that much time to live. You can't go from $1,000 a month to a million.

You will die. Because time is real. Time is the most perishable asset in the world.

You know it's coming. You know tomorrow is going to come. But there is nothing you can do to speed up getting to tomorrow.

And once tomorrow does come, there's nothing you can do to slow it down, to enjoy it more. You got to look at the value of time. It is such a key component in life because you can never get it back.

So looking at everything going on in the banking sector, they have not built in the value of time into their business model because they do not understand that the customers and the employees are the two most important assets any company has. So you've got to design a system to take care of, to teach and nurture and care for both customers and employees. If you take care of the people, the people will take care of the business.

The reason a business exists is solely because the customers and the employees want it to. Look at what's happening with Silicon Valley Bank and the collapse. It's collapsing because the clients, the customers no longer want it as a business.

That's why it collapsed. Everyone at the same time said, oh, Nike doodles, this is going downhill fast. We got to change it.

We got to fix it. And so then they do. They go try and move money around.

They tried to sell stock, they tried to sell their bond. They couldn't pull it together. And now they're getting bailed out, which there's a lot of opinions on the bailout.

My personal opinion is it doesn't matter because all you're talking about is money. And money doesn't care about time. It doesn't think about it.

Think about all the billions of dollars that have been invested over the last year, 20 years. All that money got invested. It did something and it got circulated and it's still circulating.

Right? So time is the most valuable asset in the planet, guys. And as a company, you have to design your systems around collecting time. People who want to be a part of your system.

Once you design that system, the hardest part is to sell it. That's what I'm struggling with. But at the end of the day, it's all about time.

Whatever company can collect and monetize the most time wins. Period. Period.

And then once you've collected and started monetizing time, now you can buy more time. That's what BlackRock does. They buy time.

Any investment company, they're buying ownership in machines that are designed to collect time. It's how you build wealth. You collect time.

You collect other people's time. No one can own your time. They can only rent it.

That's what I've been thinking about. It's been fun to watch. I believe our world is headed to a crazy, crazy place.

But you know what? If that's life, life is crazy. Anyways. It is March 15, 2023, and time marches on.

If you ever need help, reach out. I'm right here. Don't forget to, like, subscribe follow.

If you got value from this, I'd appreciate hearing about it.

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Justin Stephens

Justin Stephens is a husband and a father of 3. He is always looking for ways to create the impact that he is chasing, changing the way employees are compensated in America.

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