Philadelphia has quickly become one of my favorite cities. If I had understood its beauty in my 20s, I would have seriously considered moving there instead of New York City.  We were only there for a short time, but my family and I made the most of it and learned a lot along the way. 

My kids are absolutely fascinated with the graves of the famous people we’ve seen throughout this first leg of our journey. I’m not exactly sure why, but maybe it’s because it brings them out of the books and conversations and almost into life.  Last week, we visited the graves of Benjamin Franklin and Betsy Ross, also exploring their homes and other landmarks. These two individuals left significant marks on history—though Franklin’s achievements are more diverse and widely recognized, both led extraordinary lives.

Time: The Key to Accomplishment

Benjamin Franklin’s contributions extend far beyond the discovery of electricity (which he didn’t technically discover, by the way—he was just the first to harness it). His influence is deeply ingrained in Philadelphia’s fabric, and he played a crucial role in the founding of our nation. He established the country’s first volunteer firehouse, co-founded one of the earliest hospitals, invented bifocals, and served as the first Postmaster General, among many other feats. So, how did he manage to do all of this?

For one, the founding fathers had less access to information than we do today. Without the constant bombardment of media, social media and need for instant gratification, they had the time to absorb and apply knowledge in a way that seems almost foreign to us now. Learning wasn’t just about access—it was about the depth of understanding. Ironically, Franklin, who often reinvented himself through pseudonyms, understood the value of perception much like we do in today’s social media-driven world.

Some might argue that these historical figures accomplished more because there was simply more to discover back then. But I disagree. Even with all of our technology, there’s more than ever to uncover. Perhaps having access to less information allowed people to focus more. How often do we lose an hour to Instagram or Facebook? When was the last time you drove in silence without a podcast or music in the background?

As Derek Sivers once said, “If [more] information was the answer, then we’d all be billionaires with perfect abs.”*

Time as Your Greatest Asset

Time is our most valuable asset. It is the foundation of everything we want to achieve. Naval Ravikant famously said, “Set a high personal hourly rate and stick to it.” Wasting time means squandering an irreplaceable asset and by placing a cash value on the asset, we can more logically understand how an hour lost has a direct consequence. This doesn’t mean we need to be busy every hour of the day—it’s about using our time wisely, even if that includes periods for rest and relaxation. 

During this trip, I’ve found that while days fly by, my accomplishments—whether work-related or personal—are much more focused and significant. Sometimes I’m amazed at how productive I’ve been; other times, I realize I’ve deepened my connection with my family. Both outcomes hold immense value. I don’t squander time on social media or procrastinate in the way I did when my kids were in school for eight hours and I worked from my brick and mortar home because I don’t have that luxury when we want to see and do so much. 

In relation to Naval Ravikant’s quote above, he suggests factoring in your hourly rate value, even if it is higher than the market will pay you, to any decision you make regarding your time. If you want to drive across town to return something you purchased on the internet, is it worth your time as money value? I’m not sure I’m fully on board with looking at everything in this way until your cash accounts render it a possibility, but it is a useful concept when considering how you spend your time on social media and as an entrepreneur. 

Outsourcing: Leveraging Your Time

If time is so valuable, where could you free some up by outsourcing? In the past, Ive been guilty of trying to do everything myself to save money, only to end up frustrated and then hiring someone later to fix it. Does that sound familiar? Naval Ravikant also said, “You’re spending time to save money when you should be spending money to save time.” While you may not have all the resources to fully free up your time, consider outsourcing smaller tasks now to create mental space for greater productivity. 

For example, my husband and I outsourced our lawn care and home cleaning, freeing up time to focus on activities that have a more lasting impact on our health, relationships, and wealth. I also outsource most of my marketing and any website development activities. In the near future, I’ll outsource the bookkeeping for mine and my husband’s business that houses three separate dba’s and a rental property business, despite my background as an accountant and CFO. 

We often confuse having physical money and cash with building wealth, but as Dr. Benjamin Hardy points out in 10x is Easier than 2x, what we truly desire is the freedom that money provides—the freedom to spend our time as we choose. Cash is the necessity to support spending your time in a way that you truly value. For many entrepreneurs that doesn’t mean quitting the business, it just means not doing the tasks associated with the daily grind so you have more time to do what you enjoy and will really propel the business forward. Is there anywhere you could make this investment in now? If your hourly rate is $100, should you be doing an activity that you could pay someone else $20 to do? 

Setting Your Hourly Rate – What If You’re Not There Yet?

“Earn with your mind, not with your time.” This philosophy means prioritizing tasks that align with the value of your time. Benjamin Franklin, who had only two years of formal education, became a millionaire—not through traditional schooling, but through the relentless pursuit of self-education. Today, we have countless resources to build our skills, like podcasts and online learning platforms, which can help anyone increase their earning potential. 

Here is a platform I’ve used to help build my skillsets:

• Coursera – get access to online courses from Google, Ivy league colleges and others. You can even earn college degrees via Coursera. Here’s a link to get access for $1 for your first month (a $47 value!)

The fastest way to build your wealth and really increase the value of your time is through entrepreneurship and investments in other’s business. True monetary wealth comes from building equity, which requires the ownership of an asset. Genuine wealth, however, comes from the freedom of spending your time in the way that aligns with the value you’ve placed on your time. If you are not there, how can you create this to be different? 

Lessons from Betsy Ross

Before wrapping up, I must mention Betsy Ross. She’s often underrepresented in history, but she was a trailblazing female entrepreneur (full blog on this to come at a later date). While she is best known for sewing the first U.S. flag, that is not her only accomplishment in life. Despite losing her first two husbands, she persevered. First, she created her own upholstery business that she operated for nearly 50 years. 

Betsy was also active in the women’s suffrage movement. While traction was not gained until much later, she was one of the first to speak outwardly about the fact that the newfound rights of the Constitution were not applicable to women. 

Following the Revolutionary war and during the period of instability, the economy in the U.S. was in a tailspin and people were not purchasing upholstered items as much as they had previously. Betsy saw an opportunity to use her newfound flag skills and pivot her business so she could not only survive, but thrive. She negotiated contracts with the U.S. Navy to sew the flags for their ships and was able to succeed until she could get back to her true passion of upholstering with diverse fabrics. 

This visit had a profound impact on my oldest child, who woke up early the next morning and asked if she could “write like you do, Mommy.” She spent the next hour researching and writing about Betsy Ross, which led to a conversation about what it meant to be a female entrepreneur then and now. Moments like these—watching your child become inspired—are absolutely priceless.

Final Note

I spend a lot of time reading business books and had two thoughts occur to me recently. The first is I’ll start making some suggestions here as I come upon any that had a profound impact on me. And the second is I need to read some of the other books that have been sitting on my Kindle for quite some time.

• 10x is Greater than 2x by Dr. Benjamin Hardy
• The Almanack of Naval Ravikant by Eric Jorgensen (this is great for a summary of his quotes which I enjoyed, but not for profound learning necessarily)
• Playing to Win by A.G. Lafley and Roger Martin

*quote attributed via Tools of Titans by Tim Ferriss