by Dr Boyce Watkins

Most people grow up thinking about money in all the wrong ways. We think of it as a trade off of time for money. For example, a man making $20 an hour assumes he has to work 100 hours to earn $2,000. Rarely do we teach our children that there is no definitive connection between how long you must work in order to earn a certain amount of money. We just assume they are going to be a laborer.

Hourly thinking is a difficult way to build wealth and make a living, largely because it makes the simple assumption that in order to get more money, you must ALWAYS give away hours of your life. These are hours that can be spent with loved ones, enjoying your life, resting, or doing the things you enjoy. Instead of doing the things we love, we risk spending all of our time at a job we don't enjoy, serving a boss who is going to replace us a few days after we drop dead at our desks.

You don't have to go out like that.

You may want to consider that money can (and should) be earned in a way that is independent of time. But this requires a shift in thinking and may run in the face of things you've learned and heard since you were a child. Let me give you five easy ways to build a "financial time machine," where you can earn lots of money without trading money for time.

1) Learn to start a business - Every black child should learn to start a business before the age of 12 as a means of economic survival. Also, if we have millions of our children learning to start businesses, some of them are going to be major job creators for the next generation. Business owners are among the few people in America who are able to earn large amounts of money in short periods of time, because it is the impact of their work that matters, not just the amount of time they spent doing it.

2) Learn to delegate - This is where you buy the time of other people. Even as you choose to stop trading money for time, there are others who will refuse to adjust. These are the people you hire to do work on your behalf. As you compensate them for the time they are spending, you can spend your time delegating rather than working, which will make you far more productive.

3) Learn to build systems - Systems are typically more effective than individual people. A system with processes, rules and protocols forms the foundation on which large companies like are built. Understanding systems, processes and delegation is how Jeff Bezos took Amazon from a two person show to a company that earns roughly $275 million dollars an hour. There is no man on earth who can work hard enough to earn this much money by himself.

4) Learn to sell a product - If you can sell a product, you are no longer stuck in the production phase of the business process, and are now able to control distribution. A person who can sell a product will never be broke, and the amount of money you make won't be directly connected to the number of hours you spend on the job.

5) Learn to find a customer - Finding a customer is as simple as finding someone who has a need. Just like you, this person likely has money in their pocket and is willing to use these funds to fulfill that need. So, making a sale to a customer isn't about getting people to buy things they don't want. It's about fulfilling a need in exchange for fair compensation.

Those who learn to make money without connecting it with time tend to be the millionaires of our society. Learn to think big, go hard, make sacrifices and build for the future. That's how you can get ahead in the competitive game of global economics.

Dr Boyce Watkins is a Finance PhD and founder of The Black Business School. To study under Dr Watkins in his stock market investing program, please visit