Personal MBA: Three Univeral Currencies

Personal MBA: Three Universal Currencies

At 27 years old, I’m sorry to say that I neither possess an abundance of resources nor do I have the expertise in any one skill to demand millions of dollars for my time. According to Kaufman, of the three universal currencies, I’m resourcing poor, but I’m also rich in time and flexibility. Kaufman states, “In every negotiation, there are Three Universal Currencies: resources, time, and flexibility. Anyone of these currencies can be traded for more or less of the others.”

It’s fun to think of all of the different scenarios that I might be able to leverage my supply, or lack thereof, of universal currency to get what I want. Being rich in time and flexibility allows me to devote that extra time to developing and improving skills that can later produce more resources. An example I can immediately think of is my own business. I’ve devoted countless hours to planning, setting up and operating my business, so that someday it begins to generate a substantial amount of profit. I can then either continue running my business enjoying my monthly influx of resources, or I can sell the business for one large sum freeing up time and flexibility to focus on other opportunities.

Another example, is my goal for the program I’m currently participating in called Praxis. I’m acknowledging my lack of knowledge and experience, but asking for a modest salary and displaying a drive to learn and grow my abilities to provide value. I’m trading resources and flexibility for time to work with experienced professionals to help develop and improve my skills. Keeping an account of these three universal currencies is helpful for taking advantage of the potential opportunities in my future.