Leverage Your Time for Greater Profits and Success
Between work, family, friends, and your own personal interests, how much time do you have in a day? Take away eight hours for sleeping and eight hours for work and you have eight left. Throw in your commute back and forth from work, time spent with family, grocery shopping, house cleaning, running errands, emergency calls from friends, watching your favorite television shows, and just plain down time, and you begin to wonder how you manage to stuff it all in one day.Like most people, you know that starting your own business is smart finance. Although you have probably been at your job for decades, you know that in these unstable economic times you are just as likely as anyone else to become suddenly unemployed. You know that building an additional stream of income can help you achieve your financial goals as well as serve as a backup should anything go wrong. But with your jam packed days, you just can’t see where you’ll fit in the time. The problem isn’t that you don’t have enough time in the day. It’s that you’re thinking about the business the wrong way.Most people who have worked for a number of years bring an employee mindset to their entrepreneurial endeavors. What I mean by that is, when you are an employee, you are trading your time for money. For each hour you work, you are compensated a certain amount of dollars. In theory, the more hours you work the more money you make.When people go into business for themselves, they build their companies with the same dollars per hour thought process. They think that the amount of money they make must coincide with the number of hours they put in the business. While this is true to some extent, especially when you first start your business, it is not the only way to make money. In fact, the dollars per hour mindset is the quickest way to end up in the same dead end financial rut that you are experiencing with your job.If you really want to get out of the rat race and uncouple your time from your income, then you have to approach business development like the millionaires do. If you look closely at about 90% of the self made millionaires and billionaires, you will find that in addition to having multiple streams of income, they leverage the energy of others to build their empires.Oprah’s name may be on the company letterhead, but she has thousands of people who assist her with Harpo Productions behind the scenes. Donald Trump may be known as the real estate mogul but he, too, has thousands of people who help him run and manage his empire. Neither one of these people would be where they are today without other people signing on to help them build their businesses.Instead of taking the dollars per hour approach to your business, you should look at how you can leverage the efforts of others in a mutually beneficial way that maximizes your earnings. For example, you could spend a half an hour closing one sale that brings you a profit of $500 or you can spend that time training 5 others how to do it and earn 10% of whatever income they generate.In the first scenario, you only make money one time for a half an hour’s work. In the second, for that same half hour of work you have the potential to make a hundred times that much money without investing any more time or effort. Even if your five people only made $50 per hour for 40 hours per week, you would still make $1000. That’s twice as much money for a fraction of the time invested. Which sounds like the better deal?In my home based business, I make money several different ways. I generate income by introducing people to the convenience of shopping online. I also produce passive income by teaching others how to make money showing their friends, family, and business associates how to save money by shopping online.The system I use is not complicated and my success is mostly due to the fact that it is completely duplicatable. This means anyone can make money doing the exact same thing I’m doing. This is important because when you sign others up for the business, you want to make sure they are able to make money as well without investing in any specialty training.An added benefit is that the business simplifies your life by eliminating comparison shopping. Instead of traveling to the mall and trudging from store to store to get the best deal, the shopping site will display all of the businesses selling the same products as well as the price they are charging. Plus it eliminates what I call the “Costco Effect” – buying things that were not on your shopping list and the next thing you know you have spent close to $200 when you just needed a few things!If you are ready to build a real business the way the millionaires do it by leveraging the effort of others, then contact me for a free consultation. I will be more than happy to show you how you can turn 30 minutes of your life into thousands of dollars of passive income.
