5 ways to stop trading your time for money.

by | Articles, Business, Finance, Goals

If you’re running a business or work for yourself there’s no doubt you’re constantly trading time for money. 

Endless meetings, emails, phone calls, travel time… many being non-revenue generating tasks.

But that’s all part of the gig, right?

Wrong.

Here’s the first shift to make: Change your mindset around being “busy” equally more money.

It’s flawed, big time.

There’s no rule that says that to make X dollars, we have to work X hours. In fact, it’s more important to spend time “un-learning” the old ways than “learning” the new.

Time is all we have, and it’s limited. Which means your income is limited.

Here’s 5 ways you can better leverage your time to reduce your hours and increase your income:

1. Build your expertise and authority

Once we understand the strengths and value we can bring to others, we next need to build expertise around it. Developing expertise translates into larger value creation for ourselves and others, because we can now solve problems that few others can solve.

However, being recognized as an expert takes time and work, which is why building authority is just as important.

2. 16x the value of your time

Instead of working with 10 clients that are going to pay you $2 per hour, find two that will pay you $20, then drop the rest.

Finding a business model that allows you to leverage your time will open up a whole new income level for you. 

3. Create a product

To stop trading time for money, create an offer that you can sell and deliver without having to be there.

This means you could go on vacation, spend time with friends or sleep and still have the ability to benefit as customers purchase your offerings.

You’ll learn more about this in our upcoming workshop which will allow you to take your income potential to a whole new level. Read more about our ‘3 Steps to Building a Scalable Business’ workshop here.

4. Automate everything!

Figure out a way to automate and systemise everything possible. 

This could range from how you acquire customers, to how you deliver your products, to how you drive traffic.

Your time should be spent on long-term strategy, building relationships and growing the business. 

5. Scale, scale, scale!!

This is so important, yet often gets forgotten about until the wheels are already turning and your business is in full swing.

The best thing you can do for your business is ensure you create a scalable business model right from the beginning!

Simply put: A scalable business model allows you to earn a far higher income while working less hours. It involves all 5 steps above. 

We are hosting an upcoming event in Sydney and Melbourne where we will be outlining the exact steps required to build a scalable business model that’s automated.

Find out more about this masterclass here.

6. Wait, we said 5 steps didn’t we? 

Well, now there are 6, and we think this one is the most important of them all:

Now that you’ve done steps 1-5, it’s time to spend time with your loved ones, learn something new, or travel the world. 

Take the time to recharge, reconnect and do more of what you love. Time is only worth having if you spend its worth.

Can’t step away from your business for a month without your income taking a dive? You’re not alone. 

 

Credits:
Photo by Zan on Unsplash

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