The Surest Way to Make More Money
Nice discussion on the Warrior Forum that ties up the hot topic of the moment for Internet marketers - outsourcing.
I thought you'd gain great value from reading - and applying - the advice in this article from Jonathon Mizel. I recommend HIGHLY his Online Marketing Letter.
Dear Friend and Subscriber,
Last month, I discovered what may be the most critical business lesson of my entire life, and I want to share it since I’ve never heard it explained this way before.
It’s more of a philosophy than a technique, and it has to do with your personal relationship towards time. It’s practiced by nearly every successful person I know, though few discuss it, and most do it unconsciously.
Here’s the deal: I think you would agree if we all had unlimited time on this earth, any one of us could eventually become successful. After all, we’d simply try something, and if it didn’t work, we’d try something else until we found a winning formula.
But we don’t have unlimited time, not by any stretch of the imagination. In fact, the older you get, the more you understand time is far more valuable than money. You can always generate more cash, but once time is spent, it’s gone forever, and someday, you will die. (Profound I know, but it’s true.)
Well listen up, because I learned how to create more time for myself and also make a lot more money in the process (plus, have a lot more fun doing a lot less work).
Ok, let’s start:
Say you have a goal to make some money, and for the sake of argument, let’s pretend the amount you want to make, over the next 12 months, is one million dollars.
Now that’s a lot of money to think about in one lump sum, so let’s break it down to something more reasonable:
First, ask yourself how many days a week you want to work. We’ll say five, which is realistic.
Second, ask yourself how many hours a day you want to work. We’ll say five because we are lazy.
Third, find out how much per hour that comes out to be. In this case it’s 260 days times five hours divided into one million dollars, or $769.23 per hour.
Hold that thought for a minute.
Now, make a list of the tasks you do every day. In other words, the actions you perform when you get into the office or start your day (and be honest with yourself). For us, it’s a variety of things, from administrative duties to copywriting to answering the phone.
Here’s the important part: Put a dollar amount next to the task that represents what an independent contractor or employee would charge to do the job properly. If it’s something only you can do (like setting up a joint-venture), put down how much you earn when you do that task.
Our chart looks something like this:
Employee tasks:
Responding to e-mail: $20/hour
Answering the phone: $15/hour
Accounting: $50/hour
Programming html and Java: $75/hour
Backing up computer system: $10/hour
Picking up office supplies: $7/hour
Critical tasks
Developing new products: $750/hour
Setting up large joint ventures: $2,000/hour
Developing new affiliates: $1,000/hour
Rewriting sales letters: $1,000/hour
OK, here’s the million dollar a year secret!
In order to achieve your financial goals, all you need to do is spend your time on activities that generate more than $769.23 an hour and put in a full five hours, and according to your own formula, based on how often you want to work, you can (and will) make your $1,000,000!
Get it? Only do the expensive work, the sales, copywriting, business development, and production (or whatever the high dollar tasks are in your own business).
What about the other stuff that needs to be done every day?
Easy, since there are daily tasks that need to be done in every business, either automate them using technology, or hire someone else (employee or contractor) to do them for you!
You can’t afford it you say? Hogwash! You have just proved to yourself that you can’t afford not to replace activities that move you further away from your goals.
In fact, if you find yourself doing $10/hour work, you may want to just get a job working for someone else, since you can probably beat that lowly rate.
What’s that? You don’t want a job, you scream? You want to build equity in your own business?
Easy, just give yourself a raise, and learn to get rich at the same time!
Respectfully submitted,
Jonathan Mizel
I thought you'd gain great value from reading - and applying - the advice in this article from Jonathon Mizel. I recommend HIGHLY his Online Marketing Letter.
Dear Friend and Subscriber,
Last month, I discovered what may be the most critical business lesson of my entire life, and I want to share it since I’ve never heard it explained this way before.
It’s more of a philosophy than a technique, and it has to do with your personal relationship towards time. It’s practiced by nearly every successful person I know, though few discuss it, and most do it unconsciously.
Here’s the deal: I think you would agree if we all had unlimited time on this earth, any one of us could eventually become successful. After all, we’d simply try something, and if it didn’t work, we’d try something else until we found a winning formula.
But we don’t have unlimited time, not by any stretch of the imagination. In fact, the older you get, the more you understand time is far more valuable than money. You can always generate more cash, but once time is spent, it’s gone forever, and someday, you will die. (Profound I know, but it’s true.)
Well listen up, because I learned how to create more time for myself and also make a lot more money in the process (plus, have a lot more fun doing a lot less work).
Ok, let’s start:
Say you have a goal to make some money, and for the sake of argument, let’s pretend the amount you want to make, over the next 12 months, is one million dollars.
Now that’s a lot of money to think about in one lump sum, so let’s break it down to something more reasonable:
First, ask yourself how many days a week you want to work. We’ll say five, which is realistic.
Second, ask yourself how many hours a day you want to work. We’ll say five because we are lazy.
Third, find out how much per hour that comes out to be. In this case it’s 260 days times five hours divided into one million dollars, or $769.23 per hour.
Hold that thought for a minute.
Now, make a list of the tasks you do every day. In other words, the actions you perform when you get into the office or start your day (and be honest with yourself). For us, it’s a variety of things, from administrative duties to copywriting to answering the phone.
Here’s the important part: Put a dollar amount next to the task that represents what an independent contractor or employee would charge to do the job properly. If it’s something only you can do (like setting up a joint-venture), put down how much you earn when you do that task.
Our chart looks something like this:
Employee tasks:
Responding to e-mail: $20/hour
Answering the phone: $15/hour
Accounting: $50/hour
Programming html and Java: $75/hour
Backing up computer system: $10/hour
Picking up office supplies: $7/hour
Critical tasks
Developing new products: $750/hour
Setting up large joint ventures: $2,000/hour
Developing new affiliates: $1,000/hour
Rewriting sales letters: $1,000/hour
OK, here’s the million dollar a year secret!
In order to achieve your financial goals, all you need to do is spend your time on activities that generate more than $769.23 an hour and put in a full five hours, and according to your own formula, based on how often you want to work, you can (and will) make your $1,000,000!
Get it? Only do the expensive work, the sales, copywriting, business development, and production (or whatever the high dollar tasks are in your own business).
What about the other stuff that needs to be done every day?
Easy, since there are daily tasks that need to be done in every business, either automate them using technology, or hire someone else (employee or contractor) to do them for you!
You can’t afford it you say? Hogwash! You have just proved to yourself that you can’t afford not to replace activities that move you further away from your goals.
In fact, if you find yourself doing $10/hour work, you may want to just get a job working for someone else, since you can probably beat that lowly rate.
What’s that? You don’t want a job, you scream? You want to build equity in your own business?
Easy, just give yourself a raise, and learn to get rich at the same time!
Respectfully submitted,
Jonathan Mizel
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