Who wouldn’t love to triple, quadruple or even quintuple your income while keeping the same number of hours? Sadly, it might seem like a pipe dream that is difficult to achieve because let’s face it, when is anything in life ever that easy?
While it might not be an overnight change, it is entirely possible to work less and earn more no matter what career you’re involved with, but it does take a bit of planning and some smart decision making. It’s all about making the most of your time, and in this article, we’re going to help you make those good decisions in life that can lead to more financial comfort.
Stop Overworking Yourself
The first rule is to stop overworking yourself. What’s the point in working a 50-hour work week if your goal is to make more time for yourself? This also counts for any side-hustles or at-home work that you might get yourself into. Just because you’re working away from the office, it doesn’t mean that it’s not considered working. In fact, working at home (at least, for those not used to it) can be even more demanding and tough than simply working in an office. There are more distractions, there are more problems that you need to overcome (such as technical issues that you don’t know how to fix or scheduling problems) and you’re ultimately not being as productive as you could be unless you’re accustomed to working on your own.
Overworking yourself isn’t just a waste of time and effort–it’s also dangerous. For instance, if you decide to work overtime for your employer and they start getting comfortable with asking you to work longer hours, then they’re going to start asking you to do things like work outside of office hours or off-the-clock and receive cash in hand.
Not only can this get abusive, but it’s not actually helping your chances of earning a promotion and you’re simply stagnating your growth. If you feel like your wages are being mismanaged or you’re being abused with overtime, then consider contacting a lawyer such as Brady & Associates to help you deal with the issue. As specialists in the Fair Labor Standards Act (FLSA), they’ll help break off the overworking issues and thus get you back on track with a normal job, normal hours and less associated stress and exhaustion.
Work For Yourself and Start Your Own Business
So now that we’ve explained why overworking yourself is a poor choice, let’s get to the meat of the article and explain how you can work less and earn more in any career of your choosing. The first thing you need to understand is that you can’t hope to achieve this if you work for someone else. You absolutely have to start your own business, a side-hustle or even work as a freelancer if you want to make more money and work less, and here is a simple reason why: your worth isn’t based on your time.
You don’t earn an hourly wage when you work for yourself and you’re not paid a set salary. Instead, you can find ways to be more efficient and effectively make as much money as you want for the time you spend–it just takes some hard work. If you’re serious about earning more money for the time you spend, then you absolutely have to start up your own business.
There are plenty of ways to go about doing this, but here are a couple of suggestions and tips to help you get started:
- Pick something that you are comfortable with. Unless you’re willing to learn more about an industry you’re not familiar with, it’s always a good idea to get involved in a career that you have experience with. If you’re passionate about a certain industry or subject then it’s perfectly fine to try and break into something new, but it takes far more effort, time and resources to do successfully.
- Use the skills that you have learned as an employee. Whether it’s learning from the mistakes your employer made or putting your work ethic to the test as a self-employed entrepreneur, make use of the skills you learned in your time working for another company.
- Consider investments if you have enough starting capital. If you have the starting capital required, then investments such as purchasing an existing business or trading can be excellent ways to earn more money in a shorter amount of time.
- Remember the rule of not overworking yourself. Even if you’re working for yourself, it’s a good idea to never overexert yourself and work overtime. Set a schedule for yourself and make sure you stick to it as best as possible. Set office hours and don’t work outside of them unless you absolutely have to.
- Focus on being as efficient as possible. Whether it’s removing distractions or learning something new while you sit on the toilet, there are plenty of ways to optimize your time and be more mindful of how you spend your days. Two of the best ways to be more efficient is to use automation when possible and to rely on your employees. They could be freelancers working remotely or people on your payroll–either way, micromanage less and trust in their abilities.
- Realize that it takes money in order to earn money. Let’s not forget that it takes money in order to earn money. Sure, you might be content with being a freelancer and saving every penny you make, but you should keep in mind that you could grow your wealth even faster by investing that capital and putting it into advertising, learning new skills or building a good website to draw in more customers.
In short, restricting yourself to a set pay and set hours isn’t going to get you anywhere in life. If you’re not content with the money you make and the career you’ve landed yourself in, then you need to start thinking about ways to make more money for the time you spend–it’s just basic math.