Work less and make more money? Seems impossible, right?
Making more money while doing less is the main reason why every business owner starts a business in the first place. Maybe you’ve invested a lot of time and effort in your work, but you still want to earn more money in less time – trust me, all start-up business owners want that too.
In this article, I’ve gathered some of the best tips from different successful entrepreneurs on how to make more money by doing less. If you want your life to be more productive and less busy, read on.
Okay, let’s dive right in.
1. Elevate Your Game and Be Your Own Boss
The main goal of establishing a business is to reach our own goals in life.
Ask yourself how much money you want to be making.
Decide what business activities are needed, and imagine or visualize yourself doing it.
You can compare yourself to other business owners and find out what they do differently.
Don’t ever let limitations stop you from succeeding.
One way to elevate your game is to think of yourself as a boss. You can hire an assistant who will support you in doing everything that needs to be done to keep your business afloat.
2. Take Advantage of Outsourcing
Do what you do best and let outsourcing do the rest.
Getting some help can’t hurt you, this way, you can lessen your stress and speed up the process of project completion as well. Outsourcing small tasks such as organizing the payroll can definitely save you a lot of time and energy. This will allow you to enjoy and spend an entire day relaxing with your family.
Outsourcing small tasks can also save you time on finishing up projects and starting a new one. This will also allow you to entertain new clients as they play an important role in business growth.
3. Be Around Great and Talented People
One thing every aspiring or even successful entrepreneur should do is surround themselves with talented people, mainly because you cannot possibly do everything on your own. With talented people around you, you can reach great heights of financial success and achieve your personal and business goals.
When you surround yourself with talented people, you can entrust them with crucial and important tasks, thereby reducing the workload on you. You don’t have to stress about tons of activities, you can always delegate some to people around you. However, choosing suitable and effective people to be on your staff can contribute to your overall business success, as well as failure.
4. Determine Takes That Generate Income
You may sometimes wonder, how do some people get so much more done in so little time, do they have superpowers? No, they don’t have superpowers, they just understand that making more money in less time and being effective involves knowing the highest-income and impact activities or tasks in their business.
Determine the different tasks being done in several areas of your business, know the tasks that actually generate income and the ones that are just time-wasters, and value and prioritize the tasks that contribute to the number of clients in your business.
5. Learn to Automate
Doing things manually is time-wasting and requires too much effort.
Automating manual tasks is a smart business move. This includes scheduling an appointment, posting or advertising on social media accounts, or automating email response.
Remember, investing in an automated system is not ‘cheating’ but a smart way to improve your productivity and this can play a significant role in increasing return on investments.
6. Master the 80/20 Rule
This rule explains that 20% of efforts you invested in your business will produce and contribute to 80% of the results.
The Pareto principle involves determining your business’ financial area and identifying the sections where maximum effort is needed and making necessary changes.
One way to determine whether your efforts are giving you the best results is to go through your business income or profit, valued clients, and projects and invest more time to that factor to maximize your results even more.
7. Take Every Opportunity
As your business grows, there are many opportunities that may come your way.
However, it doesn’t mean that you should grab them all, instead, choose the one that can contribute positively to your business or simply the one that can increase your business profits and requires less work.
Charge what your skills are worth as a business owner. Learn about the value-based pricing model.
It’s a pricing theory that helps you prove the value you provide against the amount of revenue you can actually generate.
Keep in mind that being transparent and honest with your customers will definitely make them loyal and trust your business.
8. Batch Tasks
Grouping redundant and similar tasks into batches can definitely save you a lot of time and effort.
It’s a simple technique where you group all the tasks that require repetition and complete or finish them together.
When done right, this will increase your business’ productivity and save you more time.
One example of batch processing is scheduling posts on social media, automated replies and interactions with your target customers.
9. Block Social Media at Work
A strong online presence undoubtedly plays a significant role in your business growth and productivity.
However, social media can also distract your employees and reduce their productivity.
Blocking social media sites can increase your employees’ focus on important tasks.
10. Avoid Demanding Clients
Some clients can literally suck the life out of you, so it is important to choose the capable clients that are worth your effort, time, and price, mainly because all jobs require some amount of work.
Be smart in evaluating your work schedule and consider dropping any demanding client or stressful project and choose only those that can contribute to your overall income or return on investment.
Keep in mind that you can always make more money, but you can never make more time and effort, which is why learning how to earn more in less time is very important.
11. Work Odd Hours of the Day
If you get the chance of working from home or any location you prefer, grab the opportunity.
Scope out the best times of the day you could easily get some work done.
You could also find a time slot which can work with your personal productivity time and the environment around you.
This way, you could enjoy and spend more time with your family and earn more money at the same time.
12. Change Your Billing Model
It’s a smart move to change your billing model if you want to make more money in less time, mainly because it will increase your reach.
It’s a good idea to invest in hourly rates and charge on a per-project basis. You can also opt out of monthly retainer fees or any billable rates that suit your business situation.
Doing this will allow you to easily budget other expenses and save more time, giving your business stability.
13. Create Customer-Engaging Content
One of the keys to reaching your customer target is to create relevant, informative, and updated content on your website.
This could often lead to better value and more actionable ideas that could also lead to a higher price.
14. Learn From Mistakes/Improve Daily
A successful entrepreneur has a great mind and makes good decisions, which is why keeping yourself positive and learning how to leverage your mind properly can be your best asset when it comes to reaching your goals and achieving success.
Most successful entrepreneurs practice self-improvement on a daily basis.
You can do this by challenging yourself, by reading something positive during the first 30 minutes of your day, this will enhance your mind and help you learn new skills that you can use in your business.
Remember that business growth starts with you.
Growing a business is not an easy journey, but learning how to invest less effort and time in your business while earning more can definitely allow you to have more freedom without sacrificing your income and lets you focus more on the business’ productivity.
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