More Money Without More Time?

Okay, welcome to today's episode, I have been on the traffic to call this morning that is my small group mastermind with three other brothers from Wake Up Warrior we meet every week there in the states sometime around 11 or 12 pm.

On a Friday.

For me, it's a 4 am call on a Saturday morning, which actually works pretty well.

On the only one up, there is a clear experience connection between us that happens at that time.

And the discussion point today was looking at, how can I make more money without more time? And this is a very interesting question.

This should interest you, if you're a business owner, you like doing too many hours, perhaps you're working 50 6080 hours a week.

And this is leaving you trapped.

This is leaving you stuck, exhausted, wondering why you even perhaps began all of this.

And this actually gets more difficult if you're making good money.

Like money to me, I like having money.

It's useful.

It's an extremely useful tool.

And when I've got used to a certain level of money, it's certainly hard to drop back even though it can be done.

But if it's costing you 60 hours a week, then this might be something that you consider and say, Gee, is it worth it? So the actual problem that we were discussing was, well, how do I get more money without more time.

So let's break this down a couple of examples and say, let's say that you're working 40 hours a week, you making 20 bucks an hour.

Okay, great.

That's $800 A week before taxes before all of that.

So one option is to work more hours, I could work 50 hours, 60 hours, 80 hours a week, and that will bump it up.

And I'll go from 800 up to 1000 to 1200, a week or even 1600 a week.

But now I'm working 80 hours.

This is difficult.

If you have family, if you have other responsibilities, or even if you're getting on I'm 44 Life is more difficult at 44, than it was at 34 or 24.

So your next move that you could make is going okay, well, I'm going to increase the value of my hours.

So let's say that you could find a way and now you're getting paid $40 an hour.

So if you're just working that 40 hours at $40 an hour, now you're at exactly the same as if you're working 20 hours working at $20 now, but at 1600.

And if you did choose to increase your dollar amount, then you can perhaps work 80 hours at $40 An hour giving you a total of $3,200 in a week.

Pretty good.

But once again, notice that it is costing you 80 hours to get that much money.

So is there a solution? Is there another way? Well, I want to open your mind up that could you find a way that you earn $5 An hour without any time? And would you take that?

And this might be quite a difficult thing.

If you're making 100 300 $500,000 an hour, I'm like, Yeah, you want $5 $5 an hour.

Really, it's very difficult to accept that might actually be a valuable choice, because notice, the second part is $5.

Now with no time commitment.

And if you managed to do that once then perhaps you could do it again, and another $5 and another $5.

All without you needing to put more hours in $15 Now $30 Now $60 Now with no time commitment, and eventually you could get to a place where you are actually receiving enough money to cover your bills without any time requirement at all.

So there are three main ways to do this.

I'm sure you're familiar with this.

Number one real estate that you buy cashflow positive properties, these are properties that pay more in their rent, then the mortgage plus the costs of running them and the expenses and all that sort of stuff.

You might make $10 a week, $20 a week.

And they typically exist in markets that are less favorable.

This is not going to be the middle of San Francisco.

This is not going to be downtown New York City or might be in COVID but typically it's not.

The second option stops.

Okay, He goes you can buy a piece of a company and that company hopefully makes a profit and you get a piece of that profit.

And once again, you don't need to put any time mean, you're getting paid without time.

So there are firstly real estate and stocks.

And so we come to the third one business, your business, my business, businesses have the potential to give you money without your time.

Now, this typically doesn't happen.

For most small businesses, for solo entrepreneurs, it's just not possible.

Because everything in that business requires you to do it.

And even for most small businesses, the business owner is doing a large chunk of work to extract their payment out of it.

But if you get good at this game, then there is a thing that happens by the business that pays you without your time.

And that is called profit.

So you got to get a profitable business, that profit is generated as a reward for taking on the risk of the business.

And that profit is separate from all of the work.

Like imagine if you're a business owner, and you're working in your business right now.

And you could just pay someone and they did all of your work, all of the work that you're involved in, and you're now out of that business, and that business was still profitable, then you would be paying paid without having to do any work.

And that is a great benefit.

Because it allows you to get money without more time.

And perhaps you might choose to put your time and you might say, You know what, I love this, or I love certain aspects of this business.

Perhaps there's a genius factor or an X factor that you've gotten, it's like when you do that work, the out the outcomes for the business, that exponential like it's just like, cool, this has a direct effect on profitability.

And so you choose to be in there, but you don't have to be in there.

Because if you know how to systemize your business, if you know how to get other people to do the work of the business without your direct oversight, then you have the capacity to extract money without time.

So if this is something that interests you, if this either is because you are working too much, and you can't find a way out, and you can't even imagine that your business could run without you.

Or you're just like, You know what, I like this idea.

And I want to have multiple businesses because if you can systemize one you can systemize the second the third, the hardest one is going to be the first one.

It's a lot like the first million the heart first millions the hardest after that.

Hopefully, if you don't burn everything to the ground, you got you to know how to do it, she knows what steps are required, and you can go from there.

Alright, if you want to be invited, if you want.

If you want to be part of that conversation, head over to www.systemio.dev.

Enter your name, enter your email address, go to training there around systems and the power of them to generate money without time.

I look forward to seeing you on the next episode.

Thanks for tuning in today.

See you then.