Let’s be honest. Most of us don’t understand how money works. We merely understand the purpose and the role it plays in our survival.
We also believe in the routine of money, endlessly copying the same series of steps set by everyone else.
Does this scenario sound familiar?
Go to 4 year college and graduate with degree
Select job for entry level salary and title
Slowly work your way up the corporate ladder
Start a family and buy a home
Dream about retirement for 20 years
Retire when the time comes
Our gold standard of success; the path to a comfortable life.
In reality, that is an ordinary mindset producing ordinary results.
It’s hard not to get caught up in job titles, respect, promotions, and your annual salary. I’d be lying if I said those factors didn’t influence many of my own decisions.
However, to exist in the top-tier of wealth, you need to think differently than everyone else.
Get comfortable being uncomfortable.
“To achieve what 1% of the world’s population has, you must be willing to do what only 1% dares to do” – Manoj Arora
Most importantly, you need to learn how to make the most amount of money by using up the least amount of time. In order to achieve real financial freedom, it is first necessary to dissect two fundamental aspects of wealth (and life).
1. Time Is More Valuable Than Money
There is one simple thing wrong with you — you think you have plenty of time … If you don’t think your life is going to last forever, what are you waiting for? Why the hesitation to change? You don’t have time for this display, you fool. This, whatever you’re doing now, may be your last act on earth. It may very well be your last battle. There is no power which could guarantee that you are going to live one more minute.- Jack Kornfield
When Bill Gates and Warren Buffet were interviewed by Charlie Rose in 2017, the duo made sure to emphasize the one thing that immense riches and success cannot buy; more time.
You can use time to make more money but you can’t use money to make more time.
This simple truth is what great entrepreneurs understand.
Money can be spent as often as you’d like. Time can only be spent once.
2. Affluence Is Taught
I have recently become rather fascinated with the stories and lessons told by some of the world’s most accomplished people. This led me to research dozens of entrepreneurs, thought leaders, distinguished writers, and influential industry titans.
What I have discovered is that greatness is the byproduct of your mindset coupled with a series of learned skills and experiences.
Good luck and hard work play their roles as well, but the world’s most brilliant innovators often learn from the lessons and lives of others.
Someone always has to take the first leap of faith in an idea.
Everyone else figures out how to improve that initial concept and make it more profitable.
So, how do we combine both of these concepts into a high-level life hack?
The Next Step Is Automation
When I first started writing, I often struggled to make the time for it. I would wake up and cook my breakfast, run to work, go to the gym, and then get home at 9:00 pm, with little motivation or energy to write.
Then I decided to make a change that refocused my goals. I pushed workouts to the morning, made my breakfast the night before, and laid out my clothes for the coming day. At 6:00 PM I had four full hours to write and work on side projects.
I automated certain aspects of my life to create more time for other endeavors like writing.
This process is the same for income. What if you could make money while sleeping? Or traveling? Or spending time with family?
Here’s an example.
About two months ago, I decided to set up a Fiverr account.
For someone with no experience, side-hustling on a structured platform seemed like the perfect place to gain some exposure. I made a profile and set up a few gigs to gauge the interest.
I won’t get into the long details of this experiment, but in the end, I had spent 8 hours on 4 projects. This resulted in $28.
After that, the money stopped.
What I offered to temporary “clients” were my skills as a writer. Since people requested my services and left 5-star reviews, it tells me that a market exists for my writing abilities.
Instead of going back to Fiverr, I spent 8 hours building a value-based webinar with 90% of the content given away for free. The final 10% will be available for a small cost.
It has been a lot more work up front but could add a consistently stable revenue stream over time. I only have to make the webinar once. Then, I can begin a new project while profiting from the old one.
Building up a substantial flow of automated income is not an effortless process. The trick is to start by automating other aspects of your life before income. Once you grasp the methodology, utilize automation to turn active income into passive income.
Your initial attempt at automation doesn’t have to be a billionaire dollar business. Just focus on getting one person to pay for your service. Then push for more.
That is how something ordinary becomes extraordinary.
“Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.”
– Franklin D. Roosevelt
This article originally appeared on Medium.