Getting out of the Hole
Posted Under: Career and Finance,Internet Marketing
So, if you’re in trouble financially, what are your alternatives?
As I’ve said in other posts, you have to know, really know, how much trouble you’re in. (Look at this post to review.) What is your level of debt? What does your cashflow look like? Then you have to figure out what to do.
Most people think that their only asset is their time. That is, they think only in terms of trading hours for dollars. But you know something? There are only 168 hours available to you in any week. That’s all. So no matter how many of those hours you are willing to work, there’s an upper limit on the amount of money you can bring in. Do you make minimum wage? Do you make $20 per hour? $50? $1000? $10,000? The upper limit is easily calculable. Therefore, the rate at which you can get out of the hole is equally easy to calculate. (By the way, you can’t work 168 hours per week. The absolute most you can do realistically is somewhere around 80. And that leaves time for precious little else.)
So what do you do? The solution is nearer than you might think, but it will take some serious rethinking!
My mother told me when I was a kid that the essence of success was to “work smarter not harder”. It took me decades to really understand — and more importantly, to put into practice — what she was talking about. The trick is to leverage yourself. Imagine this: if you could be in two places at the same time, you could earn twice as much money as you do now. What if you could be in four or eight or 100 places at the same time? You could earn four or eight or 100 times what you’re earning now.
“How do I do that?” I hear you ask. The answer is that you clone your expertise. You leverage yourself and your knowledge. Take a skill that you have and teach it to someone else and get them to pay you for it. Over and over and over again.
Over the coming days, I’ll be posting several entries on getting going in the world of selling your skills on the internet.
Day-to-day financial stress can get you down. Go here for a way to short-circuit stress.
