“Work smart, not hard”. Isn’t this a big cliche? Doesn’t everyone dream of working smart and not hard? And doesn’t it turn out differently all the time? Let me explain how you too can work smart instead of hard, and make more money while you’re at it! Here’s how I did it…
Let other people do the work
The big secret of working smart and not hard is to let other people do the work for you. That is easily done when you have a big business with hundreds of employees, but how do you start out? Well, let me tell you how my business partner and me started letting other people doing the work for us, and making a lot of money at the same time.
The idea is pretty simple, and can be explained along the lines of an investment. Let’s say you have a project which would mean you’d earn $100.000,-. The project would cost you 10 weeks working full time to do by yourself, so this means you earn $1.000,- per week. Not too shabby!
But we want to make more money in less time! The solution to this problem is to hire someone else to do the work for you, for example, an employee or a third party company. The trick is to find a cheaper way to do this, for example a company or person that can do it in the same amount of time for $80.000,-. Usually you can find a cheaper deal in the form of outsourcing abroad or hiring someone full time (since wages are usually much lower than what you can charge per hour to customers).
How this helps you to make more money
If you would walk this route, your income would suffer, because this solution would only mean $20.000,- in your pocket! While doing it completely yourself would mean a whopping $100.000,-! But the big advantage of having other people doing the work is that you’ll spend far less time on searching a company or person to handle the work (let’s say 1 week) which means your weekly rate is much higher!
Here’s how the numbers work:
|Doing it yourself
||Having others do the work
|Third Party Costs||$0,00||$80.000,00|
|Time Spent (weeks)||10||1|
|Weekly Rate (Your Share / Time Spent)||$10.000,00||$20.000,00|
As you can see, having other people doing the work can mean increasing your weekly rate with 100%!