After you read this short article, you’ll feel infused with fresh, ironclad, time-tested strategies that will help you quickly scale back the amount of time you spend on “work” and spend more time on the links. But please keep in mind that what you’ll learn here is not some random list of ideas to help you work less and therefore earn less. No way! You’re smart enough to realize that would be totally counterproductive to your cause – to support your lifestyle and hang out on the golf course 7 days a week!
What you’re about to discover are proven strategies put to work by all of the ultra-successful self-made millionaires, at least all those who value and put to practice the concept of true leverage in every aspect of their business.
Important Note: If you’re an employee (i.e., you work for someone else), I’ll be frank with you. This is going to be a bigger challenge than if you’re an entrepreneur. But even if you don’t currently own your own business, don’t worry – it’s never too late to become a successful entrepreneur. And if you can’t see yourself ever not working for someone else, that’s okay too, but you’ll have to be a bit more creative with how you can implement the following strategies to work to your advantage.
The Top 10 Strategies to Work Less and Golf More:
1. Leverage the 80/20 Principle
Boost your efficiency by removing the fat from your daily activities. Have you ever noticed that sometimes it takes you what seems like an eternity to complete a particular task? That same task, when you’re faced with a strict deadline, then literally take you less than an hour to polish off! There are many reasons for this phenomenon. Simply take the time to identify activities that take 20% of your time and are directly related to generating 80% of your income. This will show you exactly where you should be focusing your time.
2. Automate Your Business
I have spoken with so many business owners over the years who have told me with a straight face, “These are great ideas, but my business is unique and can’t be automated.” My boilerplate response: “Think outside the box.” Regardless of what business you’re in, if you’re putting in too many hours to cater to the other important things in your life, then something has to change. Pick your business apart, identify the cash cows and other profit centers, then pinpoint ways to put those income generating gems on autopilot.
3. Get Involved in Network Marketing
The network marketing industry has been around for approximately 50 years. Companies who have embraced this model for distribution of their products and services have experienced phenomenal growth and profitability. And so have network marketers. But the multi-level marketing (MLM) model has left a sour taste with the uninitiated, so many entrepreneurs tend to shy away from this industry for fear of “scams.” Donald Trump and Robert Kiyosaki said that if they had to rebuild their entire fortunes from scratch, they would do in network marketing. Do your due diligence: find a great company, with top-tier products, and favorable compensation model, and watch your income explode in 6 months.
4. Invest in Rental Properties and Other Companies
The concept of passive income that is promoted so feverishly by the likes of Robert Allen and Kiyosaki focuses on investing in rental properties and businesses. This is where you can develop multiple streams of income that continue providing cash inflow long after working on the initial transaction. In other words, if you invest in a duplex, you spend some time upfront on the acquisition, then you can sit back and enjoy the cash flow without having to invest any more time into it. Aim to find cash flow generating assets that you can take over ownership of.
5. Hire a Business Manager or Virtual Assistant
This is a technique that many business owners use for leveraged income. Simply stated, if you have certain tasks (or entire companies for that matter) that can be outsourced to a manager or virtual assistant, then you’re freeing up your time to do what you want with. It might skim a bit off your profit margin, but the time freed up is more valuable since you can then use it to find other investment opportunities.
6. Host One-Time Events
The concept of active leveraged income comes into play when you actively spend time on a one-time project and the income generated from this one-time event can be exponential. For example, let’s say you host a for-fee seminar. The time you spend on this seminar will be the same whether you fill the room with 20 people or 200 people. Oversell the event so you account for buyer’s remorse cancellations and make the most of your time.
7. Repackage Your Products and Services
Most entrepreneurs don’t realize how many additional income opportunities they can have by simply repackaging products they already have. For instance, if you’re selling a hardcover book entitled, “21 Recipes Every Mom Needs” then you have an opportunity for, just off the top of my head, at least 27 other products: and ebook that you retail on your web site, an ecourse that provides you with one new recipe per week for 21 weeks, 21 other ebooks (one per recipe with a much lower price tag), a dvd product, an audio cd product, a seminar (hmm, one-time event for leveraged income), a free teleseminar (a much lower cost one-time event opportunity), and the list goes on…
8. License Your Ideas and Products
If you have your own ideas or inventions that you have patented or is patent pending, have you considered licensing them to resellers and distributors in exchange for royalty payments? You can very well do the same for any services you provide that you’ve successfully repackaged as an ebook, CD course, etc. This is yet another fast and effective way to build a residual income stream.
9. Resell Other People’s Products
On the flip side, if you don’t have any products of your own (and even if you do), you can go out and find products that your existing customers and prospective clients will benefit from. In essence, you become a reseller, buying at a wholesale price and selling for retail, thereby pocketing the difference. Think of products that would complement your existing offerings and not products that will cannibalize your business.
10. Coordinate Regular Golf Outings
This is the one I really enjoy. As you might have already figure out, I love to golf. I jump at any opportunity to play 18 holes with pleasant company. Why not coordinate regular golf outings that will attract local professionals to (a) have a great time away from the office doing something you love, (b) meet new and interesting people from all walks of life who may very well turn out to be excellent prospects, and (c) build your public image so that more people become aware of who you are and what value you offer.
The largest and most successful corporations in the world are constantly re-evaluating their business models, assessing the results of key activities, and then adjusting as they deem fit. So do you think this valuable and insightful exercise is worth your time to exponentially grow your income? Well, if it means that the result is increased efficiency, improved productivity, a boost in profits, and both personal and professional growth, then absolutely! So go re-evaluate your business today, uncover ways to create multiple, passive income streams, and start working less and golfing more!
See you on the links!