How to double your income WITHOUT doubling your working hours.
Grace Nelson
Regeneration Project Manager | Entrepreneur | Coach and Consultant | SaaS Agency Founder
What I have come to realise is that the principle of how to double even triple your current income is pretty simple, yet it takes a massive shift in mindset to fully understand and implement.
The good news is that?when you understand this one principle it will lift the limit on your income?while you still work the same amount of hours (or even less).
Let me start by presenting the situation that your current income is ￡50,000 and you want to double it.
Think about how likely is it that your current job can help you double it or if you were to go out to find another high paying job paying ￡100,000?
Why Your Income Is Limited Right Now
The reality is that so many of us have been bought in a world where we constantly trade our time for money. That means we work a certain amount of hours and get paid relatively. So whether you’re the caretaker or the Chief Executive, your income is based on showing up to work.
In short, your income is limited by…
How To Increase Your Value
In the world we live in, even though the caretaker or Chief Exec. work the same amount of hours, we know the Chief Exec. will always get paid more. This is because they bring more value to the company. Trying to work more hours is simply going to lead to ultimate burnt out, overwhelm, stress or insanity…?the key is increasing your value.
For many people, this means going back to school to get fancy degrees to add all the acronyms to your title or doing extra training… and YES this can help your income. However, unless you’ve dramatically changed your education level and experience, it may be challenging to find a job that actually doubles your previous income.
In order?to double our income or beyond we must answer an important question…
Why Does The Chief Exec. Get Paid MORE?
This brings us back to the key principle that will lift the limit on your income and that key principle is…
Leverage – The ability to do more with less
Are you taking notes?
The Chief Exec. produces a more valuable result because of the leverage they have. They are at the top of the management structure, control an entire company and the results it produces while the caretaker only controls the results of their own hard work.
Leverage comes from both money and people.?The Chief Exec. can leverage the capital of the business / organisation (the money) and the employees (the people) in order to create a much bigger result than they ever could by themselves.
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So Grace, how do I apply this principle to my income?
Well, the way I see it is if you want to double (or triple) your income then you need to create more leverage. The Chief Exec. of any business or organisation has the leverage of employees to create a greater result than just doing the work themselves.
So if finding leverage in your current job is not easy at the moment, the other way to achieve leverage is to look outside your job and?put some time into building a business.
By starting and growing your own business, you are starting out in the Chief Exec. position. You start by ?building a system that can leverage other people’s money and other people’s time to create bigger results than you ever could alone.
How To Really Double (Or Triple) Your Income
If you really want to dramatically increase your income, then you need to increase your leverage. This is not an overnight process, as you need to learn more skills and take action to achieve the results you want. However?the sooner you start… the sooner you see results.
5 years from now, you may have achieved a few salary increases, but will you have doubled your income through your job?
In the flip side,?in five years from now you could use your spare time to build a business that doubles your income, even year on year.
At the end of the day there are two types of people in this world…
Those that are?being?leveraged and those that are?creating?leverage
It’s up to you which one you want to be.
If this article resonated with you, join me in my masterclass Double Your Income Without Doubling Your Working Hours.
This is where I break down my proven framework for online business success as well as ways you can start to leverage your time, income and other people, when starting a business from absolute scratch.
Quote of the Week:??"Formal education will make you a living; self-education will make you a fortune." -?Jim Rohn, entrepreneur, author, and motivational speaker.
ABOUT GRACE THE AUTHOR.
Grace Nelson is a Business Startup and Mindset Coach and Managing Consultant. She has over a decade's worth of experiences working with a multitude of businesses include online start-ups and high street SMEs and has been instrumental in helping them gain visibility both on and offline.?
Grace is best known as a facilitator for change and empowers others to reclaim their power and move towards their wildest ambitions in life and business.
She currently helps women in corporate to GET PAID FOR THEIR KNOWLEDGE by creating and launching their signature online offer in 60 days from scratch - simply and profitably.