- Passionate Income
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- Make More, Work Less
Make More, Work Less
Escape the solopreneur hamster wheel...
882 Words | 3 Min 40 Sec Read
Welcome to another issue of Passionate Income.
Today we’ll be discussing how you can make more while working less.
In particular, how to delegate time sucking and mind-numbing tasks so you can have more free time and do more of what you enjoy.
Let’s dive in.
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When it comes to business, marketing and sales are where the action's at.
They're the sexy bits people go to conferences for, fly to masterminds to learn about, and read endless books on.
Except for one small problem:
While marketing and sales are critical to getting a new business off the ground, they're not the most important aspect of the business. Especially if your goal is to build wealth or have a life outside of work.
No, in reality, it's Operations that lie at the heart of a business. Why?
Because with team members to delegate to, and systems and processes for them to follow, there is no business.
Instead, it's just you executing on tasks like a chicken with its head cut off. Except instead of following a system, you try to do everything from memory.
Which, as you can probably guess, leads to mistakes.
Doesn't matter if it's a three person "agency" or Tesla: Businesses run on employees who follow systems and processes.
Meaning, if you ever want to increase your income without having to work more hours, you absolutely must learn how to delegate.
Sadly, this is where 99% of solopreneur types go wrong.
Obsessed with maintaining 90%+ profit margins, they try to do everything themselves for as long as humanly possible. While this is feasible up until a certain point (which for some reason tends to hover around the $10,000 to $20,000 per month mark), growing beyond on that point without delegating is near impossible. Why?
Because there aren't enough hours in the day to "work more hours."
Not to mention, as you likely know, working insane hours for months and months on end is a near guaranteed path to burnout.
So what's the solution?
Start hiring people.
Doesn't mean you have to take on a full-time employee right away.
In fact, most of you should start with freelancers or contractors before you hire anyone. Mainly because doing so is both practice for hiring someone part-time/full-time, and an opportunity for you to get experience creating systems and processes (aka SOPs).
In terms of building your first set of SOPs, entire books, consulting programs, etc. have been dedicated to the topic. So that's not going to be something we can explain in short newsletter issue.
With that said, the following are highly respected books when it comes to the importance of hiring, delegation, and creating systems and processes:
To be clear, you do not need to read all of these.
What matters is diving into a couple of them, identifying the patterns and similarities, then taking steps to begin delegating.
Generally speaking, most people recommend starting off with:
Low value tasks you shouldn't be spending time on
Tasks you do not enjoy/hate doing
Repetitive tasks that can be outsourced for little money
Anything that's not in your zone of expertise/genius
Odds are it will take months (if not years) until you can delegate literally everything that's outside your zone of genius.
But over time, you can start by delegating the monotonous, mind-numbing tasks you hate working on (and that can be outsourced for cheap), then work your way up to tasks that are more critical to your business/would be more expensive to outsource.
Either way, understand there are only so many hours in the week.
As long as you're flying solo, your income will forever be limited by the clock.
More important, gaining your time back - without hurting your income - is basically impossible without delegating. Because let's be honest: If you could maintain your current income while working fewer hours, odds are you would have done it already.
So get out there, trying some low commitment hiring arrangements, and build up both your team and your SOPs over time.
Then come back and thank us (and yourself) once you realize just how much time you've freed up.
💡 Takeaway: While some individuals earn decent incomes as highly paid service providers, most of them work long hours. So if you want to free up your time, it's critical you learn how to delegate using systems and processes.
🎁 Resources:
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