Mad_About_Money_final Mad About Money_Dec 2016 - Page 12

MadAbout MadAbout Money Money Making money by selling time vs. making money work for you MANY PEOPLE ARE CONFUSED ABOUT WHETHER THEY SHOULD MAKE MONEY BY SELLING THEIR TIME OR SHOULD THEY MAKE MONEY WORK FOR THEM. THE LATTER IS NONETHELESS TRUE. THIS IS BECAUSE YOU HAVE GOT ONLY LIMITED TIME AND YOU CANNOT INCREASE YOUR EARNINGS AFTER A CERTAIN LEVEL. will work for a few hours for the same amount of income, which in turn will save your time and allow you to focus on other important things too. Build your expertise and influence P lus, it is not even necessary that you will get that promotion, even after you devote a lot of time working to your best. Taxes also cut down your income and you are even unable to make an impact on the world by giving back to the community. Due to all these reasons you should not make money by selling your time. Instead, you should make 12 money work for you. But, the question here is how you can stop trading your time for money and make money work for you. In order to do so, you just need to follow the below mentioned tips Change your mindset The first and foremost thing to do is to change your belief and mindset that you have to trade your time in order to earn money. This way you can open up your mind to a lot of possibilities. There is no rule that says you have to work for x hours in order to make x amount of money. what assets, knowledge, connections, ideas, or skills you possess that people will value. Plus, you should contemplate the value you can make for other people and the way in which you can deliver it. Therefore, you must consider trading value for money and not your time. For this, you need to identify your competency and strength. Find out Increase your time’s value You must consider providing professional or freelancing services for your time in order to increase the value of your time. Rather than working with ten clients, who will pay you Rs. 200 for an hour, you should find two clients who will pay you Rs. 2,000. The important thing here that you need to learn is that you should focus on a few things that can deliver a good number of results. This way you Once you know the value and strengths that you can give to other people, you need to build your expertise around it. By developing your expertise, you can create larger value for yourself as well as others, since now you can solve problems that not many people can solve. However, it takes work and time to become renowned as a professional. This is why it is important to build your authority or influence. By building your authority around your proficiency, you can aid people discover your ability. Through this, people will hear about you and your expertise. After all, if no one knows you, what’s the use of your expertise? You can build your authority with the help of influencer associations, press and media, case studies, and testimonials. By developing expertise and authority, you can trade value for money, improve your time’s value, and get lots of opportunities. Through these three tips, you can make money work for you, instead of making money by trading your time. Make use of them and save your time. 13