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Have you bought into the hustle-and-grind culture?
Do you think more hours means more achievement or more money?
A study from Stanford shows that productivity per hour declines sharply when the workweek exceeds 50 hours, and productivity drops off so much after 55 hours that there’s no point in working any more. That’s right, people who work as much as 70 hours (or more) per week get the same amount done as people who work 55 hours.
I have seen that to be true too. In the last year, I have reduced my working time while tripling my income and living in alignment with my values. I am even able to travel whenever I want, spending six weeks at a time in Bali. So, in this blog post, I share my top ten actionable tips to help you work less, earn more, and live a fulfilling life.
The first step towards achieving a better work-life balance is to reflect on what success truly means to you. Take the time to consider your personal and professional goals, values, and aspirations. I believe in starting with your core values. By finding what matters to you, you can understand and redefine your definition of success. And, by understanding your definition of success, you can align your work and actions with your desired outcomes, leading to a more fulfilling and purpose-driven life. This is a workbook I use to ensure I am not getting swept up in the rat race, and always find a way to reflect, declutter and return to my core values.
To work less and earn more, it is crucial to have a clear understanding of your personal and business financial needs. Take the time to evaluate your financial situation and set realistic financial goals for both areas of your life. Break down these goals into manageable, monthly targets, and track your progress along the way. This will not only provide you with a clear roadmap for financial success but also help you make informed decisions about your time and resources.
One common mistake entrepreneurs make is underselling themselves and their offerings. To earn more, it is essential to price your products or services appropriately. Research the market and understand the value you provide to your customers. Aim for higher-ticket clients and nurture those relationships to maximise your earning potential. Additionally, consider increasing your rates annually as you continue to learn and offer more value to your clients.
Consistency is key when it comes to saving time and working more efficiently. You can streamline your workflow and delegate responsibilities effectively by implementing consistent processes and creating manuals for recurring tasks. This not only saves you time and mental energy but also ensures that your business operates smoothly, even when you're not directly involved. Embrace the concept of systemisation and reap the long-term benefits it offers.
Take a look at the systems I've built to allow me to live my desired lifestyle :
As an entrepreneur, it's easy to get caught up in various activities that may not directly contribute to your income. To work less and earn more, it's crucial to distinguish between tasks that generate income and those that incur costs. Prioritise income-generating activities, such as client acquisition, product development, and marketing efforts, to drive the overall success of your business. By focusing on tasks that directly contribute to your bottom line, you can optimise your time and resources.
Entrepreneurs like you often struggle with delegating or outsourcing tasks. Common concerns include the cost and the fear that no one else will do it perfectly. However, this mindset can lead to a drain on your time. Instead, focus on your income-generating tasks and those that bring you joy, and outsource the rest. Take advantage of outsourcing platforms like Upwork and Fiverr to find skilled professionals who can assist you with various aspects of your business. By finding international talent at more affordable rates, you can enjoy the benefits of outsourcing while keeping costs under control. Additionally, consider outsourcing personal tasks, such as banking, scheduling, or house cleaning, to create more space in your schedule, mind, and life.
Time sucks are activities that consume valuable time without providing significant benefits. Identifying and eliminating these time sucks is essential for maximising your productivity. Take the time to evaluate your daily routines and identify areas where time is being wasted. Common time sucks include excessive social media usage, unnecessary meetings, and disorganised workspaces. Develop strategies to eliminate these time sucks and reclaim wasted time for activities that truly contribute to your success.
As mentioned, Meetings can often be a significant drain on your time and productivity. To optimise your time, rethink the way you approach meetings. Shorten all your one-hour meetings to 45 minutes or even half an hour and observe the difference it makes. By setting clear agendas and sticking to them, you can ensure that meetings are focused and productive. Remember, time is money, and making the most of the time you spend in meetings can significantly impact your overall productivity.
Creating products or services that can be sold repeatedly is a powerful way to work less and earn more. By developing an item once and selling it over and over again, you can generate recurring revenue without constantly investing additional time and effort. Consider packaging your expertise into digital products, online courses, or membership programs. This allows you to leverage your knowledge and create scalable income streams while reducing your workload.
The myth of perpetual busyness has become ingrained in our culture, leading many entrepreneurs to neglect the importance of breaks and holidays. However, taking regular breaks and scheduling holidays is crucial for maintaining productivity and overall well-being. Breaks provide an opportunity to recharge, reflect, and gain fresh perspectives, leading to increased creativity and efficiency. Make it a priority to schedule regular breaks throughout your workday and plan for rejuvenating holidays to ensure you can sustain your productivity in the long run. I ensure to schedule at least one week-long break each quarter.
To help entrepreneurs like you achieve your dream life, while also balancing their values and goals, I have created a cohort coaching programme: 6-Figure Freedom Formula. It is a 2-month program for entrepreneurs seeking peer support to boost income, align business with personal values and achieve lifestyle goals. It provides a step-by-step guide to conscious brand building, backed by expert advice and a community of like-minded individuals, for balanced lifestyle and business growth.
You'll walk away with:
Incorporating these ten tips into your entrepreneurial journey can help you achieve a more balanced work-life dynamic, earn more, and live in alignment with your values. Remember that small changes made over time can have a transformative impact on your business and personal life. By taking action and implementing these tips, you can create a more fulfilling and successful future. Embrace the opportunity to work less, earn more, and live a life that aligns with your values.
If you need support to change your 24/7 entrepreneur life into one that allows you greater flexibility, freedom and fulfilment, join our 6-Figure Freedom Formula.