Work Less, Earn More
Sick of working long hours for low pay? What if you could work less and earn more at the same time? By reassessing the way in which you earn money, you could achieve a better income and a better work/life balance. Here are just a few ways to work less and earn more.
Turn your hobbies into an income
If you love your job, is it still a job? Many people are able to make a fantastic income out of their hobbies. Because it’s something you’re passionate about, it won’t feel entirely like you’re working, and you could make more money out of it than your regular job by having the drive to make it succeed more.
Examples of hobbies that you can turn into an income include photography, gardening, dog-walking, craft hobbies, playing musical instruments and sports (you could coach it to someone else). Turning a hobby into a career isn’t entirely stress-free – you may have to do some rigorous marketing if it’s a competitive field and you’ll need to be of a certain level to go pro. However, a lot of these hobby-turned-careers do have the potential for you to earn big whilst having to work less.
You can also earn more money whilst working less by relying more on investment as a source of income. Whilst investment can have it’s risks and requires you to make an initial payment, it can be a lucrative way of making money in the long run.
Some investments can require a lot of legwork, however others can allow you to practically sit back whilst the money rolls in. Investing in the stock market is one way to make money without having to much work. By building up a stocks portfolio, you can build up multiple possible streams of passive income. Thanks to the option brokers and robo-advisers, it’s never been easier to get involved in the stock market – although some people may prefer to swot up and understand the process themselves rather than relying on a broker or software.
Renting out property is another popular way to make an income without having to put much work in. By buying a property and letting it out to tenants, you can make some serious money. Ideally you want a property that isn’t going to cost you a lot of money in maintenance and you want tenants that you can trust to pay their rent on time.
Work smarter, not harder
You can work less and earn more by thinking of smarter ways to work that are less time-consuming and more profitable. So many company owners fail to automate processes such as accounting and paying staff – these can often be lengthy and tedious tasks to do manually, but with software you can get these tasks done in no time. This could free up time in your day either to focus on core tasks that make you money or simply to spend as free time.
Whenever it comes to a gruelling task, start asking yourself ‘is there a quicker and more convenient way to do this?’. It’s this process of thinking that allows many entrepreneurs to make more money whilst working very little.