Work Effectively And Earn More (Part 2)

work effectively effective

I watched an Olivier Roland’s video  and I learned good stuff.

If you don’t have read Part 1, click here .

5 actions to be effective

5

Optimize your working time

Use Pareto’s Law by focusing on the 20% of your actions that contribute 80% of your results and using Parkinson’s Law to determine how long to complete a task.

Here are other actions to put in place to optimize your time :

  • Don’t disperse yourself

  • Stop multitasking – This has been scientifically proven to be a waste of time and productivity. Read this scientific study .

  • Stop interruptions – Things like smartphone notifications, emails or messages.

  • Group actions.

  • Remove unnecessary tasks – To find out if you’re doing a useless task, ask yourself this question from Peter Drucker : « Why am I doing this ? Is it necessary ? » With this question, you can easily delete unnecessary tasks. Exceptionally, you can use a notification on your smartphone that displays this question every 30 minutes. It’s a type of reminder all day long.

  • Identify the 20% of things and people that cause 80% of your problems and delete them. If it’s someone in your family, talk to that person 2-3 times a week instead of every day.

Automate everything you can

Many tasks can be automated in companies. For example to send messages on social media (I use Buffer  ). It’s possible to automate a sale on internet, it’s the customer who does everything. The customer looks for a product, uses his/her credit card by filing out the payment form of the website, and the bill created automatically based on the information provided by the customer, etc.

It’s also possible to automate a company, this is the case of Drop Shipping. Drop Shipping is when you sell products that you don’t have in stock and that are sent directly from the supplier to the customers. Amazon offers this type of service too, you can put in their catalogs products that you sell and entrust to Amazon for the stock’s management, sending and returns of products. I wrote an article on Amazon’s drop shipping, here.

There is also the case of muses that explains Tim Ferriss in his book « 4 hours workweek ».

Delegate

Focus on your strengths and delegate the rest. Create a list of tasks that you want to delegate with instructions. Then gives these tasks to a team by assigning each type of task to a specialist.

Duplicate

There is no point in reinventing the wheel. You can duplicate the recipes of your mentors success and use that in your own company.

Recycle

A job that you did can be reused in a different form. For example, articles from a blog can be used to make a book, a podcast or a video.

4 actions to earn more

4

Determine your goal and strategy

Determine your goal, your process to reach it and the strategy to put in place. Here are some examples of strategies for developing your wealth :

  • Replace your salary with real estate income and start your own company.

  • Keep your work as employee and invest a maximum on stock market to create passive income.

  • Create a company to have a complementary income like a blog, a podcast or a Youtube channel.

  • Buy a piece of land and build several apartments (condos).

  • Etc.

Optimize your management to spend less money

  • Analyse the things you have to pay to eliminate waste : unnecessary subscription, insurance too expensive, etc.

  • Print your bank statement and analyze it

  • Seeking a way to achieve the same result by spending less : compare, buy cheaper, negotiate to save money for the things you really need.

  • Optimize your taxation by reducing your taxes.

Recycle your skills and your work

You can work on something once and get paid several times. You can create a seminar, keep 3 children instead of 1, you walk 5 dogs instead of 1, etc.

You can also use a job you have already done to create complementary income. Foe example, if you like to take picture, you can put them in stock photos on internet.

Duplicate the processes known to create wealth

  • Pay yourself first

  • Make money work for you by saving at least 10% of your income to invest them.

  • Invest in yourself with training to learn new skills

Here are the options you can use to create a company that serves your life (and not your life serving your company). With internet it’s easier to use these levers with a blog, podcast or a Youtube channel by creating content.

Share this article if you think it can help someone you know. Thank you.

-Steph

Improve Discipline

discipline

I watched an Olivier Roland’s video  and I learned good stuff.

Here is how I worked, a few year ago. I had a project that I really wanted to do and I thought to myself : « When I come back home tonight after eating, I work on it ». And after eating, I preferred to play video games or watch a TV show until sleep. I think that situation has already happened to you.

Regret is a poison

regret

Now I realize that if I had done these projects, I would have had more fulfilling lifestyle, I would have leaned to manage my money earlier and I would have interesting contacts earlier. Maybe I wouldn’t have had it all earlier but in any case a part, that’s for sure.

Discipline and productivity are important skills to create and evolve a project. I did project but these weren’t my most ambitions projects. These weren’t projects with big risks, so I dissatisfied inside of me. The problem is that all this insatisfaction transformed into frustration.

There are a lot of things I wanted to do in theory and that I never did.

As you know on my blog, I mainly talk about fitness/bodybuilding and I notice that many people enroll in a gym with a 3 months subscription and go to the gym only 2 times. This is a classic case.

Know that there is a solution because before I had very little discipline and productivity and now it’s improving more and more.

Track you progress

track progress

To have more discipline and productivity, you need to make sure that this is a long-term goal. This requires several years to have concrete results like for sport. We would like to have results right away but the best things take time because it’s an exploration in yourself.

This is not going to be Disneyland every day because there are times when you’re going to tell yourself you’re not going get there. That’s why you need to keep track of your results. It’s interesting to note why you’re less motivated to continue your project to better understand yourself. You’ll read books on personal development, follow training, meet people who have the same goal as you. With this methods you’ll build your own toolbox to improve your discipline and your productivity.

What is cool when we keep track of our results is that we can see our evolution from month to month, year by year. It’s funny to see your results 2 years ago to really realize your progress.

Increase your success

increase success

To find a way to improve my discipline and productivity, I read on internet that enrolling in a group of people who shared the same goals as me could be extremely motivating. So I looked for websites and Facebook’s groups. What is interesting in groups is that every week a person offers a challenge. Then everybody share their results and everyone shares their impressions.

It’s also possible that you find a person in your entourage who has the same goal as you. I find it really cool to put people around you into groups because the more people there are the greater the motivation.

You see, the fact of telling everyone that you are challenging, force you to be disciplined and productive to complete the project. And there were always funny punishments for people who didn’t show their project. And little by little, you improve and often you have proposals to make competitions.

I used to do this for sport at first but this concept is used in all fields such writing, photography, dancing (I like dance salsa), cooking, etc. And in all these field there are competitions several times in the year. Here is an example that astonished me, watch the paper airplane world championship .

No need to be a shaolin monk

shaolin monk

By tracking your results, you’ll find ways to boost your will without it being painful. You know, you don’t have to work to have the discipline’s level of a Shaolin monk, you just need to have a discipline’s level that allows you to make your projects a reality.

Several scientific studies have made an important discovery in order to better understand human beings. This is because the will is an element that trains as a muscle to develop. Which means that to develop your discipline, you have to train it like a muscle and it doesn’t happen overnight.

Here are resources, this article. Kelly McGonigal’s book « The Willpower instinct ». Viktor E. Frankl’s book «  Man’s search to meaning »  on attitude and discipline in the worst circumstances.

Share this article if you think it can help someone you know. Thank you.

-Steph

Dramatic Mistakes

dramatic mistake

I watched an Olivier Roland’s video  and there is good stuff.

Usually beginner entrepreneurs make 3 dramatic mistakes.

Don’t be focused on sales

sales

When we run a company, the most important thing to do is make sales. Find first customers as soon as possible to have enough sales to achieve breakeven. Breakeven is the moment where we earn enough money to pay salaries, rent, internet bills, etc. One this step is done, work hard to have profit every months. This is the first priority when we create a company, achieve breakeven as soon as possible.

A lot of entrepreneurs are focused on others things less important like choose furniture, think about website’s design, think about visit card’s design. These things are useful but they are not a priority, they are really useful when you don’t have customers, right ? At the beginning, it’s 80 % of your time to find and convince customers.

If you are too shy to speak to someone, you can use social media. Now, a lot of introverted have millions of customers with social media, it’s cool.

Not outsource accounting

accounting

Beginner entrepreneurs spend too much time to accounting thinking save money. It’s a dramatic mistake because this distraction prevent them to make sales. Accounting is complex and complicated and if you make a mistake, this can have a huge bad result with accounting, tax and legal. It’s better to have a good accountant and it’s not expensive. When we begin a company, we can negotiate. Outsource accounting is in the budget.

Not make recurring offers

recurring offer

There is a difference between smart entrepreneurs and others. Smart entrepreneurs don’t try to sell one time to a customer, they make recurring offers to develop customer’s loyalty. It’s possible to do this with physical products with a subscription or a maintenance contract for 6 months or 1 year.

Do you know others dramatic mistakes make by beginner entrepreneurs ?

-Steph