I've been self employed for over 20 years and for probably the most aspect, I really like it. But the trouble with being "your own boss" is which you are also you own employee and also you can wind up working just as challenging, being a slave to your work, each bit as a lot as working for someone else. And my boss (me) could be a genuine slave driver too.
Working in a service based business enterprise as I've (style and web design) also signifies trading hours for dollars as surely as if you were punching a clock. And regardless of how high your hourly rate gets, you will find only a lot of productive hours in each day. So there's a natural cap on just how much it is possible to make.
The only way to blast through that ceiling is to make the most of the idea of leverage. Folks discuss OPM - other peoples dollars - and that's a type of monetary leverage. I want to discuss OPW - other peoples work - as a technique to leverage the work and efforts of others.
I recently discovered (and about time too) the beauties and joys of outsourcing some of my consulting work. I found by way of a service known as Rent a Coder a very talented and hungry programmer in Ukraine that does amazingly terrific work for quite little dollars (in US dollars anyway).
As opposed to banging my head against the wall to understand Action Script, I can now hire Oleh in the Ukraine to complete the work and nonetheless charge my client my very own US standard hourly rate. I am now manager and inventive director and no longer the worker bee.
And I'm leveraging the expertise and labor of Oleh to accomplish the job needed, offering an awesome service to my client, giving fascinating and difficult work to Oleh and with each of us making cash. It is a win-win-win and I don't know why it took me so lengthy to find out the way to do this.
I'm now hiring a component time assistant in India who is trained in all the elements of search marketing, to do the tedious postings and submissions that I don't care to do or have time to complete. But that $400 per month I invest on this assistant I can leverage into thousands of dollars in revenues per month.
Outsourcing is usually a science and art in itself and beyond the scope of this post. For an incredible all about outsourcing service, see Sylvia Fortin's Workaholics For Hire. The key, as Sylvia will tell you, just isn't to hire some individual out on his personal someplace, but to hire a project manager that can in turn delegate to the ideal person, the particular process you need.
One more form of leverage is in operating 2 tier or multi level advertising and marketing businesses. Now, MLM has a tainted reputation for beneficial reason: considerably of it is crap and based on inflated prices of some not so wonderful product to ensure that the founders and early adopters can make money. Nevertheless the concept of multi level advertising and marketing is sound and you will discover great organizations and superior opportunities available. And it's an excellent example of leveraging the efforts of others to accomplish your objectives.
A person mentioned: "I would rather have 5% of the efforts of 100 folks than 100% of my own". That is the beauty of leverage: you work to sell your program and train your front line, then collect residuals from the work that THEY do, even though you might be off on your next project, or possibly relaxing on the beach in Fuji.
I've been although several such programs, have seen the worth but not made any revenue. Now, I'm creating funds in a program which is not really multi-level but is simply 2-tier. That is, I make money on all of the sales of my front line, but not beyond that. But in this case, which is fine mainly because I earn $200 on every sale of my front line and $600 on every single of my personal direct sales.
The firm is called Abunza and is now in pre-launch so is riding the wave of energy of what's specific to be an enormous firm in the early stages. You could discover additional about this chance by following the link below.