Most of us have been taught certain beliefs around money.
I can’t remember how many times I’ve been told “money doesn’t grow on the trees”. Etc.
Many people use these phrases, in one form or another.
These statements are technically correct, but they carry a certain message with them.
We’re taught that it’s not easy to make money, and money is a finite resource. That’s the underlying message.
And it seems these statements also install limiting beliefs inside us.
If you believe it, it will be your truth. It will be how you live your life.
And then we have myths like the one in the header of this article – “you have to work hard to make a lot of money”.
Before we go on, it’s important to have an understanding of what is considered to be a lot of money.
If you want to become a billionaire, you’re going to need to work hard. And you need people around you to work hard. And you need to possess certain natural talents, a truckload of luck, and the right timing.
But in this article, we’re not talking about becoming a billionaire.
I am talking about making a healthy 6 or 7-figures per year.
For most, it’s a lot of money, and it’s a sufficient amount of money to live well.
And in this case, I believe that it’s not necessary to work hard. How come?
Well, it’s far more important to focus on the right activities and acquire the right skills.
You either have to sell something that people are willing to pay a lot of money for, or you need a product you can sell to a lot of people without having your cost of production raising proportionally. Usually, such products are a piece of code (software, online games, etc).
If you can provide a high-value service or know how to produce products that appeal to a large number of people, you don’t have to work extremely hard to make six-figures per year.
There are some universal high-income skills you can learn. Coding (creating software products), selling, writing, speaking, etc.
Writing and speaking can be used for many different purposes. Sales letters, presentations, branding. These are all highly valued skills if done well as they can generate unproportional returns.
One famous American business consultant and copywriter, Jay Abraham, charges around $200 000 for one sales letter.
He then spends around 1-2 hours to talk and record the whole sales letter. Without writing a single letter on the paper.
He then has the recording transcribed to a written word.
And that’s it. 1-2 hours.
Not that he hasn’t worked hard to get to where he is now. But working hard isn’t why he gets paid that amount. It’s the value he brings.
My father has done a heavy physical work for 35 years. 10-12 hours every day. And while he gets a fair salary, the market doesn’t value his contribution nearly as highly.
So working hard alone doesn’t do it for you. First, you need to pick the right thing to work on. Something that people are willing to pay a lot of money for.
And if you have a specific knowledge of a particular industry, coupled with one of the universal high-income skills, the sky is the limit.