How to earn more from individual activities without changing work methods?

Earnings are not what you get from customers.

It never was.

Earnings are what is left after deducting expenses. After all, if you open a muffin business and spend 15 cents on baking and sell them for 14 cents, there is no earnings, no profit. In a sole proprietorship, there are fewer middlemen, but the rules are the same.

If you want to earn more - Increase revenue or reduce costs. There is no other way.

How can I increase my income without changing my working methods? Unfortunately, this is not possible. If you want more income, you have to learn and apply what you learn. I'll tell you how and where to learn.

But first...

...How are your expenses?

You know, as a real adult, I have this "Personal Finance Journal". I keep it in a Google Sheets spreadsheet, although there are easier ways to track finances. This month, I put off filling it in for a long time because I knew the situation would not be good. I have incurred a lot of expenses in the last month and I was already at risk of running out of money when I stood at the checkout at Rimi.

That's the convenience of not counting costs, because keeping track of how much you spend is scary!

That's when you see where the horns of the little things stick out. Those one-night Mojito cocktails and innocent smoke breaks. And if an abusive spouse sees where you've spent half your salary...

But do we really need to be afraid of costs?

So if you don't know, nothing will change. And if you do... you can already make a difference.

Mr. Money Moustache, personal finance superhero, with a following in Lithuania, has 6 rules for retiring at 30 and not working a day more. Unless you don't want to work, of course.

If a pension at 30 sounds impossible to you, or if you think only those living in Japan can do it, a programmer from Vilnius, Povilas Panavaswill change your mind.

So there you have it, six rules we can discuss.

1. Avoid waste. It is common around us to waste mountains of euros, even though we imagine we don't have any euros. I guarantee you do too. If you don't believe it, try it a month without purchases the challenge. I tried. I saw. And I don't smoke, I don't drink, I don't even eat any fish. But those pennies add up...
2. Spend money on what makes you happy and don't let the one who doesn't. Do you need a cup of coffee at a petrol station between home and work? Maybe. I don't know. After all, I spend 12 euros a month on a World of Warcraft subscription because I enjoy it. But some things we buy just out of habit - cars, say. You've had a car all your life, how can you give it up? But what if life without it was MORE fun? You know, you have challenge yourself to temporarily give upto see if you really need it all.
3. Don't destroy the planet. I am vegan, but not because I care about animals. Damn the animals. I am vegan because it costs more to undo the damage of the meat and dairy industries, than simply replacing these products with others. Maybe you believe you can do something else better. That's good too!
4. Be careful with purchases that make life easier, as they can turn you into a spendthrift. The car is probably a good example. However, most of the cost of a car is not its purchase price. You've made life easier, but you've also made it addictive, because it's scary to live without it...
5. Invest your money in simple techniques - savings funds and real estate. I don't know this at all, but it seems, Lithuanian investors agrees.
6. Your children should learn to work. Which I think is a very good idea. A child who learns to earn money (and how) will not be a burden to you or to themselves.

These rules are open to debate. Write a comment on what your opinion is and whether you would add a rule.

...But the point remains: the only way to increase earnings without learning how to do the job more productively is to cut costs.

And anyone can do it.

I don't know where your money is going. But if it's a little money, you're obviously spending it on something. Try tracking your spending for at least one month. Use your head, damn it!

...And how to get more income?

You will have to learn. Change the way you work.

For example:

1. Reasonably raise the price of your work. That's not bad! And it may even be better for your customers - more expensive products are used more fully.
2. Work more productively - faster, more creatively, more abundantly. You'll have to try out mountains of productive working techniques to find what works for you. You'll have to consciously practice, as I encourage in my book "The Sloth Manifesto".
3. Attract more buyers. Your products are likely to be bought by about 1% people who know you, whatever happens. What will your percentage be? You will need new acquaintances and engaging adverts.

And... Well, I'm not a jack of all trades. I barely know one end.

You will have to learn how to learn in order to learn what will benefit you. Learn from a variety of sources Lithuania and for the rest of the world. And whatever works for you will help you grow. And grow your profits.

...Or maybe you have your own tipsHow can I earn more without putting in extra hours? Or do you have other observations?

Not a workaholic,
Debesyla

Originally published: https://www.laimeskudikis.lt/kaip-uzdirbti-daugiau-is-individualios-veiklos-nekeiciant-darbo-metodu-svecio-irasas-01/