Tim Ferriss is a popular author that wrote the famous book “The 4 hour work week”. The message behind it is creating a job or a revenue stream that does not require alot of time but can still produce great results. While it is not very easy to do necessarily, it is possible. There a couple of key factors that can determine your success in trying to create a 4-5 hour work week. In this blog, we will go into how you can make 1 million dollars per year working only 5 hours per week.
Dedicated Time
Those 5 hours you spend, if you decide you can only spend that time must be incredibly focused.
During those 5 hours, you must not be distracted, taking lunch breaks, or doing meaningless tasks. Your task list must be refined, so you are getting only top priority tasks done. In our podcast, we go into further detail on some of those higher-priority tasks.
Taking on the goal of creating a large income from home with only 5 hours per week does bring with it some pressure. Make sure you are using these hours at the highest efficiency they can be used.
Hiring an employee
Hiring an employee is going to be essential as well during this time period. You have to begin outsourcing your lower-level responsibilities so that you can focus on high-level tasks exclusively.
Employees can be professional independent contractors, family members, or outsourcing your virtual assistance needs internationally.
Many people will postpone hiring an employee. It is a mistake. Employees increase your efficiency, help you scale your business faster, and make the entrepreneurship process a bit more rewarding.
Picking the right business model
Quite debatably the most important factor of this entire idea is picking the right business model.
You would not be able to start a restaurant with 1 employee and 5 hours of work per week.
You would not be able to start MANY businesses with these low requirements. That is what makes Land Investing so special.
Land Investing is a business that can be run alongside a 9-5 job, or it can be a full-time job itself. It is entirely up to you and how much time you choose to put into it.
This business will reward you with what you put into it.
Set your times to price scrub your data, price your mail, pick your counties, etc and you can easily start a land business with only 5 hours per week. You can then outsource what needs to be outsourced and continue to scale while you work your 9-5 job, focus on other hobbies, etc.
As a matter of fact, we did the math, and to get your first deal, and attain some extra knowledge only takes 18.6 hours.
20 hours for a full-time business with the potential to make you anywhere from $250,000 – $1,000,000 annually.
Sound too good to be true? We were skeptical at first too. Check out what our students have to say.
Get Quality Education & Make A Plan
When starting a venture like this, a framework for the business is essential. Whether it is an eCommerce course or copywriting course having a professional who has done it before guide you through the process will increase your likelihood of attaining this goal dramatically.
Educate yourself, youtube also works but it is not the same quality or guidance that you would find in a specialized course.
A course can even lay in place a plan if it is tailored enough to your goals or what you are trying to achieve. If you can’t find one, make your own.
Creating your own freedom is a large deal, so you should treat it like that.
Create a plan of the high-level tasks you will complete, what you will delegate, and a plan for exiting from there or scaling up.
Once you do the business enough yourself and have enough profits, you could potentially completely outsource your business so you have to work EVEN LESS.
Again, only certain industries and courses have been set up to help you achieve a goal like this.